Mirae Asset Global Investments Co. Ltd. Cuts Position in Robert Half Inc. (NYSE:RHI)

Mirae Asset Global Investments Co. Ltd. lowered its position in shares of Robert Half Inc. (NYSE:RHI) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,336 shares of the business services provider’s stock after selling 1,500 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Robert Half were worth $3,371,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Robert Half by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 13,674,644 shares of the business services provider’s stock valued at $1,561,370,000 after purchasing an additional 42,681 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in Robert Half by 116,277.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,941,582 shares of the business services provider’s stock valued at $586,327,000 after buying an additional 7,934,758 shares during the period. Capital World Investors bought a new position in shares of Robert Half during the first quarter valued at about $636,060,000. State Street Corp increased its holdings in shares of Robert Half by 2.5% in the second quarter. State Street Corp now owns 4,647,446 shares of the business services provider’s stock worth $349,581,000 after buying an additional 113,299 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Robert Half by 46.5% in the fourth quarter. Alliancebernstein L.P. now owns 2,808,208 shares of the business services provider’s stock worth $207,330,000 after buying an additional 891,202 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Robert Half Price Performance

Shares of NYSE:RHI opened at $69.31 on Thursday. The stock’s 50-day moving average is $78.45 and its 200 day moving average is $79.59. The company has a market cap of $7.29 billion, a PE ratio of 17.91, a P/E/G ratio of 17.59 and a beta of 1.26. Robert Half Inc. has a 1 year low of $64.65 and a 1 year high of $88.39.

Robert Half (NYSE:RHI) last posted its earnings results on Tuesday, January 30th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Robert Half had a return on equity of 25.73% and a net margin of 6.43%. The business’s revenue was down 14.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.37 earnings per share. Analysts expect that Robert Half Inc. will post 3.34 EPS for the current fiscal year.

Robert Half Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.53 per share. This is a positive change from Robert Half’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 22nd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.06%. Robert Half’s payout ratio is presently 54.78%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RHI. BMO Capital Markets reduced their price target on Robert Half from $85.00 to $80.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 31st. Truist Financial raised their target price on shares of Robert Half from $66.00 to $72.00 and gave the stock a “sell” rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $68.57.

Insider Activity at Robert Half

In other Robert Half news, EVP Robert W. Glass sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $80.46, for a total value of $603,450.00. Following the completion of the sale, the executive vice president now directly owns 186,062 shares in the company, valued at $14,970,548.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.80% of the stock is owned by corporate insiders.

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 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.