Kentucky Retirement Systems Insurance Trust Fund Makes New Investment in Robert Half Inc. (NYSE:RHI)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Robert Half Inc. (NYSE:RHI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,908 shares of the business services provider's stock, valued at approximately $346,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RHI. Cardinal Capital Management grew its position in shares of Robert Half by 1.1% in the fourth quarter. Cardinal Capital Management now owns 36,509 shares of the business services provider's stock valued at $2,572,000 after purchasing an additional 408 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of Robert Half by 108.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,659 shares of the business services provider's stock valued at $117,000 after purchasing an additional 863 shares during the last quarter. Truist Financial Corp grew its position in shares of Robert Half by 11.1% in the fourth quarter. Truist Financial Corp now owns 38,728 shares of the business services provider's stock valued at $2,729,000 after purchasing an additional 3,858 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Robert Half by 4.6% in the fourth quarter. CIBC Asset Management Inc now owns 10,220 shares of the business services provider's stock valued at $720,000 after purchasing an additional 449 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Robert Half by 2.1% in the fourth quarter. Principal Financial Group Inc. now owns 491,773 shares of the business services provider's stock valued at $34,650,000 after purchasing an additional 10,122 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Truist Financial upgraded shares of Robert Half from a "hold" rating to a "buy" rating and raised their target price for the stock from $62.00 to $90.00 in a research report on Friday, December 13th. Barclays upgraded shares of Robert Half from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $60.00 to $80.00 in a research report on Friday, January 3rd. BNP Paribas upgraded shares of Robert Half from an "underperform" rating to an "outperform" rating and set a $71.50 target price on the stock in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Robert Half from $69.00 to $65.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $74.92.

Insider Activity

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

Robert Half Price Performance

NYSE:RHI traded down $0.03 during trading hours on Friday, reaching $60.00. 1,600,456 shares of the company were exchanged, compared to its average volume of 1,438,288. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 24.59 and a beta of 1.23. Robert Half Inc. has a 52-week low of $57.05 and a 52-week high of $83.25. The stock has a 50 day simple moving average of $67.04 and a 200 day simple moving average of $67.50.

Robert Half (NYSE:RHI - Get Free Report) last issued its earnings results on Wednesday, January 29th. The business services provider reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.01). Robert Half had a net margin of 4.34% and a return on equity of 17.20%. On average, analysts predict that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Tuesday, February 25th. This is an increase from Robert Half's previous quarterly dividend of $0.53. Robert Half's dividend payout ratio (DPR) is currently 86.89%.

Robert Half Profile

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.