JPMorgan Chase & Co. Buys 46,100 Shares of Robert Half Inc. (NYSE:RHI)

JPMorgan Chase & Co. grew its stake in shares of Robert Half Inc. (NYSE:RHI) by 20.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 270,467 shares of the business services provider’s stock after acquiring an additional 46,100 shares during the quarter. JPMorgan Chase & Co.’s holdings in Robert Half were worth $18,232,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RHI. 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. grew its holdings in shares of Robert Half by 28.9% in the 3rd quarter. Mawer Investment Management Ltd. now owns 4,681,340 shares of the business services provider’s stock valued at $315,569,000 after buying an additional 1,049,005 shares during the period. AQR Capital Management LLC increased its position in shares of 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 buying an additional 786,031 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Robert Half during the 3rd quarter worth $41,096,000. Finally, Pacer Advisors Inc. lifted its holdings 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 acquiring an additional 575,879 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Robert Half Stock Down 1.9 %

Shares of RHI opened at $67.38 on Friday. Robert Half Inc. has a twelve month low of $57.05 and a twelve month high of $83.25. The stock has a market capitalization of $6.96 billion, a P/E ratio of 24.59 and a beta of 1.24. The company has a 50 day moving average of $72.82 and a 200-day moving average of $67.29.

Robert Half (NYSE:RHI) last issued 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. 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 analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm posted $0.90 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, sell-side analysts anticipate that Robert Half Inc. will post 2.45 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Monday, November 25th. Robert Half’s dividend payout ratio is currently 77.37%.

Insider Activity

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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RHI shares. Barclays raised Robert Half from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $60.00 to $80.00 in a research report on Friday, January 3rd. BNP Paribas downgraded shares of Robert Half from an “outperform” rating to an “underperform” rating and set a $64.00 target price on the stock. in a report on Monday, December 16th. 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. Finally, Truist Financial raised shares of Robert Half from a “hold” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $90.00 in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Robert Half has an average rating of “Hold” and a consensus price target of $74.33.

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.