The Manufacturers Life Insurance Company Sells 11,617 Shares of Robert Half Inc. (NYSE:RHI)

The Manufacturers Life Insurance Company cut its stake in Robert Half Inc. (NYSE:RHI) by 32.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,108 shares of the business services provider’s stock after selling 11,617 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Robert Half were worth $1,625,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RHI. Thrivent Financial for Lutherans raised its position in shares of Robert Half by 27,895.0% in the second quarter. Thrivent Financial for Lutherans now owns 1,244,939 shares of the business services provider’s stock valued at $79,652,000 after purchasing an additional 1,240,492 shares during the period. Mawer Investment Management Ltd. raised its position in shares of Robert Half by 28.9% in the third 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 period. AQR Capital Management LLC raised its position in shares of Robert Half by 101.0% in the second quarter. AQR Capital Management LLC now owns 1,564,247 shares of the business services provider’s stock valued at $99,439,000 after purchasing an additional 786,031 shares during the period. Pacer Advisors Inc. raised its position in shares of Robert Half by 54.7% in the second quarter. Pacer Advisors Inc. now owns 1,628,919 shares of the business services provider’s stock valued at $104,218,000 after purchasing an additional 575,879 shares during the period. Finally, Miller Howard Investments Inc. NY bought a new position in shares of Robert Half in the second quarter valued at about $35,357,000. 92.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. dropped their price objective on shares of Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $69.00.

Robert Half Stock Performance

NYSE:RHI opened at $75.19 on Tuesday. Robert Half Inc. has a 52 week low of $57.05 and a 52 week high of $88.39. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 27.44 and a beta of 1.24. The firm’s 50-day simple moving average is $70.93 and its 200 day simple moving average is $66.16.

Robert Half (NYSE:RHI) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the firm earned $0.90 earnings per share. Robert Half’s revenue for the quarter was down 6.3% compared to the same quarter last year. Sell-side analysts anticipate that Robert Half Inc. will post 2.45 EPS for the current year.

Robert Half Announces Dividend

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 $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, November 25th. Robert Half’s payout ratio is presently 77.37%.

Insider Activity

In other news, Director Dirk A. Kempthorne sold 1,032 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $915,248.50. The trade was a 7.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

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.