JPMorgan Chase & Co. Sells 717,572 Shares of Robert Half Inc. $RHI

JPMorgan Chase & Co. reduced its holdings in Robert Half Inc. (NYSE:RHI) by 81.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 161,742 shares of the business services provider’s stock after selling 717,572 shares during the quarter. JPMorgan Chase & Co.’s holdings in Robert Half were worth $5,496,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Robert Half during the second quarter valued at approximately $34,000. Danske Bank A S purchased a new stake in Robert Half in the third quarter worth $37,000. Hantz Financial Services Inc. boosted its holdings in Robert Half by 952.4% in the third quarter. Hantz Financial Services Inc. now owns 1,105 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 1,000 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Robert Half by 362.3% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,239 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 971 shares during the period. Finally, SJS Investment Consulting Inc. increased its position in Robert Half by 20,257.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 1,425 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 1,418 shares during the period. 92.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RHI has been the subject of several research analyst reports. Zacks Research raised shares of Robert Half from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Truist Financial boosted their price target on shares of Robert Half from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 30th. BNP Paribas Exane downgraded shares of Robert Half from a “neutral” rating to an “underperform” rating and set a $22.00 price target for the company. in a research note on Friday, December 5th. The Goldman Sachs Group raised their price objective on shares of Robert Half from $24.00 to $27.00 and gave the stock a “sell” rating in a report on Tuesday, February 3rd. Finally, Robert W. Baird set a $50.00 price objective on Robert Half in a research report on Friday, January 30th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Robert Half has a consensus rating of “Reduce” and an average target price of $31.75.

Robert Half Trading Down 2.7%

Shares of Robert Half stock opened at $24.71 on Thursday. Robert Half Inc. has a 12 month low of $21.83 and a 12 month high of $55.24. The firm has a market capitalization of $2.50 billion, a P/E ratio of 18.58 and a beta of 0.85. The business has a fifty day simple moving average of $25.96 and a two-hundred day simple moving average of $28.07.

Robert Half (NYSE:RHI) last released its earnings results on Thursday, January 29th. The business services provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. Robert Half had a net margin of 2.47% and a return on equity of 10.26%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. Analysts predict that Robert Half Inc. will post 2.48 earnings per share for the current year.

Robert Half Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 9.6%. The ex-dividend date was Wednesday, February 25th. Robert Half’s dividend payout ratio is 177.44%.

About Robert Half

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half’s shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.