Raymond James Financial Inc. Makes New $15.49 Million Investment in Robert Half Inc. (NYSE:RHI)

Raymond James Financial Inc. purchased a new stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 219,850 shares of the business services provider's stock, valued at approximately $15,491,000. Raymond James Financial Inc. owned about 0.21% of Robert Half at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Robert Half by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,433,585 shares of the business services provider's stock worth $241,930,000 after purchasing an additional 148,577 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Robert Half by 20.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,343,030 shares of the business services provider's stock worth $90,534,000 after purchasing an additional 225,210 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Robert Half by 8.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,160,555 shares of the business services provider's stock worth $81,773,000 after purchasing an additional 94,125 shares in the last quarter. Pzena Investment Management LLC raised its holdings in Robert Half by 41.9% during the third quarter. Pzena Investment Management LLC now owns 1,027,683 shares of the business services provider's stock worth $69,276,000 after purchasing an additional 303,421 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Robert Half during the third quarter worth approximately $41,096,000. Institutional investors own 92.41% of the company's stock.

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Robert Half Stock Down 1.2 %

Shares of Robert Half stock traded down $0.64 on Friday, hitting $53.20. 5,984,092 shares of the company traded hands, compared to its average volume of 1,354,639. The company has a 50-day moving average price of $61.08 and a 200 day moving average price of $66.63. Robert Half Inc. has a 12-month low of $51.55 and a 12-month high of $81.24. The company has a market cap of $5.44 billion, a PE ratio of 21.80 and a beta of 1.22.

Robert Half (NYSE:RHI - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $0.53 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%. Equities research analysts anticipate that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.59 per share. This is a boost from Robert Half's previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Tuesday, February 25th. Robert Half's payout ratio is currently 96.72%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RHI. Barclays raised 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 report on Friday, January 3rd. StockNews.com cut Robert Half from a "buy" rating to a "hold" rating in a report on Friday. 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 report on Friday, December 13th. BNP Paribas upgraded shares of Robert Half from an "underperform" rating to an "outperform" rating and set a $71.50 price objective on the stock in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. lowered their price objective 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Robert Half currently has an average rating of "Hold" and a consensus price target of $74.92.

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.