Bank of New York Mellon Corp Boosts Stake in Robert Half Inc. (NYSE:RHI)

Bank of New York Mellon Corp grew its position in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,160,555 shares of the business services provider's stock after purchasing an additional 94,125 shares during the period. Bank of New York Mellon Corp owned approximately 1.12% of Robert Half worth $81,773,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Private Trust Co. NA lifted its stake in Robert Half by 79.7% during the 3rd quarter. Private Trust Co. NA now owns 433 shares of the business services provider's stock worth $29,000 after acquiring an additional 192 shares in the last quarter. Eastern Bank acquired a new stake in shares of Robert Half during the fourth quarter worth about $35,000. V Square Quantitative Management LLC boosted its stake in shares of Robert Half by 70.6% in the fourth quarter. V Square Quantitative Management LLC now owns 679 shares of the business services provider's stock valued at $48,000 after purchasing an additional 281 shares during the period. Friedenthal Financial acquired a new position in shares of Robert Half in the fourth quarter valued at approximately $56,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Robert Half by 310.3% in the third quarter. Venturi Wealth Management LLC now owns 796 shares of the business services provider's stock valued at $54,000 after purchasing an additional 602 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

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Robert Half Stock Down 0.7 %

Robert Half stock traded down $0.41 during midday trading on Thursday, reaching $55.04. The company's stock had a trading volume of 345,547 shares, compared to its average volume of 1,293,857. The business has a 50-day simple moving average of $64.78 and a 200-day simple moving average of $67.40. The company has a market cap of $5.63 billion, a P/E ratio of 22.56 and a beta of 1.23. Robert Half Inc. has a fifty-two week low of $54.24 and a fifty-two week high of $81.86.

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

Robert Half Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th will be issued a $0.59 dividend. This is a boost from Robert Half's previous quarterly dividend of $0.53. The ex-dividend date is Tuesday, February 25th. This represents a $2.36 annualized dividend and a dividend yield of 4.29%. Robert Half's dividend payout ratio is presently 96.72%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RHI. 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 report on Monday, February 10th. JPMorgan Chase & Co. reduced their price objective 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. Truist Financial raised Robert Half from a "hold" rating to a "buy" rating and boosted their target price for the stock from $62.00 to $90.00 in a research note on Friday, December 13th. StockNews.com raised Robert Half from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th. Finally, Barclays upgraded Robert Half from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $60.00 to $80.00 in a research note on Friday, January 3rd. Three 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, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.