Kentucky Retirement Systems Insurance Trust Fund Takes Position in Robert Half Inc. (NYSE:RHI)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Robert Half Inc. (NYSE:RHI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,908 shares of the business services provider’s stock, valued at approximately $346,000.

Several other hedge funds also recently modified their holdings of RHI. Mawer Investment Management Ltd. boosted its stake in shares of Robert Half by 28.9% in the 3rd quarter. Mawer Investment Management Ltd. now owns 4,681,340 shares of the business services provider’s stock valued at $315,569,000 after purchasing an additional 1,049,005 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Robert Half in the 3rd quarter valued at approximately $41,096,000. Janus Henderson Group PLC raised its position in shares of Robert Half by 828.9% in the 3rd quarter. Janus Henderson Group PLC now owns 463,570 shares of the business services provider’s stock valued at $31,249,000 after acquiring an additional 413,664 shares during the period. Pzena Investment Management LLC raised its position in shares of Robert Half by 41.9% in the 3rd quarter. Pzena Investment Management LLC now owns 1,027,683 shares of the business services provider’s stock valued at $69,276,000 after acquiring an additional 303,421 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Robert Half by 20.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,343,030 shares of the business services provider’s stock valued at $90,534,000 after acquiring an additional 225,210 shares during the period. Institutional investors own 92.41% of the company’s stock.

Robert Half Stock Performance

Shares of RHI stock opened at $60.44 on Thursday. The company has a market capitalization of $6.18 billion, a P/E ratio of 24.77 and a beta of 1.23. Robert Half Inc. has a 52 week low of $57.05 and a 52 week high of $83.25. The company’s 50 day moving average price is $67.67 and its two-hundred day moving average price is $67.57.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). Robert Half had a return on equity of 17.20% and a net margin of 4.34%. Analysts forecast that Robert Half Inc. will post 2.53 earnings per share for the current year.

Robert Half Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, February 25th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, February 25th. This is a boost from Robert Half’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 3.90%. Robert Half’s dividend payout ratio (DPR) is currently 96.72%.

Insider Activity at Robert Half

In related news, Director Dirk A. Kempthorne sold 1,032 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total value of $76,729.20. Following the completion of the transaction, the director now directly owns 12,310 shares of the company’s stock, valued at approximately $915,248.50. This trade represents a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RHI. Truist Financial upgraded shares of Robert Half from a “hold” rating to a “buy” rating and increased their price target for the company from $62.00 to $90.00 in a research report on Friday, December 13th. BNP Paribas upgraded shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 price target on the stock in a research report on Monday, February 10th. JPMorgan Chase & Co. cut their price target on shares of Robert Half from $69.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Finally, Barclays upgraded shares of Robert Half from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $60.00 to $80.00 in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $74.92.

Robert Half Company 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.