Weiss Asset Management LP Cuts Stock Position in Robert Half Inc. (NYSE:RHI)

Weiss Asset Management LP reduced its stake in Robert Half Inc. (NYSE:RHI - Free Report) by 14.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 195,468 shares of the business services provider's stock after selling 34,005 shares during the period. Weiss Asset Management LP owned approximately 0.19% of Robert Half worth $13,176,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RHI. Blue Trust Inc. raised its holdings in Robert Half by 489.4% in the 2nd quarter. Blue Trust Inc. now owns 389 shares of the business services provider's stock valued at $25,000 after buying an additional 323 shares during the period. V Square Quantitative Management LLC purchased a new stake in Robert Half in the 3rd quarter valued at about $27,000. Private Trust Co. NA raised 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 valued at $29,000 after buying an additional 192 shares during the period. Reston Wealth Management LLC purchased a new stake in Robert Half in the 3rd quarter valued at about $34,000. Finally, Family Firm Inc. purchased a new stake in Robert Half during the second quarter worth about $45,000. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their price target 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 given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $69.00.

Insider Activity at Robert Half

In other news, Director Dirk A. Kempthorne sold 1,032 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 12,310 shares of the company's stock, valued at approximately $915,248.50. This represents a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Robert Half Price Performance

Shares of RHI stock traded up $0.18 during trading hours on Friday, reaching $74.30. 623,950 shares of the stock were exchanged, compared to its average volume of 1,360,393. The business's fifty day moving average is $70.64 and its two-hundred day moving average is $66.10. Robert Half Inc. has a 12-month low of $57.05 and a 12-month high of $88.39. The firm has a market capitalization of $7.67 billion, a P/E ratio of 27.05 and a beta of 1.24.

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

Robert Half Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Monday, November 25th. Robert Half's dividend payout ratio (DPR) is 77.37%.

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.