Russell Investments Group Ltd. Lowers Position in Robert Half Inc. $RHI

Key Points

• Russell Investments Group Ltd. reduced its holdings in Robert Half Inc. by 5.9%, now owning approximately 0.31% of the company, equivalent to about $17.5 million.
• Several institutional investors made significant changes to their positions in Robert Half, with Jupiter Asset Management Ltd. entering with a $71 million investment and Balyasny Asset Management increasing its stake by over 5,000%.
• Robert Half's recent earnings report beat expectations with $0.41 earnings per share, though revenue decreased by 7% year-over-year amid a challenging market environment.

Russell Investments Group Ltd. trimmed its holdings in Robert Half Inc. (NYSE:RHI - Free Report) by 5.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 321,379 shares of the business services provider's stock after selling 20,156 shares during the period. Russell Investments Group Ltd. owned 0.31% of Robert Half worth $17,531,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of RHI. CX Institutional bought a new stake in shares of Robert Half in the 1st quarter worth approximately $33,000. GeoWealth Management LLC bought a new position in Robert Half in the fourth quarter valued at about $35,000. Orion Capital Management LLC bought a new stake in shares of Robert Half during the 4th quarter valued at $41,000. Manchester Capital Management LLC raised its position in shares of Robert Half by 45.0% during the 1st quarter. Manchester Capital Management LLC now owns 825 shares of the business services provider's stock valued at $45,000 after acquiring an additional 256 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in Robert Half by 80.4% during the 1st quarter. Allworth Financial LP now owns 1,458 shares of the business services provider's stock worth $80,000 after acquiring an additional 650 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on RHI. BNP Paribas Exane cut shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective on the stock. in a research report on Friday, May 2nd. BNP Paribas downgraded shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective for the company. in a research report on Friday, May 2nd. Wall Street Zen upgraded Robert Half from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. The Goldman Sachs Group lowered their price target on shares of Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a research report on Thursday, April 24th. Finally, Barclays lowered their price target on shares of Robert Half from $50.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $45.83.

Robert Half Stock Performance

Shares of RHI stock traded up $2.1580 during mid-day trading on Friday, hitting $38.1180. The company's stock had a trading volume of 404,580 shares, compared to its average volume of 1,708,292. The company has a market cap of $3.88 billion, a PE ratio of 21.73 and a beta of 1.02. Robert Half Inc. has a 52 week low of $33.18 and a 52 week high of $78.41. The company's fifty day simple moving average is $39.54 and its 200-day simple moving average is $46.96.

Robert Half (NYSE:RHI - Get Free Report) last released 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. Robert Half had a return on equity of 13.00% and a net margin of 3.20%.The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company's quarterly revenue was down 7.0% on a year-over-year basis. On average, equities analysts anticipate that Robert Half Inc. will post 2.48 earnings per share for the current year.

Robert Half Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, August 25th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Monday, August 25th. Robert Half's dividend payout ratio (DPR) is presently 134.86%.

About Robert Half

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.