Franklin Resources Inc. Lowers Stake in Robert Half Inc. (NYSE:RHI)

Franklin Resources Inc. decreased its position in shares of Robert Half Inc. (NYSE:RHI) by 50.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 158,844 shares of the business services provider’s stock after selling 162,924 shares during the period. Franklin Resources Inc.’s holdings in Robert Half were worth $10,755,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC lifted its stake in shares of Robert Half by 6.1% during the 3rd quarter. Tidal Investments LLC now owns 13,946 shares of the business services provider’s stock worth $940,000 after purchasing an additional 797 shares during the period. Sanctuary Advisors LLC increased its stake in Robert Half by 56.8% in the third quarter. Sanctuary Advisors LLC now owns 7,916 shares of the business services provider’s stock valued at $591,000 after purchasing an additional 2,869 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in Robert Half by 34.1% during the third quarter. Rehmann Capital Advisory Group now owns 9,094 shares of the business services provider’s stock worth $619,000 after buying an additional 2,310 shares during the period. TD Private Client Wealth LLC boosted its stake in Robert Half by 1,773.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,604 shares of the business services provider’s stock worth $176,000 after buying an additional 2,465 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Robert Half by 50.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 36,550 shares of the business services provider’s stock valued at $2,464,000 after buying an additional 12,245 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

Insiders Place Their Bets

In other news, Director Dirk A. Kempthorne sold 1,032 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total transaction of $76,729.20. Following the transaction, the director now directly owns 12,310 shares of the company’s stock, valued at approximately $915,248.50. The trade was a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by company insiders.

Analyst Ratings Changes

RHI has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. BNP Paribas downgraded shares of Robert Half from an “outperform” rating to an “underperform” rating and set a $64.00 price target on the stock. in a research note on Monday, December 16th. Finally, Truist Financial raised shares of Robert Half from a “hold” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $90.00 in a research note on Friday, December 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Robert Half presently has a consensus rating of “Hold” and a consensus target price of $71.00.

Robert Half Stock Up 0.6 %

RHI opened at $71.32 on Friday. Robert Half Inc. has a 52-week low of $57.05 and a 52-week high of $88.39. The company has a 50 day moving average of $72.19 and a two-hundred day moving average of $66.71. The company has a market cap of $7.36 billion, a P/E ratio of 26.03 and a beta of 1.24.

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

Robert Half Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Monday, November 25th. Robert Half’s dividend payout ratio (DPR) is presently 77.37%.

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.