Allianz Asset Management GmbH Purchases 64,845 Shares of Robert Half Inc. (NYSE:RHI)

Key Points

• Allianz Asset Management GmbH increased its holdings in Robert Half Inc. by 37.8% in Q1, now owning 236,315 shares valued at approximately $12.9 million.
• Robert Half reported earnings of $0.41 EPS for the latest quarter, beating expectations, despite a 7.0% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.59 per share, leading to an annualized dividend yield of 5.93%, although its payout ratio stands at 134.86%.

Allianz Asset Management GmbH grew its position in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 37.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 236,315 shares of the business services provider's stock after acquiring an additional 64,845 shares during the quarter. Allianz Asset Management GmbH owned 0.23% of Robert Half worth $12,891,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Robert Half by 613.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the business services provider's stock worth $25,000 after acquiring an additional 313 shares during the last quarter. Headlands Technologies LLC acquired a new position in Robert Half during the 4th quarter worth approximately $26,000. GeoWealth Management LLC acquired a new position in Robert Half during the 4th quarter worth approximately $35,000. Orion Capital Management LLC acquired a new position in Robert Half during the 4th quarter worth approximately $41,000. Finally, CX Institutional acquired a new position in Robert Half during the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 92.41% of the company's stock.

Robert Half Stock Performance

RHI traded down $0.42 during trading hours on Tuesday, reaching $39.07. The company's stock had a trading volume of 193,616 shares, compared to its average volume of 1,683,503. Robert Half Inc. has a 52 week low of $38.90 and a 52 week high of $78.41. The company's 50-day moving average is $42.91 and its 200-day moving average is $50.83. The firm has a market cap of $3.99 billion, a PE ratio of 22.32 and a beta of 1.00.

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 for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. Robert Half had a return on equity of 13.00% and a net margin of 3.20%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the prior year, the business earned $0.66 EPS. The firm's revenue for the quarter was down 7.0% on a year-over-year basis. Equities analysts anticipate that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date was Friday, May 23rd. Robert Half's dividend payout ratio (DPR) is presently 134.86%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Truist Financial set a $55.00 price target on Robert Half and gave the stock a "buy" rating in a research report on Thursday, April 24th. BNP Paribas Exane cut Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective on the stock. in a research note on Friday, May 2nd. Barclays dropped their price objective on Robert Half from $50.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. dropped their price objective on Robert Half from $47.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group dropped their price objective on Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a research note on Thursday, April 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $45.83.

Robert Half 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.