Assenagon Asset Management S.A. Makes New $7.73 Million Investment in Robert Half Inc. $RHI

Key Points

• Assenagon Asset Management bought 251,702 Robert Half shares worth approximately $7.73 million, acquiring a 0.25% stake. Institutional investors collectively own 92.41% of the company.
• Robert Half reported quarterly EPS of $0.26, matching estimates, while revenue of $1.34 billion exceeded expectations but declined 2.4% year over year. The stock opened at $42.16, near its 52-week high of $44.18.
• The company declared a quarterly dividend of $0.59 per share, equivalent to a 5.6% annualized yield, though its payout ratio stands at a high 205.22%. Analysts maintain a consensus “Reduce” rating with an average price target of $34.75.

Assenagon Asset Management S.A. bought a new stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 251,702 shares of the business services provider's stock, valued at approximately $7,727,000. Assenagon Asset Management S.A. owned 0.25% of Robert Half as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Robert Half during the 2nd quarter valued at $34,000. Gilpin Wealth Management LLC purchased a new position in shares of Robert Half in the 4th quarter worth $27,000. Larson Financial Group LLC boosted its stake in shares of Robert Half by 321.0% in the 4th quarter. Larson Financial Group LLC now owns 1,002 shares of the business services provider's stock worth $27,000 after buying an additional 764 shares during the last quarter. Danske Bank A S bought a new stake in shares of Robert Half in the third quarter worth $37,000. Finally, Fifth Third Bancorp grew its holdings in shares of Robert Half by 94.3% in the fourth quarter. Fifth Third Bancorp now owns 1,368 shares of the business services provider's stock worth $37,000 after acquiring an additional 664 shares during the period. Hedge funds and other institutional investors own 92.41% of the company's stock.

Robert Half Stock Performance

NYSE:RHI opened at $42.16 on Wednesday. The stock has a 50-day simple moving average of $35.22 and a two-hundred day simple moving average of $29.42. The firm has a market capitalization of $4.32 billion, a PE ratio of 36.66 and a beta of 0.79. Robert Half Inc. has a 52-week low of $21.83 and a 52-week high of $44.18.

Robert Half (NYSE:RHI - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Robert Half had a return on equity of 9.18% and a net margin of 2.17%.The business's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. Equities analysts forecast that Robert Half Inc. will post 1.29 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, August 25th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.36 annualized dividend and a yield of 5.6%. Robert Half's payout ratio is currently 205.22%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings upgraded Robert Half from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, June 17th. William Blair upgraded Robert Half from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 21st. Robert W. Baird set a $47.00 price target on shares of Robert Half in a research report on Monday, July 27th. Truist Financial increased their price objective on shares of Robert Half from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Finally, Zacks Research raised shares of Robert Half from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $34.75.

Robert Half Profile

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half's shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.

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