Northern Trust Corp Grows Stake in Robert Half Inc. (NYSE:RHI)

Northern Trust Corp grew its stake in Robert Half Inc. (NYSE:RHI - Free Report) by 18.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,067,255 shares of the business services provider's stock after acquiring an additional 169,682 shares during the quarter. Northern Trust Corp owned about 1.03% of Robert Half worth $75,199,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in RHI. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Robert Half by 613.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the business services provider's stock worth $25,000 after buying an additional 313 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Robert Half during the fourth quarter worth about $26,000. Signaturefd LLC grew its stake in shares of Robert Half by 121.3% during the fourth quarter. Signaturefd LLC now owns 436 shares of the business services provider's stock worth $31,000 after acquiring an additional 239 shares during the last quarter. Eastern Bank acquired a new position in shares of Robert Half during the fourth quarter valued at about $35,000. Finally, GeoWealth Management LLC purchased a new position in shares of Robert Half in the 4th quarter valued at approximately $35,000. 92.41% of the stock is owned by institutional investors.

Robert Half Trading Down 1.2 %

Robert Half stock traded down $0.56 during mid-day trading on Friday, hitting $44.77. The company had a trading volume of 729,717 shares, compared to its average volume of 1,489,986. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 18.35 and a beta of 1.06. Robert Half Inc. has a 12-month low of $40.00 and a 12-month high of $78.41. The company's fifty day moving average is $49.68 and its 200-day moving average is $62.22.

Robert Half (NYSE:RHI - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.19). The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.41 billion. Robert Half had a net margin of 4.34% and a return on equity of 17.20%. The firm's quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 EPS. As a group, sell-side analysts expect that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be issued a $0.59 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 5.27%. Robert Half's payout ratio is 118.00%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RHI. JPMorgan Chase & Co. cut their price target on shares of Robert Half from $65.00 to $47.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. 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. StockNews.com downgraded Robert Half from a "buy" rating to a "hold" rating in a research note on Tuesday, April 15th. The Goldman Sachs Group reduced their price objective on Robert Half from $46.00 to $40.00 and set a "sell" rating for the company in a research note on Thursday, April 24th. Finally, Truist Financial set a $55.00 target price on Robert Half and gave the company a "buy" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $48.71.

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.