Russell Investments Group Ltd. Sells 20,156 Shares of 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. reduced its holdings in Robert Half Inc. (NYSE:RHI - Free Report) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RHI. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Robert Half in the first quarter valued at about $3,195,000. GAMMA Investing LLC grew its stake in Robert Half by 92.9% in the first quarter. GAMMA Investing LLC now owns 2,091 shares of the business services provider's stock valued at $114,000 after purchasing an additional 1,007 shares in the last quarter. Jefferies Financial Group Inc. increased its position in shares of Robert Half by 119.4% during the 1st quarter. Jefferies Financial Group Inc. now owns 46,851 shares of the business services provider's stock worth $2,556,000 after purchasing an additional 25,498 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Robert Half by 4.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 76,378 shares of the business services provider's stock worth $4,166,000 after purchasing an additional 3,248 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of 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 purchasing an additional 650 shares in the last quarter. 92.41% of the stock is owned by institutional investors.

Robert Half Trading Up 2.2%

RHI stock traded up $0.7740 during trading hours on Tuesday, hitting $36.5840. 1,566,732 shares of the stock were exchanged, compared to its average volume of 2,061,374. Robert Half Inc. has a 12 month low of $33.18 and a 12 month high of $78.41. The firm has a market capitalization of $3.72 billion, a P/E ratio of 20.91 and a beta of 1.02. The company has a 50-day simple moving average of $39.84 and a two-hundred day simple moving average of $47.22.

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

Robert Half Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, August 25th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.36 annualized dividend and a dividend yield of 6.5%. Robert Half's dividend payout ratio (DPR) is currently 134.86%.

Wall Street Analyst Weigh In

RHI has been the subject of several analyst reports. Truist Financial set a $55.00 target price on shares of Robert Half and gave the company a "buy" rating in a research note on Thursday, April 24th. BNP Paribas Exane 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 raised shares of Robert Half from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. BNP Paribas downgraded shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 target price for the company. in a research note on Friday, May 2nd. Finally, Barclays lowered their price target on 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 research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Robert Half presently has a consensus rating of "Hold" and a consensus price target of $45.83.

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.