Pinebridge Investments L.P. Sells 23,089 Shares of Robert Half Inc. (NYSE:RHI)

Pinebridge Investments L.P. trimmed its holdings in Robert Half Inc. (NYSE:RHI - Free Report) by 31.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,893 shares of the business services provider's stock after selling 23,089 shares during the period. Pinebridge Investments L.P.'s holdings in Robert Half were worth $3,515,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Robert Half by 613.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the business services provider's stock valued at $25,000 after buying an additional 313 shares in the last quarter. Headlands Technologies LLC acquired a new position in Robert Half during the fourth quarter worth $26,000. Signaturefd LLC grew its position in Robert Half by 121.3% in the fourth quarter. Signaturefd LLC now owns 436 shares of the business services provider's stock valued at $31,000 after purchasing an additional 239 shares in the last quarter. Eastern Bank bought a new stake in Robert Half during the 4th quarter worth about $35,000. Finally, GeoWealth Management LLC bought a new position in shares of Robert Half in the 4th quarter valued at about $35,000. 92.41% of the stock is currently owned by institutional investors.

Robert Half Stock Performance

Shares of Robert Half stock traded up $0.05 on Thursday, hitting $44.35. The stock had a trading volume of 360,256 shares, compared to its average volume of 1,487,643. The stock has a 50 day moving average of $51.63 and a 200 day moving average of $63.31. The firm has a market capitalization of $4.52 billion, a P/E ratio of 18.16 and a beta of 1.13. Robert Half Inc. has a twelve month low of $40.00 and a twelve month high of $78.41.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.19). Robert Half had a return on equity of 17.20% and a net margin of 4.34%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the business earned $0.61 earnings per share. Robert Half's revenue was down 8.4% compared to the same quarter last year. Equities analysts expect that Robert Half Inc. will post 2.48 earnings per share for the current year.

Robert Half Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were paid a $0.59 dividend. This is an increase from Robert Half's previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 5.32%. The ex-dividend date was Tuesday, February 25th. Robert Half's payout ratio is 118.00%.

Analyst Upgrades and Downgrades

RHI has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Robert Half from $65.00 to $47.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group decreased their target price on Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a report on Thursday, April 24th. Barclays dropped their price objective 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. StockNews.com cut shares of Robert Half from a "buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Truist Financial set a $55.00 price target on Robert Half and gave the stock a "buy" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $53.75.

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.