Cornerstone Capital Management Holdings LLC. trimmed its position in shares of Robert Half International Inc. (NYSE:RHI) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 623,879 shares of the business services provider’s stock after selling 69,830 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.50% of Robert Half International worth $34,649,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. boosted its stake in Robert Half International by 405.1% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,995 shares of the business services provider’s stock valued at $100,000 after acquiring an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in Robert Half International during the 4th quarter valued at $101,000. Assetmark Inc. boosted its stake in Robert Half International by 47,875.0% during the 4th quarter. Assetmark Inc. now owns 1,919 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 1,915 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Robert Half International during the 4th quarter valued at $138,000. Finally, James Hambro & Partners bought a new position in Robert Half International during the 4th quarter valued at $164,000. 85.40% of the stock is owned by institutional investors and hedge funds.
Robert Half International Inc. (NYSE:RHI) opened at $59.13 on Wednesday. Robert Half International Inc. has a 52-week low of $42.92 and a 52-week high of $60.59. The stock has a market cap of $7,373.68, a PE ratio of 22.91 and a beta of 1.22.
Robert Half International announced that its board has authorized a share buyback program on Tuesday, February 13th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Friday, February 23rd will be given a $0.28 dividend. This is an increase from Robert Half International’s previous quarterly dividend of $0.24. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, February 22nd. Robert Half International’s dividend payout ratio (DPR) is presently 48.28%.
In related news, insider Michael C. Buckley sold 10,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $57.84, for a total value of $578,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert W. Glass sold 12,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $56.21, for a total transaction of $674,520.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 457,247 shares of company stock worth $25,936,679. Insiders own 3.40% of the company’s stock.
RHI has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated a “hold” rating and set a $57.00 price objective on shares of Robert Half International in a research note on Wednesday, December 27th. Macquarie downgraded shares of Robert Half International from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $56.66 to $42.00 in a research note on Tuesday, December 5th. Deutsche Bank increased their price objective on shares of Robert Half International from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 28th. SunTrust Banks increased their price objective on shares of Robert Half International to $58.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Finally, BMO Capital Markets raised their price target on shares of Robert Half International from $53.00 to $58.00 and gave the stock a “market perform” rating in a research report on Friday, December 29th. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Robert Half International has a consensus rating of “Hold” and a consensus price target of $57.22.
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About Robert Half International
Robert Half International Inc provides specialized staffing and risk consulting services. The Company provides these services through its divisions, including Accountemps, Robert Half Finance & Accounting, OfficeTeam, Robert Half Technology, Robert Half Management Resources, Robert Half Legal, The Creative Group and Protiviti.
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