Raymond James Financial Inc. Sells 34,527 Shares of Robert Half Inc. $RHI

Key Points

• Raymond James Financial Inc. reduced its stake in Robert Half Inc. by 15.7%, holding 185,323 shares after selling 34,527 shares in the first quarter.
• Robert Half's most recent earnings report showed a 0.41 EPS, slightly beating estimates, but revenues were down 7.0% compared to the previous year.
• The company declared a quarterly dividend of $0.59 per share, with a yield of 6.3% based on the annualized figures.

Raymond James Financial Inc. lowered its position in Robert Half Inc. (NYSE:RHI - Free Report) by 15.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 185,323 shares of the business services provider's stock after selling 34,527 shares during the period. Raymond James Financial Inc. owned 0.18% of Robert Half worth $10,109,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RHI. Jupiter Asset Management Ltd. acquired a new stake in shares of Robert Half in the first quarter valued at approximately $71,175,000. Balyasny Asset Management L.P. increased its holdings in shares of Robert Half by 5,172.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 693,394 shares of the business services provider's stock valued at $48,857,000 after purchasing an additional 680,242 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Robert Half by 293.3% in the fourth quarter. Wellington Management Group LLP now owns 831,359 shares of the business services provider's stock valued at $58,578,000 after purchasing an additional 619,982 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Robert Half by 73.3% in the first quarter. Invesco Ltd. now owns 892,336 shares of the business services provider's stock valued at $48,677,000 after purchasing an additional 377,305 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Robert Half by 61.7% in the fourth quarter. Point72 Asset Management L.P. now owns 985,558 shares of the business services provider's stock valued at $69,442,000 after purchasing an additional 375,911 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Robert Half from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. JPMorgan Chase & Co. lowered their target price on shares of Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Robert Half currently has a consensus rating of "Hold" and an average target price of $45.83.

Robert Half Stock Down 0.7%

RHI traded down $0.28 during trading on Friday, hitting $37.07. The company had a trading volume of 1,168,462 shares, compared to its average volume of 1,714,995. The company has a market capitalization of $3.77 billion, a PE ratio of 21.18 and a beta of 1.03. Robert Half Inc. has a one year low of $33.18 and a one year high of $78.41. The firm's 50-day moving average price is $38.60 and its 200 day moving average price is $45.23.

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

Robert Half Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, August 25th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Monday, August 25th. Robert Half's payout ratio is currently 134.86%.

Robert Half Company 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.