Principal Financial Group Inc. Trims Stock Position in Robert Half Inc. (NYSE:RHI)

Principal Financial Group Inc. reduced its stake in Robert Half Inc. (NYSE:RHIFree Report) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 141,949 shares of the business services provider’s stock after selling 1,280 shares during the quarter. Principal Financial Group Inc. owned 0.13% of Robert Half worth $10,677,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Resurgent Financial Advisors LLC purchased a new position in Robert Half in the 4th quarter valued at $27,000. Salem Investment Counselors Inc. acquired a new position in shares of Robert Half during the second quarter worth about $28,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Robert Half during the fourth quarter worth about $28,000. EverSource Wealth Advisors LLC raised its holdings in Robert Half by 964.7% during the first quarter. EverSource Wealth Advisors LLC now owns 362 shares of the business services provider’s stock worth $29,000 after purchasing an additional 328 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Robert Half in the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 91.63% of the company’s stock.

Insider Activity at Robert Half

In related news, EVP Robert W. Glass sold 14,751 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $75.15, for a total value of $1,108,537.65. Following the sale, the executive vice president now owns 209,927 shares of the company’s stock, valued at approximately $15,776,014.05. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on RHI shares. Bank of America dropped their target price on Robert Half from $63.00 to $53.00 in a research report on Thursday, July 27th. BMO Capital Markets dropped their target price on Robert Half from $84.00 to $76.00 in a research report on Thursday, July 27th. Robert W. Baird dropped their target price on Robert Half from $88.00 to $82.00 in a research report on Wednesday, July 26th. UBS Group started coverage on Robert Half in a research report on Tuesday, November 7th. They set a “sell” rating and a $60.00 target price on the stock. Finally, William Blair reiterated a “market perform” rating on shares of Robert Half in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from, the stock currently has an average rating of “Hold” and an average target price of $68.63.

View Our Latest Report on RHI

Robert Half Price Performance

RHI opened at $80.85 on Monday. The stock has a market cap of $8.56 billion, a P/E ratio of 18.33, a P/E/G ratio of 16.48 and a beta of 1.26. The stock’s 50 day simple moving average is $74.94 and its 200 day simple moving average is $73.98. Robert Half Inc. has a 1-year low of $64.65 and a 1-year high of $89.78.

Robert Half (NYSE:RHIGet Free Report) last released its quarterly earnings results on Tuesday, October 24th. The business services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Robert Half had a return on equity of 29.60% and a net margin of 7.09%. The company’s revenue was down 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.53 EPS. Research analysts expect that Robert Half Inc. will post 3.86 EPS for the current fiscal year.

Robert Half Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, November 22nd. Robert Half’s payout ratio is currently 43.54%.

About Robert Half

(Free Report)

Robert Half Inc provides talent solutions and business consulting services in North America, South America, Europe, Asia, and Australia. The company operates through three segments: Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti. 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.

Further Reading

Institutional Ownership by Quarter for Robert Half (NYSE:RHI)

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