Livforsakringsbolaget Skandia Omsesidigt Trims Stock Holdings in Robert Half Inc. (NYSE:RHI)

Livforsakringsbolaget Skandia Omsesidigt trimmed its position in Robert Half Inc. (NYSE:RHI) by 78.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,760 shares of the business services provider’s stock after selling 29,100 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Robert Half were worth $625,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in shares of Robert Half by 13.9% in the first quarter. Janney Montgomery Scott LLC now owns 238,737 shares of the business services provider’s stock worth $19,235,000 after purchasing an additional 29,121 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Robert Half in the first quarter worth about $837,000. LPL Financial LLC raised its stake in shares of Robert Half by 5.2% in the fourth quarter. LPL Financial LLC now owns 36,592 shares of the business services provider’s stock worth $2,702,000 after purchasing an additional 1,820 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Robert Half by 5.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,350,880 shares of the business services provider’s stock worth $108,830,000 after purchasing an additional 69,754 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of Robert Half by 41.9% in the first quarter. M&T Bank Corp now owns 7,700 shares of the business services provider’s stock worth $620,000 after purchasing an additional 2,273 shares during the last quarter. 91.63% of the stock is currently owned by hedge funds and other institutional investors.

Robert Half Stock Performance

Shares of NYSE:RHI traded down $0.07 during trading on Friday, reaching $73.20. The stock had a trading volume of 669,026 shares, compared to its average volume of 637,562. The business has a fifty day moving average price of $76.56 and a 200-day moving average price of $74.48. The stock has a market cap of $7.84 billion, a PE ratio of 14.52 and a beta of 1.32. Robert Half Inc. has a 1-year low of $64.65 and a 1-year high of $89.78.

Robert Half (NYSE:RHI) last released its quarterly earnings data on Tuesday, July 25th. The business services provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.13). The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.69 billion. Robert Half had a return on equity of 34.51% and a net margin of 7.84%. The business’s quarterly revenue was down 12.0% on a year-over-year basis. During the same period last year, the firm posted $1.60 EPS. Sell-side analysts expect that Robert Half Inc. will post 3.72 earnings per share for the current year.

Robert Half Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be given a $0.48 dividend. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $1.92 dividend on an annualized basis and a yield of 2.62%. Robert Half’s dividend payout ratio is currently 38.10%.

Analysts Set New Price Targets

RHI has been the subject of several research analyst reports. BMO Capital Markets reduced their price objective on Robert Half from $84.00 to $76.00 in a research note on Thursday, July 27th. StockNews.com began coverage on Robert Half in a research report on Wednesday, August 23rd. They set a “hold” rating for the company. Bank of America reduced their price target on Robert Half from $63.00 to $53.00 in a research report on Thursday, July 27th. Robert W. Baird reduced their price target on Robert Half from $88.00 to $82.00 in a research report on Wednesday, July 26th. Finally, UBS Group initiated coverage on Robert Half in a research report on Wednesday, May 31st. They set a “buy” rating and a $82.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Robert Half currently has an average rating of “Hold” and an average target price of $71.22.

Insider Buying and Selling at Robert Half

In other Robert Half news, EVP Robert W. Glass sold 14,751 shares of Robert Half stock in a transaction 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 in the company, valued at $15,776,014.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Dirk A. Kempthorne sold 2,050 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $74.15, for a total value of $152,007.50. Following the sale, the director now owns 12,934 shares in the company, valued at approximately $959,056.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert W. Glass sold 14,751 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $75.15, for a total value of $1,108,537.65. Following the completion of the sale, the executive vice president now owns 209,927 shares in the company, valued at approximately $15,776,014.05. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

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 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.