IFG Advisory LLC Cuts Stock Position in Robert Half Inc. (NYSE:RHI)

IFG Advisory LLC reduced its position in Robert Half Inc. (NYSE:RHI) by 19.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,528 shares of the business services provider’s stock after selling 6,713 shares during the quarter. IFG Advisory LLC’s holdings in Robert Half were worth $2,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Empirical Asset Management LLC lifted its stake in shares of Robert Half by 2.6% in the 4th quarter. Empirical Asset Management LLC now owns 5,270 shares of the business services provider’s stock valued at $463,000 after acquiring an additional 134 shares during the last quarter. Wahed Invest LLC raised its position in Robert Half by 9.0% during the 3rd quarter. Wahed Invest LLC now owns 1,637 shares of the business services provider’s stock valued at $120,000 after purchasing an additional 135 shares during the last quarter. Cypress Capital Group raised its position in Robert Half by 1.8% during the 3rd quarter. Cypress Capital Group now owns 8,402 shares of the business services provider’s stock valued at $616,000 after purchasing an additional 146 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Robert Half by 2.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,342 shares of the business services provider’s stock worth $561,000 after acquiring an additional 149 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Robert Half by 4.0% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,927 shares of the business services provider’s stock worth $300,000 after buying an additional 151 shares during the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Robert Half Stock Performance

NYSE:RHI traded up $0.63 during trading hours on Wednesday, reaching $78.06. The company’s stock had a trading volume of 150,473 shares, compared to its average volume of 1,029,679. The stock has a 50 day moving average price of $80.28 and a two-hundred day moving average price of $79.47. Robert Half Inc. has a 12 month low of $64.65 and a 12 month high of $88.39. The company has a market capitalization of $8.21 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 19.53 and a beta of 1.26.

Robert Half (NYSE:RHI) last posted its quarterly earnings results on Tuesday, January 30th. The business services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. The company 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 firm’s revenue was down 14.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.37 earnings per share. As a group, analysts predict that Robert Half Inc. will post 3.34 EPS for the current fiscal year.

Robert Half Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Thursday, February 22nd. This is an increase from Robert Half’s previous quarterly dividend of $0.48. Robert Half’s dividend payout ratio is 54.78%.

Analyst Ratings Changes

Several research firms have recently weighed in on RHI. Truist Financial increased their price target on Robert Half from $66.00 to $72.00 and gave the company a “sell” rating in a report on Thursday, January 25th. BMO Capital Markets dropped their target price on Robert Half from $85.00 to $80.00 and set a “market perform” rating for the company in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Robert Half currently has a consensus rating of “Hold” and an average target price of $68.57.

Insider Buying and Selling

In other Robert Half 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 value of $603,450.00. Following the completion of the sale, the executive vice president now owns 186,062 shares in the company, valued at approximately $14,970,548.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

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.