Mirae Asset Global Investments Co. Ltd. Buys 96,585 Shares of Robert Half Inc. $RHI

Key Points

• Mirae Asset Global Investments acquired 96,585 Robert Half shares in the third quarter, worth approximately $3.55 million and representing about 0.09% of the company. Institutional investors collectively own 92.41% of the stock.
• Analyst sentiment is mixed, with three Buy, four Hold, and three Sell ratings; the average rating is Hold and the average price target is $40.75.
• Robert Half reported quarterly EPS of $0.49, slightly above the $0.47 consensus, on revenue of $1.36 billion. The company also announced a quarterly dividend of $0.59 per share, equivalent to a 5.7% annualized yield.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 96,585 shares of the business services provider's stock, valued at approximately $3,549,000. Mirae Asset Global Investments Co. Ltd. owned about 0.09% of Robert Half at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Reyes Financial Architecture Inc. acquired a new stake in Robert Half during the third quarter worth about $36,000. Elevation Wealth Partners LLC grew its stake in shares of Robert Half by 605.6% during the second quarter. Elevation Wealth Partners LLC now owns 1,136 shares of the business services provider's stock valued at $35,000 after acquiring an additional 975 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Robert Half during the 2nd quarter valued at approximately $39,000. Quantbot Technologies LP acquired a new position in shares of Robert Half in the 2nd quarter valued at approximately $39,000. Finally, Fortitude Family Office LLC boosted its stake in shares of Robert Half by 315.8% during the 3rd quarter. Fortitude Family Office LLC now owns 1,372 shares of the business services provider's stock valued at $50,000 after buying an additional 1,042 shares during the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RHI has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price target on shares of Robert Half from $29.00 to $33.00 and gave the company a "sell" rating in a report on Friday, October 23rd. Barclays upped their target price on shares of Robert Half from $25.00 to $40.00 and gave the company an "equal weight" rating in a research note on Monday, October 26th. Truist Financial increased their price target on shares of Robert Half from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. BMO Capital Markets lifted their price target on Robert Half from $47.00 to $50.00 and gave the stock an "outperform" rating in a research note on Monday, October 26th. Finally, Jefferies Financial Group restated an "underperform" rating and set a $33.00 price objective on shares of Robert Half in a research note on Friday, October 23rd. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $40.75.

Robert Half Stock Performance

Shares of NYSE:RHI traded down $1.29 during trading hours on Friday, hitting $41.70. The stock had a trading volume of 1,316,080 shares, compared to its average volume of 2,299,400. The stock's fifty day simple moving average is $38.66 and its 200 day simple moving average is $32.62. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 34.46 and a beta of 0.76. Robert Half Inc. has a 1-year low of $21.83 and a 1-year high of $47.14.

Robert Half (NYSE:RHI - Get Free Report) last announced its earnings results on Thursday, October 22nd. The business services provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. Robert Half had a return on equity of 9.89% and a net margin of 2.30%. The firm's revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. As a group, research analysts anticipate that Robert Half Inc. will post 1.29 EPS for the current year.

Robert Half Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 25th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, November 25th. This represents a $2.36 annualized dividend and a dividend yield of 5.7%. Robert Half's dividend payout ratio (DPR) is 195.04%.

Robert Half Profile

Robert Half Inc NYSE: RHI is a global talent solutions and business consulting company. Through its Robert Half brand, the company provides temporary, project-based and permanent staffing services, connecting employers with professionals in accounting and finance, administrative and customer support, technology, legal, and marketing and creative fields.

Robert Half also operates Protiviti, a global consulting firm that helps organizations address internal audit, risk and compliance, technology, business performance, and digital transformation challenges.

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