Norges Bank Acquires Shares of 855,201 Robert Half Inc. (NYSE:RHI)

Norges Bank bought a new position in shares of Robert Half Inc. (NYSE:RHI - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 855,201 shares of the business services provider's stock, valued at approximately $60,257,000. Norges Bank owned approximately 0.83% of Robert Half at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RHI. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Robert Half by 17.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,770 shares of the business services provider's stock valued at $1,468,000 after acquiring an additional 3,281 shares in the last quarter. Captrust Financial Advisors raised its stake in Robert Half by 139.7% in the third quarter. Captrust Financial Advisors now owns 32,078 shares of the business services provider's stock valued at $2,162,000 after buying an additional 18,697 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Robert Half by 11.1% in the third quarter. HighTower Advisors LLC now owns 36,048 shares of the business services provider's stock worth $2,436,000 after acquiring an additional 3,606 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Robert Half by 828.9% during the third quarter. Janus Henderson Group PLC now owns 463,570 shares of the business services provider's stock worth $31,249,000 after acquiring an additional 413,664 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Robert Half during the third quarter valued at about $41,096,000. Hedge funds and other institutional investors own 92.41% of the company's stock.

Analyst Ratings Changes

RHI has been the subject of a number of recent analyst reports. Barclays upgraded shares of Robert Half from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $60.00 to $80.00 in a research note on Friday, January 3rd. Truist Financial upgraded shares of Robert Half from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $62.00 to $90.00 in a research note on Friday, December 13th. BNP Paribas raised 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. StockNews.com upgraded Robert Half from a "hold" rating to a "buy" rating in a research note on Monday. Finally, JPMorgan Chase & Co. dropped their price target on Robert Half from $69.00 to $65.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Robert Half currently has an average rating of "Moderate Buy" and an average target price of $74.92.

Robert Half Stock Performance

NYSE RHI traded down $0.98 on Tuesday, reaching $46.34. 1,605,519 shares of the company's stock traded hands, compared to its average volume of 1,431,754. Robert Half Inc. has a fifty-two week low of $44.97 and a fifty-two week high of $78.41. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 18.99 and a beta of 1.13. The stock has a 50 day moving average price of $56.34 and a 200-day moving average price of $65.65.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). Robert Half had a net margin of 4.34% and a return on equity of 17.20%. As a group, equities research analysts anticipate that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 5.09%. The ex-dividend date was Tuesday, February 25th. This is a positive change from Robert Half's previous quarterly dividend of $0.53. Robert Half's dividend payout ratio (DPR) is currently 96.72%.

Robert Half Company 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.