Summit Wealth & Retirement Planning Inc. Invests $234,000 in H & R Block Inc (NYSE:HRB)

Summit Wealth & Retirement Planning Inc. purchased a new position in shares of H & R Block Inc (NYSE:HRB) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,000 shares of the company’s stock, valued at approximately $234,000.

Several other hedge funds have also modified their holdings of the company. Taylor Hoffman Wealth Management grew its stake in shares of H & R Block by 14.3% during the second quarter. Taylor Hoffman Wealth Management now owns 38,831 shares of the company’s stock worth $1,138,000 after acquiring an additional 4,849 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of H & R Block by 26.6% during the second quarter. Meeder Asset Management Inc. now owns 51,791 shares of the company’s stock worth $1,517,000 after acquiring an additional 10,883 shares during the last quarter. Freestone Capital Holdings LLC grew its stake in shares of H & R Block by 108.0% during the second quarter. Freestone Capital Holdings LLC now owns 314,116 shares of the company’s stock worth $9,204,000 after acquiring an additional 163,070 shares during the last quarter. Gabelli Funds LLC boosted its position in H & R Block by 3.5% in the second quarter. Gabelli Funds LLC now owns 584,900 shares of the company’s stock valued at $17,138,000 after buying an additional 20,000 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in H & R Block in the second quarter valued at approximately $276,000. Institutional investors and hedge funds own 98.18% of the company’s stock.

NYSE:HRB traded up $0.02 during trading hours on Thursday, reaching $27.07. The company had a trading volume of 46,653 shares, compared to its average volume of 2,235,146. H & R Block Inc has a 1-year low of $22.96 and a 1-year high of $29.62. The firm has a market cap of $5.60 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.39 and a beta of 0.24. The business’s 50 day moving average price is $27.86 and its 200-day moving average price is $26.40. The company has a debt-to-equity ratio of 2.76, a current ratio of 2.16 and a quick ratio of 2.16.

H & R Block (NYSE:HRB) last announced its quarterly earnings results on Tuesday, June 11th. The company reported $4.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.11 by $0.21. H & R Block had a return on equity of 364.51% and a net margin of 13.65%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the company posted $5.42 earnings per share. H & R Block’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts expect that H & R Block Inc will post 1.99 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on HRB shares. Barrington Research reiterated an “outperform” rating on shares of H & R Block in a research report on Wednesday, June 12th. Zacks Investment Research lowered H & R Block from a “hold” rating to a “sell” rating and set a $28.00 target price on the stock. in a research report on Wednesday, May 29th. Morgan Stanley reissued an “equal weight” rating and issued a $29.00 price target on shares of H & R Block in a report on Thursday, June 27th. Finally, Northcoast Research downgraded H & R Block from a “buy” rating to a “neutral” rating in a report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. H & R Block currently has a consensus rating of “Hold” and a consensus price target of $26.50.

In other news, VP Kellie J. Logerwell sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $28.68, for a total transaction of $86,040.00. Following the completion of the transaction, the vice president now directly owns 7,941 shares of the company’s stock, valued at approximately $227,747.88. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.57% of the company’s stock.

H & R Block Company Profile

H&R Block, Inc, through its subsidiaries, provides assisted income tax return preparation, digital do-it-yourself (DIY) tax solutions, and other services and products related to income tax return preparation to the general public primarily in the United States, Canada, and Australia. The company offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or by franchisees.

Featured Story: Day Trading – Risk Worth the Reward?

Institutional Ownership by Quarter for H & R Block (NYSE:HRB)

Receive News & Ratings for H & R Block Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for H & R Block and related companies with MarketBeat.com's FREE daily email newsletter.