Truist Financial Corp Boosts Stake in Robert Half Inc. (NYSE:RHI)

Truist Financial Corp raised its position in shares of Robert Half Inc. (NYSE:RHI) by 11.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 38,728 shares of the business services provider’s stock after buying an additional 3,858 shares during the quarter. Truist Financial Corp’s holdings in Robert Half were worth $2,729,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RHI. Mawer Investment Management Ltd. boosted its position in shares of Robert Half by 28.9% in the third quarter. Mawer Investment Management Ltd. now owns 4,681,340 shares of the business services provider’s stock worth $315,569,000 after buying an additional 1,049,005 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Robert Half in the third quarter worth about $41,096,000. Janus Henderson Group PLC lifted its stake in shares of Robert Half by 828.9% in the third quarter. Janus Henderson Group PLC now owns 463,570 shares of the business services provider’s stock worth $31,249,000 after acquiring an additional 413,664 shares in the last quarter. Pzena Investment Management LLC lifted its stake in shares of Robert Half by 41.9% in the third quarter. Pzena Investment Management LLC now owns 1,027,683 shares of the business services provider’s stock worth $69,276,000 after acquiring an additional 303,421 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Robert Half by 20.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,343,030 shares of the business services provider’s stock worth $90,534,000 after acquiring an additional 225,210 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Robert Half Trading Down 1.3 %

NYSE:RHI opened at $59.70 on Wednesday. Robert Half Inc. has a 1 year low of $57.05 and a 1 year high of $83.25. The firm has a 50 day moving average of $66.45 and a 200-day moving average of $67.59. The stock has a market capitalization of $6.10 billion, a P/E ratio of 24.47 and a beta of 1.23.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). Robert Half had a return on equity of 17.20% and a net margin of 4.34%. As a group, analysts forecast that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Tuesday, February 25th. This is a positive change from Robert Half’s previous quarterly dividend of $0.53. Robert Half’s payout ratio is currently 96.72%.

Analyst Ratings Changes

RHI has been the topic of several research reports. BNP Paribas upgraded Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 price objective on the stock in a research note on Monday, February 10th. Barclays upgraded Robert Half from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $60.00 to $80.00 in a research note on Friday, January 3rd. JPMorgan Chase & Co. cut their price objective on Robert Half from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Finally, Truist Financial upgraded Robert Half from a “hold” rating to a “buy” rating and increased their price target for the stock from $62.00 to $90.00 in a research report on Friday, December 13th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Robert Half has an average rating of “Hold” and an average price target of $74.92.

Robert Half 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.