MML Investors Services LLC Acquires New Shares in Robert Half Inc. (NYSE:RHI)

MML Investors Services LLC bought a new position in shares of Robert Half Inc. (NYSE:RHI) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,334 shares of the business services provider’s stock, valued at approximately $225,000.

Other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in Robert Half by 27,895.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,244,939 shares of the business services provider’s stock worth $79,652,000 after acquiring an additional 1,240,492 shares during the last quarter. Mawer Investment Management Ltd. raised its holdings in Robert Half by 28.9% in the third quarter. Mawer Investment Management Ltd. now owns 4,681,340 shares of the business services provider’s stock worth $315,569,000 after purchasing an additional 1,049,005 shares during the period. AQR Capital Management LLC boosted its position in shares of Robert Half by 101.0% during 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 purchasing an additional 786,031 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Robert Half in the 3rd quarter valued at $41,096,000. Finally, Pacer Advisors Inc. increased its position in shares of Robert Half by 54.7% in the 2nd quarter. Pacer Advisors Inc. now owns 1,628,919 shares of the business services provider’s stock valued at $104,218,000 after buying an additional 575,879 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Robert Half news, Director Dirk A. Kempthorne sold 1,032 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $74.35, for a total transaction of $76,729.20. Following the transaction, the director now owns 12,310 shares of the company’s stock, valued at $915,248.50. The trade was a 7.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.00% of the company’s stock.

Robert Half Stock Performance

NYSE:RHI opened at $71.72 on Friday. The stock has a 50-day simple moving average of $72.39 and a 200 day simple moving average of $66.89. Robert Half Inc. has a 52-week low of $57.05 and a 52-week high of $88.39. The company has a market cap of $7.41 billion, a PE ratio of 26.18 and a beta of 1.24.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the business earned $0.90 EPS. On average, research analysts predict that Robert Half Inc. will post 2.45 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.12 annualized dividend and a yield of 2.96%. Robert Half’s payout ratio is currently 77.37%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RHI. Truist Financial upgraded Robert Half from a “hold” rating to a “buy” rating and lifted their target price for the stock from $62.00 to $90.00 in a report on Friday, December 13th. BNP Paribas cut Robert Half from an “outperform” rating to an “underperform” rating and set a $64.00 price objective on the stock. in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered their target price 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $71.00.

Robert Half Company 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.