MML Investors Services LLC reduced its position in shares of Robert Half International Inc. (NYSE:RHI – Get Rating) by 62.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,932 shares of the business services provider’s stock after selling 6,627 shares during the period. MML Investors Services LLC’s holdings in Robert Half International were worth $301,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital World Investors bought a new position in shares of Robert Half International during the 1st quarter worth approximately $636,060,000. Renaissance Technologies LLC boosted its position in Robert Half International by 398.1% in the second quarter. Renaissance Technologies LLC now owns 953,300 shares of the business services provider’s stock worth $71,393,000 after purchasing an additional 761,900 shares during the last quarter. Wellington Management Group LLP grew its stake in Robert Half International by 4,173.7% in the 1st quarter. Wellington Management Group LLP now owns 653,580 shares of the business services provider’s stock valued at $74,625,000 after purchasing an additional 638,287 shares during the period. AQR Capital Management LLC increased its position in shares of Robert Half International by 19.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,878,597 shares of the business services provider’s stock valued at $138,302,000 after purchasing an additional 309,060 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Robert Half International by 60.4% during the 1st quarter. Royal Bank of Canada now owns 641,260 shares of the business services provider’s stock worth $73,220,000 after purchasing an additional 241,574 shares during the period. 94.13% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of Robert Half International from $79.00 to $78.00 and set a “market perform” rating for the company in a report on Monday, January 30th. JPMorgan Chase & Co. dropped their price objective on Robert Half International from $76.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, January 27th. BNP Paribas began coverage on Robert Half International in a research note on Thursday, January 5th. They issued an “underperform” rating and a $70.00 target price on the stock. Finally, StockNews.com raised Robert Half International from a “hold” rating to a “buy” rating in a research report on Tuesday, February 7th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $77.44.
Robert Half International Price Performance
Robert Half International (NYSE:RHI – Get Rating) last issued its earnings results on Thursday, January 26th. The business services provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.36 by $0.01. Robert Half International had a return on equity of 44.01% and a net margin of 9.09%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company earned $1.51 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts expect that Robert Half International Inc. will post 4.81 earnings per share for the current fiscal year.
Robert Half International Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Friday, February 24th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, February 23rd. This represents a $1.92 annualized dividend and a yield of 2.44%. This is a boost from Robert Half International’s previous quarterly dividend of $0.43. Robert Half International’s payout ratio is currently 31.89%.
Robert Half International declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 9th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
Insider Buying and Selling
In other Robert Half International news, EVP Robert W. Glass sold 12,500 shares of the firm’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $80.94, for a total value of $1,011,750.00. Following the completion of the transaction, the executive vice president now directly owns 217,049 shares of the company’s stock, valued at approximately $17,567,946.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Robert Half International news, Director Dirk A. Kempthorne sold 3,456 shares of Robert Half International stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $80.54, for a total transaction of $278,346.24. Following the completion of the sale, the director now directly owns 10,828 shares in the company, valued at $872,087.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert W. Glass sold 12,500 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $80.94, for a total transaction of $1,011,750.00. Following the completion of the transaction, the executive vice president now directly owns 217,049 shares in the company, valued at approximately $17,567,946.06. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.
About Robert Half International
Robert Half International, Inc engages in the provision of staffing and risk consulting services. It operates through the following business segments: Temporary and Consultant Staffing, Permanent Placement Staffing, and Risk Consulting and Internal Audit Services. The Temporary and Consultant Staffing segment offers staffing in the accounting and finance, administrative and office, information technology, legal, advertising, marketing, and web design fields.
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