SG Americas Securities LLC Trims Stake in Robert Half Inc. (NYSE:RHI)

SG Americas Securities LLC cut its stake in Robert Half Inc. (NYSE:RHI) by 88.2% during the third quarter, HoldingsChannel reports. The firm owned 3,703 shares of the business services provider’s stock after selling 27,587 shares during the period. SG Americas Securities LLC’s holdings in Robert Half were worth $250,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Robert Half by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 12,795,282 shares of the business services provider’s stock worth $1,014,410,000 after acquiring an additional 366,978 shares in the last quarter. Boston Partners grew its stake in shares of Robert Half by 14.7% during the 1st quarter. Boston Partners now owns 3,749,749 shares of the business services provider’s stock worth $296,963,000 after purchasing an additional 479,384 shares during the period. Mawer Investment Management Ltd. grew its stake in shares of Robert Half by 105.4% during the 1st quarter. Mawer Investment Management Ltd. now owns 3,655,626 shares of the business services provider’s stock worth $289,818,000 after purchasing an additional 1,875,476 shares during the period. Pacer Advisors Inc. grew its stake in Robert Half by 54.7% in the 2nd quarter. Pacer Advisors Inc. now owns 1,628,919 shares of the business services provider’s stock valued at $104,218,000 after acquiring an additional 575,879 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Robert Half by 101.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,564,247 shares of the business services provider’s stock worth $99,439,000 after purchasing an additional 786,031 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors.

Insider Transactions at Robert Half

In related news, Director Dirk A. Kempthorne sold 1,300 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $63.09, for a total transaction of $82,017.00. Following the sale, the director now directly owns 13,342 shares in the company, valued at approximately $841,746.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.

Robert Half Stock Performance

NYSE:RHI opened at $65.56 on Tuesday. The stock has a fifty day moving average price of $64.46 and a two-hundred day moving average price of $65.70. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 19.63 and a beta of 1.23. Robert Half Inc. has a 1 year low of $57.05 and a 1 year high of $88.39.

Robert Half (NYSE:RHI) last posted its earnings results on Wednesday, July 24th. The business services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.05). The firm 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 firm’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period last year, the company posted $1.00 EPS. On average, analysts predict that Robert Half Inc. will post 2.51 EPS for the current year.

Robert Half Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were given a dividend of $0.53 per share. The ex-dividend date was Friday, August 23rd. This represents a $2.12 annualized dividend and a yield of 3.23%. Robert Half’s dividend payout ratio (DPR) is presently 63.47%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Truist Financial reduced their price target on Robert Half from $72.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, July 26th. Barclays lowered their price objective on Robert Half from $70.00 to $60.00 and set an “underweight” rating for the company in a research report on Friday, July 26th. StockNews.com downgraded Robert Half from a “buy” rating to a “hold” rating in a report on Friday, July 5th. JPMorgan Chase & Co. lowered their price target on Robert Half from $74.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Finally, BMO Capital Markets reduced their price objective on Robert Half from $72.00 to $64.00 and set a “market perform” rating for the company in a research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $67.86.

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.