M&G Plc Invests $294,000 in Robert Half Inc. (NYSE:RHI)

M&G Plc acquired a new stake in Robert Half Inc. (NYSE:RHI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,594 shares of the business services provider’s stock, valued at approximately $294,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Family Legacy Inc. increased its stake in shares of Robert Half by 2.0% during the first quarter. Family Legacy Inc. now owns 7,177 shares of the business services provider’s stock worth $569,000 after purchasing an additional 144 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Robert Half by 2.8% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,477 shares of the business services provider’s stock valued at $569,000 after acquiring an additional 175 shares in the last quarter. WCM Investment Management LLC increased its position in Robert Half by 7.5% during the first quarter. WCM Investment Management LLC now owns 2,557 shares of the business services provider’s stock worth $203,000 after acquiring an additional 178 shares during the period. Fifth Third Bancorp boosted its holdings in Robert Half by 6.6% in the 1st quarter. Fifth Third Bancorp now owns 2,888 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 180 shares during the period. Finally, Cetera Advisor Networks LLC grew its position in shares of Robert Half by 0.3% during the 4th quarter. Cetera Advisor Networks LLC now owns 66,663 shares of the business services provider’s stock worth $5,861,000 after purchasing an additional 186 shares in the last quarter. Institutional investors own 92.41% of the company’s stock.

Robert Half Trading Up 2.5 %

RHI opened at $60.80 on Wednesday. The company has a market cap of $6.38 billion, a P/E ratio of 18.20, a PEG ratio of 5.91 and a beta of 1.25. The company’s 50 day moving average is $63.41 and its 200-day moving average is $70.96. Robert Half Inc. has a 1-year low of $57.05 and a 1-year high of $88.39.

Robert Half (NYSE:RHI) last issued its earnings results on Wednesday, July 24th. The business services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Robert Half had a net margin of 5.26% and a return on equity of 20.41%. The business’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 EPS. On average, equities analysts forecast that Robert Half Inc. will post 2.58 EPS for the current year.

Robert Half Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 23rd will be issued a $0.53 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.49%. Robert Half’s payout ratio is presently 63.47%.

Insider Buying and Selling at Robert Half

In other Robert Half news, Director Dirk A. Kempthorne sold 1,300 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $63.09, for a total value of $82,017.00. Following the completion of the transaction, the director now directly owns 13,342 shares in the company, valued at approximately $841,746.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

RHI has been the subject of several recent research reports. Robert W. Baird cut their price target on Robert Half from $84.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Barclays reduced their target price on Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a report on Friday, July 26th. Truist Financial dropped their price target on Robert Half from $72.00 to $62.00 and set a “hold” rating for the company in a research note on Friday, July 26th. BNP Paribas upgraded shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Tuesday, June 11th. Finally, StockNews.com cut shares of Robert Half from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. Two research analysts have 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.com, the stock presently has an average rating of “Hold” and an average target price of $67.86.

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.