T. Rowe Price Investment Management Inc. Grows Stock Holdings in Robert Half Inc. $RHI

Key Points

• T. Rowe Price Investment Management Inc. significantly increased its holdings in Robert Half Inc. by 1,103.7%, owning a total of 284,845 shares worth approximately $15.5 million at the end of the reporting period.
• Robert Half recently announced a quarterly dividend of $0.59 per share, which will be paid on September 15th, reflecting a 6.2% dividend yield.
• Shares of Robert Half have experienced a 5.3% increase and currently have an average target price of $45.83, with stock ratings primarily categorized as "Hold."

T. Rowe Price Investment Management Inc. raised its stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 1,103.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 284,845 shares of the business services provider's stock after purchasing an additional 261,181 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.28% of Robert Half worth $15,539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in RHI. Mariner LLC boosted its holdings in Robert Half by 27.9% during the fourth quarter. Mariner LLC now owns 12,961 shares of the business services provider's stock valued at $913,000 after purchasing an additional 2,829 shares in the last quarter. GeoWealth Management LLC acquired a new stake in Robert Half during the 4th quarter valued at $35,000. Kovitz Investment Group Partners LLC bought a new position in Robert Half in the 4th quarter valued at $285,000. Oxford Asset Management LLP acquired a new position in Robert Half in the fourth quarter worth $200,000. Finally, Northern Trust Corp grew its holdings in shares of Robert Half by 18.9% during the fourth quarter. Northern Trust Corp now owns 1,067,255 shares of the business services provider's stock worth $75,199,000 after purchasing an additional 169,682 shares during the last quarter. 92.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RHI shares. Wall Street Zen upgraded Robert Half from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. BNP Paribas Exane lowered 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. BNP Paribas lowered 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, JPMorgan Chase & Co. dropped their price objective on shares of Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $45.83.

Robert Half Trading Up 1.8%

NYSE RHI traded up $0.66 on Friday, hitting $37.19. 963,662 shares of the company's stock were exchanged, compared to its average volume of 1,714,229. The stock has a 50-day moving average of $39.04 and a 200-day moving average of $46.14. Robert Half Inc. has a 52 week low of $33.18 and a 52 week high of $78.41. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 21.26 and a beta of 1.02.

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

Robert Half Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, August 25th will be paid a $0.59 dividend. The ex-dividend date is Monday, August 25th. This represents a $2.36 annualized dividend and a yield of 6.3%. Robert Half's dividend payout ratio is currently 134.86%.

Robert Half 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.