Advisors Asset Management Inc. Acquires 61,907 Shares of Robert Half Inc. $RHI

Advisors Asset Management Inc. increased its stake in Robert Half Inc. (NYSE:RHI) by 198.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,123 shares of the business services provider’s stock after acquiring an additional 61,907 shares during the quarter. Advisors Asset Management Inc. owned 0.09% of Robert Half worth $3,164,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Evergreen Capital Management LLC bought a new stake in Robert Half in the 3rd quarter valued at about $1,204,000. Frank Rimerman Advisors LLC acquired a new stake in Robert Half in the third quarter valued at approximately $1,860,000. Allianz Asset Management GmbH increased its holdings in shares of Robert Half by 46.5% during the third quarter. Allianz Asset Management GmbH now owns 530,056 shares of the business services provider’s stock valued at $18,011,000 after acquiring an additional 168,150 shares in the last quarter. Quadrature Capital Ltd increased its holdings in shares of Robert Half by 531.4% during the second quarter. Quadrature Capital Ltd now owns 28,371 shares of the business services provider’s stock valued at $1,165,000 after acquiring an additional 23,878 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Robert Half by 25.7% during the second quarter. Russell Investments Group Ltd. now owns 404,024 shares of the business services provider’s stock worth $16,585,000 after purchasing an additional 82,645 shares during the period. 92.41% of the stock is owned by institutional investors.

Robert Half Trading Down 2.5%

Shares of Robert Half stock opened at $24.76 on Friday. The business’s fifty day simple moving average is $28.30 and its 200 day simple moving average is $30.83. Robert Half Inc. has a 12 month low of $24.45 and a 12 month high of $61.16. The firm has a market capitalization of $2.50 billion, a P/E ratio of 18.61 and a beta of 0.88.

Robert Half (NYSE:RHI) last announced its earnings results on Thursday, January 29th. The business services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. Robert Half had a return on equity of 10.20% and a net margin of 2.47%.The business’s revenue was down 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.53 EPS. Analysts predict that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th will be given a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $2.36 annualized dividend and a yield of 9.5%. Robert Half’s payout ratio is currently 177.44%.

Analyst Ratings Changes

RHI has been the subject of a number of recent research reports. Zacks Research upgraded shares of Robert Half from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. UBS Group reduced their price objective on shares of Robert Half from $30.00 to $27.00 and set a “sell” rating for the company in a report on Thursday, October 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Robert Half in a report on Monday, December 29th. BNP Paribas Exane downgraded Robert Half from a “neutral” rating to an “underperform” rating and set a $22.00 price target for the company. in a research note on Friday, December 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Robert Half from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $33.50.

About Robert Half

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half’s shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.