Swedbank AB Sells 217,995 Shares of Robert Half Inc. (NYSE:RHI)

Swedbank AB cut its holdings in Robert Half Inc. (NYSE:RHI) by 70.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,496 shares of the business services provider’s stock after selling 217,995 shares during the period. Swedbank AB’s holdings in Robert Half were worth $6,168,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Robert Half by 3.0% during the first quarter. Vanguard Group Inc. now owns 12,795,282 shares of the business services provider’s stock valued at $1,014,410,000 after buying an additional 366,978 shares during the period. Boston Partners increased its holdings in Robert Half by 14.7% during the 1st quarter. Boston Partners now owns 3,749,749 shares of the business services provider’s stock worth $296,963,000 after acquiring an additional 479,384 shares during the period. Mawer Investment Management Ltd. increased its holdings in Robert Half by 105.4% during the 1st quarter. Mawer Investment Management Ltd. now owns 3,655,626 shares of the business services provider’s stock worth $289,818,000 after acquiring an additional 1,875,476 shares during the period. Pacer Advisors Inc. lifted its stake in 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 worth $104,218,000 after purchasing an additional 575,879 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Robert Half by 101.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,564,247 shares of the business services provider’s stock valued at $99,439,000 after purchasing an additional 786,031 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RHI shares. JPMorgan Chase & Co. lowered their price objective on Robert Half from $74.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Truist Financial decreased their target price 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. StockNews.com downgraded Robert Half from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. BMO Capital Markets lowered their target price on shares of Robert Half from $72.00 to $64.00 and set a “market perform” rating on the stock in a research note on Thursday, July 25th. Finally, Barclays cut their price target 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Robert Half currently has a consensus rating of “Hold” and an average target price of $67.86.

Insider Transactions at Robert Half

In related news, Director Dirk A. Kempthorne sold 1,300 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $63.09, for a total transaction of $82,017.00. Following the sale, the director now owns 13,342 shares of the company’s stock, valued at $841,746.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.00% of the company’s stock.

Robert Half Price Performance

RHI stock opened at $66.31 on Friday. The firm has a 50-day moving average of $64.34 and a 200 day moving average of $65.92. The company has a market cap of $6.96 billion, a P/E ratio of 19.85 and a beta of 1.23. Robert Half Inc. has a 1 year low of $57.05 and a 1 year high of $88.39.

Robert Half (NYSE:RHI) last released its earnings results on Wednesday, July 24th. The business services provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Robert Half had a net margin of 5.26% and a return on equity of 20.41%. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS. On average, equities research analysts expect that Robert Half Inc. will post 2.51 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Friday, August 23rd. Robert Half’s dividend payout ratio (DPR) is presently 63.47%.

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.