The Manufacturers Life Insurance Company Purchases Shares of 24,368 Robert Half Inc. $RHI

The Manufacturers Life Insurance Company acquired a new position in shares of Robert Half Inc. (NYSE:RHI) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 24,368 shares of the business services provider’s stock, valued at approximately $748,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Trajan Wealth LLC bought a new position in shares of Robert Half during the second quarter worth approximately $211,000. Sanctuary Advisors LLC acquired a new stake in Robert Half during the 2nd quarter worth approximately $226,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Robert Half in the 2nd quarter valued at $17,876,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in Robert Half in the 2nd quarter valued at $19,349,000. Finally, Kiltearn Partners LLP acquired a new position in Robert Half in the 2nd quarter valued at $9,335,000. Institutional investors and hedge funds own 92.41% of the company’s stock.

Robert Half Stock Down 1.2%

RHI opened at $42.49 on Friday. Robert Half Inc. has a twelve month low of $21.83 and a twelve month high of $46.70. The company has a 50-day simple moving average of $39.78 and a 200 day simple moving average of $31.25. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 36.95 and a beta of 0.81.

Robert Half (NYSE:RHI) last released its earnings results on Thursday, July 23rd. The business services provider reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. Sell-side analysts anticipate that Robert Half Inc. will post 1.27 EPS for the current fiscal year.

Robert Half Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, August 25th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, August 25th. Robert Half’s dividend payout ratio (DPR) is 205.22%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RHI. Truist Financial increased their price objective on Robert Half from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Zacks Research upgraded shares of Robert Half from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Robert W. Baird set a $47.00 price target on shares of Robert Half in a research report on Monday, July 27th. The Goldman Sachs Group lifted their price objective on shares of Robert Half from $26.00 to $29.00 and gave the stock a “sell” rating in a research note on Friday, July 24th. Finally, Weiss Ratings raised shares of Robert Half from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 18th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $34.75.

Robert Half Profile

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.