JPMorgan Chase & Co. Increases Stock Holdings in Robert Half Inc. (NYSE:RHI)

JPMorgan Chase & Co. lifted its holdings in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 20.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 270,467 shares of the business services provider's stock after buying an additional 46,100 shares during the period. JPMorgan Chase & Co. owned about 0.26% of Robert Half worth $18,232,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Robert Half by 35.6% in the 3rd quarter. GAMMA Investing LLC now owns 682 shares of the business services provider's stock valued at $46,000 after acquiring an additional 179 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Robert Half by 79.7% during the third quarter. Private Trust Co. NA now owns 433 shares of the business services provider's stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Robert Half by 3.7% during the third quarter. M&T Bank Corp now owns 6,419 shares of the business services provider's stock worth $432,000 after purchasing an additional 227 shares during the last quarter. SYM FINANCIAL Corp increased its stake in shares of Robert Half by 7.5% in the third quarter. SYM FINANCIAL Corp now owns 3,443 shares of the business services provider's stock valued at $232,000 after buying an additional 241 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its holdings in Robert Half by 0.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 30,957 shares of the business services provider's stock valued at $2,087,000 after buying an additional 290 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors.

Insider Transactions at Robert Half

In related news, Director Dirk A. Kempthorne sold 1,032 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $74.35, for a total value of $76,729.20. Following the transaction, the director now directly owns 12,310 shares in the company, valued at $915,248.50. This trade represents a 7.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on RHI shares. Barclays upgraded shares of Robert Half from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $60.00 to $80.00 in a research report on Friday, January 3rd. Truist Financial upgraded Robert Half from a "hold" rating to a "buy" rating and increased their price objective for the company from $62.00 to $90.00 in a report on Friday, December 13th. BNP Paribas downgraded Robert Half from an "outperform" rating to an "underperform" rating and set a $64.00 target price on the stock. in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. decreased their price target on Robert Half from $70.00 to $69.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $74.33.

Robert Half Stock Performance

Shares of RHI stock traded down $1.79 during mid-day trading on Friday, hitting $65.63. The company's stock had a trading volume of 1,919,799 shares, compared to its average volume of 1,081,067. Robert Half Inc. has a 52 week low of $57.05 and a 52 week high of $83.25. The company's fifty day simple moving average is $72.81 and its 200-day simple moving average is $67.29. The company has a market cap of $6.78 billion, a PE ratio of 23.95 and a beta of 1.24.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. Robert Half had a return on equity of 18.78% and a net margin of 4.84%. The company's revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 earnings per share. On average, equities analysts anticipate that Robert Half Inc. will post 2.45 earnings per share for the current year.

Robert Half Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were issued a dividend of $0.53 per share. The ex-dividend date was Monday, November 25th. This represents a $2.12 annualized dividend and a dividend yield of 3.23%. Robert Half's dividend payout ratio is currently 77.37%.

About Robert Half

Robert Half Inc provides talent solutions and business consulting services in North America, South America, Europe, Asia, and Australia. The company operates through Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti segments. The Contract Talent Solutions segment provides contract engagement professionals in the fields of finance and accounting, technology, marketing and creative, legal and administrative, and customer support.