Assetmark Inc. Sells 455,607 Shares of Robert Half Inc. (NYSE:RHI)

Assetmark Inc. lowered its stake in Robert Half Inc. (NYSE:RHI - Free Report) by 99.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,180 shares of the business services provider's stock after selling 455,607 shares during the quarter. Assetmark Inc.'s holdings in Robert Half were worth $147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RHI. Crescent Grove Advisors LLC bought a new position in shares of Robert Half during the third quarter worth about $206,000. River Road Asset Management LLC raised its holdings in shares of Robert Half by 19.9% in the third quarter. River Road Asset Management LLC now owns 78,398 shares of the business services provider's stock valued at $5,285,000 after purchasing an additional 13,016 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Robert Half by 40.0% in the third quarter. Van ECK Associates Corp now owns 69,210 shares of the business services provider's stock worth $4,677,000 after purchasing an additional 19,776 shares in the last quarter. Confluence Wealth Services Inc. boosted its holdings in Robert Half by 26.1% during the third quarter. Confluence Wealth Services Inc. now owns 11,834 shares of the business services provider's stock worth $798,000 after purchasing an additional 2,448 shares during the last quarter. Finally, Biechele Royce Advisors grew its position in Robert Half by 6.3% in the third quarter. Biechele Royce Advisors now owns 233,954 shares of the business services provider's stock valued at $15,771,000 after purchasing an additional 13,935 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company's stock.

Robert Half Trading Down 0.1 %

Shares of RHI traded down $0.07 during mid-day trading on Monday, reaching $73.35. The company's stock had a trading volume of 835,399 shares, compared to its average volume of 1,393,588. Robert Half Inc. has a 1-year low of $57.05 and a 1-year high of $88.39. The business has a 50-day simple moving average of $68.00 and a two-hundred day simple moving average of $65.69. The stock has a market cap of $7.57 billion, a P/E ratio of 26.77 and a beta of 1.23.

Robert Half (NYSE:RHI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.44 billion. Robert Half had a return on equity of 18.78% and a net margin of 4.84%. The firm's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 EPS. Research analysts anticipate that Robert Half Inc. will post 2.45 EPS for the current year.

Robert Half Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.12 annualized dividend and a yield of 2.89%. Robert Half's dividend payout ratio (DPR) is presently 77.37%.

Analyst Ratings Changes

A number of equities analysts have recently commented on RHI shares. Barclays reduced their price objective on shares of Robert Half from $70.00 to $60.00 and set an "underweight" rating for the company in a research note on Friday, July 26th. JPMorgan Chase & Co. decreased their price target on Robert Half from $70.00 to $69.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. Truist Financial dropped their price objective on Robert Half from $72.00 to $62.00 and set a "hold" rating on the stock in a research note on Friday, July 26th. Finally, BMO Capital Markets decreased their target price on shares of Robert Half from $72.00 to $64.00 and set a "market perform" rating for the company in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $69.00.

About Robert Half

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.