First Horizon Advisors Inc. Lowers Holdings in Robert Half Inc. (NYSE:RHI)

First Horizon Advisors Inc. reduced its holdings in shares of Robert Half Inc. (NYSE:RHI) by 59.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 423 shares of the business services provider’s stock after selling 620 shares during the period. First Horizon Advisors Inc.’s holdings in Robert Half were worth $29,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RHI. iA Global Asset Management Inc. increased its position in shares of Robert Half by 167.3% during the first quarter. iA Global Asset Management Inc. now owns 21,414 shares of the business services provider’s stock worth $1,698,000 after acquiring an additional 13,404 shares during the period. Mawer Investment Management Ltd. increased its holdings in Robert Half by 28.9% during the 3rd quarter. Mawer Investment Management Ltd. now owns 4,681,340 shares of the business services provider’s stock worth $315,569,000 after purchasing an additional 1,049,005 shares during the period. Cetera Investment Advisers increased its holdings in Robert Half by 69.6% during the 1st quarter. Cetera Investment Advisers now owns 64,729 shares of the business services provider’s stock worth $5,132,000 after purchasing an additional 26,561 shares during the period. Achmea Investment Management B.V. boosted its stake in shares of Robert Half by 9.2% in the 2nd quarter. Achmea Investment Management B.V. now owns 152,251 shares of the business services provider’s stock valued at $9,741,000 after buying an additional 12,772 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Robert Half by 182.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 25,100 shares of the business services provider’s stock valued at $1,606,000 after buying an additional 16,212 shares during the period. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reduced their target price on shares of Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given 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 $69.00.

Robert Half Stock Up 2.3 %

Shares of RHI opened at $75.80 on Tuesday. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 27.66 and a beta of 1.23. Robert Half Inc. has a 52-week low of $57.05 and a 52-week high of $88.39. The stock has a 50 day moving average price of $69.08 and a 200 day moving average price of $65.80.

Robert Half (NYSE:RHI) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 EPS. On average, equities analysts anticipate that Robert Half Inc. will post 2.45 EPS for the current fiscal year.

Robert Half Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Monday, November 25th. Robert Half’s dividend payout ratio (DPR) is currently 77.37%.

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.