Wealthfront Advisers LLC Grows Stake in Robert Half Inc. (NYSE:RHI)

Wealthfront Advisers LLC increased its stake in Robert Half Inc. (NYSE:RHI) by 825.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,031 shares of the business services provider’s stock after acquiring an additional 25,893 shares during the period. Wealthfront Advisers LLC’s holdings in Robert Half were worth $2,046,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its position in shares of Robert Half by 1.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 12,326 shares of the business services provider’s stock valued at $868,000 after buying an additional 166 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in shares of Robert Half by 5.8% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,355 shares of the business services provider’s stock valued at $236,000 after buying an additional 183 shares during the period. Private Trust Co. NA boosted its position in shares of Robert Half by 79.7% during the third quarter. Private Trust Co. NA now owns 433 shares of the business services provider’s stock valued at $29,000 after buying an additional 192 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Robert Half by 0.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 30,716 shares of the business services provider’s stock valued at $2,164,000 after buying an additional 205 shares during the period. Finally, M&T Bank Corp boosted its position in shares of Robert Half by 3.7% during the third quarter. M&T Bank Corp now owns 6,419 shares of the business services provider’s stock valued at $432,000 after buying an additional 227 shares during the period. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Robert Half Stock Up 2.1 %

Shares of NYSE:RHI opened at $53.06 on Friday. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 21.75 and a beta of 1.22. Robert Half Inc. has a 52 week low of $51.55 and a 52 week high of $81.85. The firm has a 50 day moving average of $62.81 and a 200 day moving average of $67.02.

Robert Half (NYSE:RHI) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $0.53 earnings per share (EPS) 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%. On average, sell-side analysts expect that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were issued a $0.59 dividend. This is a positive change from Robert Half’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 4.45%. The ex-dividend date was Tuesday, February 25th. Robert Half’s payout ratio is currently 96.72%.

Analysts Set New Price Targets

Several research analysts have issued reports on RHI shares. Truist Financial upgraded Robert Half from a “hold” rating to a “buy” rating and boosted their target price for the company from $62.00 to $90.00 in a research report on Friday, December 13th. JPMorgan Chase & Co. decreased their price target on shares of Robert Half from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Barclays raised shares of Robert Half from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $60.00 to $80.00 in a research note on Friday, January 3rd. BNP Paribas raised shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 price target for the company in a research note on Monday, February 10th. Finally, StockNews.com downgraded shares of Robert Half from a “buy” rating to a “hold” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.92.

About Robert Half

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.