KBC Group NV Lowers Stock Holdings in Robert Half Inc. (NYSE:RHI)

KBC Group NV lowered its position in shares of Robert Half Inc. (NYSE:RHI) by 49.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,681 shares of the business services provider’s stock after selling 91,614 shares during the period. KBC Group NV’s holdings in Robert Half were worth $6,248,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RHI. Thrivent Financial for Lutherans boosted its holdings in Robert Half by 27,895.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,244,939 shares of the business services provider’s stock valued at $79,652,000 after purchasing an additional 1,240,492 shares during the period. AQR Capital Management LLC raised its position in shares of Robert Half by 101.0% in the second quarter. AQR Capital Management LLC now owns 1,564,247 shares of the business services provider’s stock worth $99,439,000 after buying an additional 786,031 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Robert Half by 900.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 834,447 shares of the business services provider’s stock valued at $66,155,000 after buying an additional 751,049 shares during the period. Pacer Advisors Inc. grew its position in Robert Half by 54.7% during the second quarter. Pacer Advisors Inc. now owns 1,628,919 shares of the business services provider’s stock worth $104,218,000 after buying an additional 575,879 shares in the last quarter. Finally, Miller Howard Investments Inc. NY bought a new position in Robert Half in the 2nd quarter worth about $35,357,000. Institutional investors own 92.41% of the company’s stock.

Robert Half Stock Performance

Shares of RHI opened at $73.42 on Monday. Robert Half Inc. has a fifty-two week low of $57.05 and a fifty-two week high of $88.39. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 26.80 and a beta of 1.23. The firm has a 50 day moving average price of $68.00 and a 200-day moving average price of $65.69.

Robert Half (NYSE:RHI) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $0.64 EPS 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 company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the company earned $0.90 EPS. The firm’s 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 year.

Robert Half Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Monday, November 25th. Robert Half’s dividend payout ratio is presently 77.37%.

Wall Street Analyst Weigh In

RHI has been the subject of several recent analyst reports. Barclays cut their price objective on Robert Half from $70.00 to $60.00 and set an “underweight” rating for the company in a report on Friday, July 26th. Truist Financial decreased their price target on shares of Robert Half from $72.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, July 26th. BMO Capital Markets lowered their price objective on shares of Robert Half from $72.00 to $64.00 and set a “market perform” rating on the stock in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. cut their target price on shares of Robert Half from $70.00 to $69.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, 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.