Legal & General Group Plc Invests $9.45 Million in Robert Half Inc. $RHI

Key Points

• Legal & General Group Plc acquired 307,825 Robert Half shares worth approximately $9.45 million, representing a 0.30% stake. Institutional investors collectively own 92.41% of the company.
• Robert Half reported quarterly revenue of $1.34 billion, above estimates, while earnings of $0.26 per share matched consensus; revenue declined 2.4% year over year and prior-year EPS was $0.41.
• The company declared a quarterly dividend of $0.59 per share, equal to a 5.4% annualized yield, though its payout ratio was high at 205.22%. Analysts have a consensus “Hold” rating and an average price target of $34.75.

Legal & General Group Plc purchased a new stake in Robert Half Inc. (NYSE:RHI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 307,825 shares of the business services provider's stock, valued at approximately $9,450,000. Legal & General Group Plc owned 0.30% of Robert Half as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Robert Half during the second quarter worth about $34,000. Gilpin Wealth Management LLC acquired a new stake in shares of Robert Half during the fourth quarter worth about $27,000. Larson Financial Group LLC raised its position in shares of Robert Half by 321.0% during the fourth quarter. Larson Financial Group LLC now owns 1,002 shares of the business services provider's stock worth $27,000 after purchasing an additional 764 shares during the period. Danske Bank A S bought a new position in shares of Robert Half during the 3rd quarter valued at about $37,000. Finally, Elevation Wealth Partners LLC grew its position in shares of Robert Half by 605.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,136 shares of the business services provider's stock valued at $35,000 after purchasing an additional 975 shares during the period. Institutional investors own 92.41% of the company's stock.

Robert Half Trading Down 3.9%

Shares of RHI stock opened at $43.55 on Wednesday. Robert Half Inc. has a 1 year low of $21.83 and a 1 year high of $46.70. The firm's fifty day moving average price is $39.07 and its two-hundred day moving average price is $30.91. The firm has a market capitalization of $4.46 billion, a P/E ratio of 37.87 and a beta of 0.81.

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 analysts' consensus estimates of $0.26. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business posted $0.41 EPS. The company's quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts forecast that Robert Half Inc. will post 1.27 EPS for the current fiscal year.

Robert Half Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, August 25th will be given 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 dividend yield of 5.4%. Robert Half's payout ratio is 205.22%.

Wall Street Analyst Weigh In

Several brokerages have commented on RHI. BMO Capital Markets upgraded shares of Robert Half from a "market perform" rating to an "outperform" rating and set a $47.00 target price on the stock in a report on Monday, July 27th. The Goldman Sachs Group raised their price objective on shares of Robert Half from $26.00 to $29.00 and gave the stock a "sell" rating in a report on Friday, July 24th. Truist Financial upped their target price 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. Robert W. Baird set a $47.00 price target on Robert Half in a report on Monday, July 27th. Finally, Weiss Ratings upgraded Robert Half from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 18th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Robert Half currently has a consensus rating of "Hold" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source