JPMorgan Chase & Co. Grows Holdings in Robert Half Inc. (NYSE:RHI)

JPMorgan Chase & Co. raised its holdings in Robert Half Inc. (NYSE:RHI) by 19.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 323,655 shares of the business services provider’s stock after buying an additional 53,188 shares during the period. JPMorgan Chase & Co.’s holdings in Robert Half were worth $22,805,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its holdings in shares of Robert Half by 11.1% during the third quarter. HighTower Advisors LLC now owns 36,048 shares of the business services provider’s stock worth $2,436,000 after purchasing an additional 3,606 shares during the period. National Bank of Canada FI raised its stake in Robert Half by 1,344.7% during the third quarter. National Bank of Canada FI now owns 37,215 shares of the business services provider’s stock worth $2,509,000 after acquiring an additional 34,639 shares during the period. Orion Portfolio Solutions LLC bought a new position in Robert Half in the third quarter worth about $263,000. MML Investors Services LLC acquired a new position in Robert Half in the third quarter valued at approximately $225,000. Finally, Barclays PLC grew its holdings in shares of Robert Half by 131.6% during the third quarter. Barclays PLC now owns 344,233 shares of the business services provider’s stock valued at $23,205,000 after purchasing an additional 195,570 shares during the last quarter. 92.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RHI has been the subject of several analyst reports. BNP Paribas raised shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 price target for the company in a report on Monday, February 10th. StockNews.com raised shares of Robert Half from a “hold” rating to a “buy” rating in a research note on Monday. JPMorgan Chase & Co. dropped their price target on shares of Robert Half from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Truist Financial upgraded Robert Half from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $90.00 in a research report on Friday, December 13th. Finally, Barclays upgraded Robert Half from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $60.00 to $80.00 in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.92.

Robert Half Price Performance

Robert Half stock opened at $51.53 on Thursday. Robert Half Inc. has a one year low of $44.97 and a one year high of $78.41. The company’s fifty day moving average price is $55.81 and its two-hundred day moving average price is $65.43. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 21.12 and a beta of 1.13.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $0.53 earnings per share (EPS) 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, sell-side analysts anticipate that Robert Half Inc. will post 2.48 earnings per share for the current year.

Robert Half Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 4.58%. This is a positive change from Robert Half’s previous quarterly dividend of $0.53. The ex-dividend date was Tuesday, February 25th. Robert Half’s dividend payout ratio (DPR) is currently 96.72%.

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.