Point72 Asset Management L.P. Raises Position in Robert Half Inc. (NYSE:RHI)

Point72 Asset Management L.P. lifted its stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 61.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 985,558 shares of the business services provider's stock after buying an additional 375,911 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.95% of Robert Half worth $69,442,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RHI. Exchange Traded Concepts LLC lifted its position in Robert Half by 1.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 12,326 shares of the business services provider's stock valued at $868,000 after acquiring an additional 166 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in Robert Half by 5.8% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,355 shares of the business services provider's stock valued at $236,000 after buying an additional 183 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Robert Half by 0.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 30,716 shares of the business services provider's stock worth $2,164,000 after buying an additional 205 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Robert Half by 11.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,155 shares of the business services provider's stock worth $152,000 after acquiring an additional 218 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Robert Half by 39.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the business services provider's stock valued at $55,000 after acquiring an additional 220 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Robert Half from $65.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Truist Financial set a $55.00 price target on Robert Half and gave the company a "buy" rating in a research note on Thursday, April 24th. StockNews.com downgraded Robert Half from a "buy" rating to a "hold" rating in a report on Tuesday, April 15th. BNP Paribas downgraded shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price target for the company. in a report on Friday, May 2nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $48.71.

Robert Half Price Performance

RHI traded up $0.17 during midday trading on Monday, reaching $48.16. 988,730 shares of the company's stock were exchanged, compared to its average volume of 1,497,534. The business's 50-day moving average price is $48.87 and its 200 day moving average price is $61.27. The stock has a market capitalization of $4.92 billion, a PE ratio of 19.74 and a beta of 1.06. Robert Half Inc. has a 1-year low of $40.00 and a 1-year high of $78.41.

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

Robert Half Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.36 annualized dividend and a dividend yield of 4.90%. Robert Half's dividend payout ratio is presently 118.00%.

Robert Half Company 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.