Raymond James Financial Services Advisors Inc. Lowers Holdings in Robert Half Inc. (NYSE:RHI)

Raymond James Financial Services Advisors Inc. trimmed its position in Robert Half Inc. (NYSE:RHI) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,321 shares of the business services provider’s stock after selling 211 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Robert Half were worth $644,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Robert Half by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 13,674,644 shares of the business services provider’s stock valued at $1,561,370,000 after buying an additional 42,681 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Robert Half by 116,277.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,941,582 shares of the business services provider’s stock worth $586,327,000 after purchasing an additional 7,934,758 shares in the last quarter. Capital World Investors acquired a new position in shares of Robert Half during the 1st quarter worth $636,060,000. State Street Corp grew its stake in shares of Robert Half by 2.5% during the 2nd quarter. State Street Corp now owns 4,647,446 shares of the business services provider’s stock worth $349,581,000 after purchasing an additional 113,299 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Robert Half by 46.5% during the 4th quarter. Alliancebernstein L.P. now owns 2,808,208 shares of the business services provider’s stock worth $207,330,000 after purchasing an additional 891,202 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RHI shares. Truist Financial upped their price target on shares of Robert Half from $66.00 to $72.00 and gave the stock a “sell” rating in a research note on Thursday, January 25th. BMO Capital Markets lowered their price target on shares of Robert Half from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $68.57.

Insider Transactions at Robert Half

In other news, EVP Robert W. Glass sold 7,500 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $80.46, for a total transaction of $603,450.00. Following the transaction, the executive vice president now directly owns 186,062 shares in the company, valued at approximately $14,970,548.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.80% of the company’s stock.

Robert Half Trading Down 2.0 %

NYSE:RHI opened at $69.31 on Thursday. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 17.59 and a beta of 1.26. Robert Half Inc. has a 12-month low of $64.65 and a 12-month high of $88.39. The company’s 50-day moving average is $78.45 and its two-hundred day moving average is $79.59.

Robert Half (NYSE:RHI) last announced its quarterly earnings data on Tuesday, January 30th. The business services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. Robert Half had a net margin of 6.43% and a return on equity of 25.73%. The company’s revenue was down 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 EPS. On average, equities research analysts forecast that Robert Half Inc. will post 3.34 earnings per share for the current fiscal year.

Robert Half Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.53 per share. This is a positive change from Robert Half’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, February 22nd. Robert Half’s dividend payout ratio is presently 54.78%.

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.