Assetmark Inc. Decreases Stock Holdings in Robert Half Inc. (NYSE:RHI)

Assetmark Inc. lowered its stake in shares of Robert Half Inc. (NYSE:RHI) by 33.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,443 shares of the business services provider’s stock after selling 737 shares during the period. Assetmark Inc.’s holdings in Robert Half were worth $102,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Private Trust Co. NA lifted its holdings in shares of Robert Half by 79.7% in the third quarter. Private Trust Co. NA now owns 433 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. Eastern Bank acquired a new position in Robert Half during the fourth quarter worth approximately $35,000. V Square Quantitative Management LLC increased its position in Robert Half by 70.6% during the fourth quarter. V Square Quantitative Management LLC now owns 679 shares of the business services provider’s stock worth $48,000 after purchasing an additional 281 shares during the last quarter. Venturi Wealth Management LLC increased its position in Robert Half by 310.3% during the third quarter. Venturi Wealth Management LLC now owns 796 shares of the business services provider’s stock worth $54,000 after purchasing an additional 602 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Robert Half during the third quarter worth approximately $56,000. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Robert Half Trading Up 2.1 %

Shares of RHI stock opened at $53.06 on Friday. The company has a market capitalization of $5.42 billion, a PE ratio of 21.75 and a beta of 1.22. The firm has a fifty day simple moving average of $62.81 and a 200-day simple moving average of $67.02. Robert Half Inc. has a twelve month low of $51.55 and a twelve month high of $81.85.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Robert Half had a net margin of 4.34% and a return on equity of 17.20%. Equities research analysts predict that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 4.45%. This is an increase from Robert Half’s previous quarterly dividend of $0.53. The ex-dividend date was Tuesday, February 25th. Robert Half’s dividend payout ratio is 96.72%.

Wall Street Analyst Weigh In

Several brokerages recently commented on RHI. Barclays raised shares of Robert Half from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $60.00 to $80.00 in a research report on Friday, January 3rd. StockNews.com lowered shares of Robert Half from a “buy” rating to a “hold” rating in a research report on Wednesday. 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 report on Monday, February 10th. Truist Financial raised shares of Robert Half from a “hold” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $90.00 in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Robert Half from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.