Robert Half Inc. (NYSE:RHI) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its position in Robert Half Inc. (NYSE:RHI - Free Report) by 10.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 677,149 shares of the business services provider's stock after selling 77,047 shares during the quarter. Bank of America Corp DE owned approximately 0.66% of Robert Half worth $47,712,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Mawer Investment Management Ltd. grew its position in shares of Robert Half by 72.6% in the 4th quarter. Mawer Investment Management Ltd. now owns 8,079,597 shares of the business services provider's stock valued at $569,288,000 after buying an additional 3,398,257 shares during the last quarter. Boston Partners grew its position in Robert Half by 17.5% during the 4th quarter. Boston Partners now owns 8,554,276 shares of the business services provider's stock worth $602,867,000 after purchasing an additional 1,271,237 shares during the last quarter. Norges Bank purchased a new position in Robert Half during the 4th quarter worth $60,257,000. Wellington Management Group LLP grew its position in Robert Half by 293.3% during the 4th quarter. Wellington Management Group LLP now owns 831,359 shares of the business services provider's stock worth $58,578,000 after purchasing an additional 619,982 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in Robert Half by 124.2% during the 4th quarter. Schroder Investment Management Group now owns 724,419 shares of the business services provider's stock worth $50,956,000 after purchasing an additional 401,369 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Robert Half Price Performance

Shares of NYSE RHI traded up $0.75 on Friday, hitting $47.94. The company's stock had a trading volume of 1,016,514 shares, compared to its average volume of 1,499,577. Robert Half Inc. has a 12-month low of $40.00 and a 12-month high of $78.41. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 19.65 and a beta of 1.06. The stock has a 50 day moving average of $48.97 and a 200-day moving average of $61.45.

Robert Half (NYSE:RHI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.17 earnings per share (EPS) 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 analysts' expectations of $1.41 billion. During the same period last year, the company earned $0.61 EPS. The firm's revenue for the quarter was down 8.4% on a year-over-year basis. Sell-side analysts expect that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.92%. The ex-dividend date is Friday, May 23rd. Robert Half's dividend payout ratio (DPR) is presently 118.00%.

Analysts Set New Price Targets

RHI has been the topic of several research reports. BNP Paribas downgraded shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective on the stock. in a research report on Friday, May 2nd. 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. BNP Paribas Exane downgraded shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective on the stock. in a report on Friday, May 2nd. Barclays decreased 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 report on Thursday, April 24th. Finally, StockNews.com downgraded shares of Robert Half from a "buy" rating to a "hold" rating in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $48.71.

About Robert Half

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.