Point72 Asset Management L.P. Takes Position in Robert Half Inc. (NYSE:RHI)

Point72 Asset Management L.P. bought a new position in shares of Robert Half Inc. (NYSE:RHI - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 609,647 shares of the business services provider's stock, valued at approximately $41,096,000. Point72 Asset Management L.P. owned 0.59% of Robert Half as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Mawer Investment Management Ltd. boosted its holdings in Robert Half by 28.9% in the third quarter. Mawer Investment Management Ltd. now owns 4,681,340 shares of the business services provider's stock valued at $315,569,000 after purchasing an additional 1,049,005 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Robert Half by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,285,008 shares of the business services provider's stock valued at $221,442,000 after purchasing an additional 159,750 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Robert Half by 54.7% in the second quarter. Pacer Advisors Inc. now owns 1,628,919 shares of the business services provider's stock valued at $104,218,000 after acquiring an additional 575,879 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Robert Half by 101.0% in the second quarter. AQR Capital Management LLC now owns 1,564,247 shares of the business services provider's stock valued at $99,439,000 after acquiring an additional 786,031 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Robert Half by 17.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,542,502 shares of the business services provider's stock valued at $98,687,000 after acquiring an additional 231,129 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Dirk A. Kempthorne sold 1,032 shares of the firm's 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 completion of the transaction, the director now owns 12,310 shares in the company, valued at $915,248.50. This trade represents a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. decreased their price objective on Robert Half from $70.00 to $69.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $69.00.

Robert Half Stock Down 0.4 %

Shares of NYSE RHI traded down $0.27 during mid-day trading on Thursday, hitting $74.12. 772,937 shares of the company were exchanged, compared to its average volume of 1,363,827. The stock has a 50 day simple moving average of $70.64 and a 200-day simple moving average of $66.10. Robert Half Inc. has a 1-year low of $57.05 and a 1-year high of $88.39. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 27.05 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 for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. Analysts anticipate that Robert Half Inc. will post 2.45 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.86%. The ex-dividend date is Monday, November 25th. Robert Half's payout ratio is 77.37%.

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.