The Manufacturers Life Insurance Company Invests $748,000 in Robert Half Inc. $RHI

Key Points

• The Manufacturers Life Insurance Company acquired 24,368 Robert Half shares worth approximately $748,000 in the second quarter. Institutional investors collectively own 92.41% of the company.
• Robert Half reported quarterly EPS of $0.26, in line with estimates, while revenue of $1.34 billion exceeded expectations but declined 2.4% year over year.
• The company declared a quarterly dividend of $0.59 per share, equal to $2.36 annually and a 5.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $34.75, below the stock’s recent $42.49 price.

The Manufacturers Life Insurance Company acquired a new position in shares of Robert Half Inc. (NYSE:RHI - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 24,368 shares of the business services provider's stock, valued at approximately $748,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Basecamp Wealth Advisors LLC lifted its stake in Robert Half by 19.4% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,164 shares of the business services provider's stock valued at $55,000 after acquiring an additional 351 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Robert Half by 3.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 12,069 shares of the business services provider's stock worth $410,000 after acquiring an additional 407 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Robert Half by 9.0% in the fourth quarter. IFP Advisors Inc now owns 6,845 shares of the business services provider's stock valued at $186,000 after purchasing an additional 564 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Robert Half by 94.3% in the fourth quarter. Fifth Third Bancorp now owns 1,368 shares of the business services provider's stock valued at $37,000 after purchasing an additional 664 shares during the last quarter. Finally, Inspire Advisors LLC raised its holdings in shares of Robert Half by 5.0% in the fourth quarter. Inspire Advisors LLC now owns 14,059 shares of the business services provider's stock valued at $382,000 after purchasing an additional 669 shares during the last quarter. Institutional investors and hedge funds own 92.41% of the company's stock.

Robert Half Stock Down 1.2%

Shares of NYSE RHI opened at $42.49 on Friday. The business's 50 day moving average price is $39.78 and its two-hundred day moving average price is $31.25. The company has a market cap of $4.35 billion, a PE ratio of 36.95 and a beta of 0.81. Robert Half Inc. has a twelve month low of $21.83 and a twelve month high of $46.70.

Robert Half (NYSE:RHI - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.26. The company had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. Robert Half had a return on equity of 9.18% and a net margin of 2.17%.The business's revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. As a group, research analysts anticipate that Robert Half Inc. will post 1.27 EPS for the current fiscal year.

Robert Half Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, August 25th. Robert Half's payout ratio is 205.22%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Weiss Ratings upgraded shares of Robert Half from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 18th. Robert W. Baird set a $47.00 price target on shares of Robert Half in a research note on Monday, July 27th. Truist Financial boosted 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 upgraded shares of Robert Half from a "market perform" rating to an "outperform" rating and set a $47.00 price objective for the company in a research note on Monday, July 27th. Finally, Zacks Research upgraded Robert Half from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $34.75.

About Robert Half

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half's shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.

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