The Manufacturers Life Insurance Company cut its holdings in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 32.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,108 shares of the business services provider's stock after selling 11,617 shares during the period. The Manufacturers Life Insurance Company's holdings in Robert Half were worth $1,625,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Robert Half by 35.6% in the 3rd quarter. GAMMA Investing LLC now owns 682 shares of the business services provider's stock worth $46,000 after buying an additional 179 shares during the last quarter. Private Trust Co. NA boosted its holdings in Robert Half by 79.7% in the 3rd quarter. Private Trust Co. NA now owns 433 shares of the business services provider's stock worth $29,000 after buying an additional 192 shares during the last quarter. Isthmus Partners LLC lifted its stake in Robert Half by 3.3% in the 2nd quarter. Isthmus Partners LLC now owns 7,079 shares of the business services provider's stock worth $453,000 after purchasing an additional 229 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Robert Half by 7.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,134 shares of the business services provider's stock worth $263,000 after purchasing an additional 281 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in Robert Half by 0.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 30,957 shares of the business services provider's stock worth $2,087,000 after purchasing an additional 290 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, Director Dirk A. Kempthorne sold 1,032 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total value of $76,729.20. Following the completion of the sale, the director now directly owns 12,310 shares of the company's stock, valued at $915,248.50. The trade was a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.00% of the company's stock.
Robert Half Stock Down 1.0 %
NYSE RHI traded down $0.72 on Tuesday, reaching $74.47. The stock had a trading volume of 627,643 shares, compared to its average volume of 1,356,030. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 27.18 and a beta of 1.24. Robert Half Inc. has a 12-month low of $57.05 and a 12-month high of $88.39. The stock has a fifty day moving average price of $71.08 and a two-hundred day moving average price of $66.21.
Robert Half (NYSE:RHI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The company's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Sell-side analysts forecast that Robert Half Inc. will post 2.45 earnings per share for the current fiscal year.
Robert Half Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.85%. Robert Half's payout ratio is currently 77.37%.
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. decreased their target price on shares of Robert Half from $70.00 to $69.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $69.00.
Read Our Latest Report on Robert Half
Robert Half Profile
(
Free Report)
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.
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