Alliancebernstein L.P. Has $178.29 Million Stake in Robert Half Inc. $RHI

Key Points

• Alliancebernstein L.P. increased its stake in Robert Half Inc. by 1.6%, acquiring an additional 50,436 shares, bringing its total ownership to approximately 3.20% valued at $178.3 million.
• Robert Half recently declared a quarterly dividend of $0.59 per share, with an annualized yield of 6.3%, although its dividend payout ratio is high at 134.86%.
• Analysts rate Robert Half's stock as a "Hold" with a consensus price target of $45.83, following a mixed evaluation from recent reports.

Alliancebernstein L.P. lifted its position in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,268,435 shares of the business services provider's stock after purchasing an additional 50,436 shares during the period. Alliancebernstein L.P. owned about 3.20% of Robert Half worth $178,293,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP boosted its holdings in Robert Half by 540.8% in the first quarter. Quarry LP now owns 487 shares of the business services provider's stock valued at $27,000 after acquiring an additional 411 shares during the last quarter. Orion Capital Management LLC bought a new stake in Robert Half in the fourth quarter valued at approximately $41,000. CX Institutional bought a new stake in Robert Half in the first quarter valued at approximately $33,000. Manchester Capital Management LLC boosted its holdings in Robert Half by 45.0% in the first quarter. Manchester Capital Management LLC now owns 825 shares of the business services provider's stock valued at $45,000 after acquiring an additional 256 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Robert Half by 80.4% in the first quarter. Allworth Financial LP now owns 1,458 shares of the business services provider's stock valued at $80,000 after acquiring an additional 650 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors.

Robert Half Stock Performance

Shares of Robert Half stock traded down $0.91 on Wednesday, reaching $34.94. 229,572 shares of the company's stock were exchanged, compared to its average volume of 1,703,323. The company has a market capitalization of $3.56 billion, a P/E ratio of 19.98 and a beta of 1.03. Robert Half Inc. has a 52 week low of $33.18 and a 52 week high of $78.41. The firm's 50-day moving average is $38.36 and its two-hundred day moving average is $44.79.

Robert Half (NYSE:RHI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.01. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.35 billion. Robert Half had a return on equity of 13.00% and a net margin of 3.20%.The company's revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. On average, analysts expect that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, August 25th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Monday, August 25th. Robert Half's dividend payout ratio is presently 134.86%.

Analyst Upgrades and Downgrades

Several analysts recently commented on RHI shares. JPMorgan Chase & Co. reduced their target price on Robert Half from $47.00 to $45.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. Wall Street Zen upgraded Robert Half from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Robert Half has a consensus rating of "Hold" and a consensus target price of $45.83.

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.