Wellington Management Group LLP Sells 83,212 Shares of Robert Half Inc. (NYSE:RHI)

Wellington Management Group LLP reduced its stake in Robert Half Inc. (NYSE:RHI) by 28.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,377 shares of the business services provider’s stock after selling 83,212 shares during the quarter. Wellington Management Group LLP owned about 0.20% of Robert Half worth $14,249,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in RHI. Thrivent Financial for Lutherans boosted its position in shares of Robert Half by 27,895.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,244,939 shares of the business services provider’s stock worth $79,652,000 after purchasing an additional 1,240,492 shares in the last quarter. Mawer Investment Management Ltd. raised its holdings in Robert Half by 28.9% in the 3rd quarter. Mawer Investment Management Ltd. now owns 4,681,340 shares of the business services provider’s stock worth $315,569,000 after acquiring an additional 1,049,005 shares during the last quarter. AQR Capital Management LLC raised its holdings in Robert Half by 101.0% in 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 acquiring an additional 786,031 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Robert Half in the 3rd quarter worth approximately $41,096,000. Finally, Pacer Advisors Inc. raised its holdings 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 worth $104,218,000 after acquiring an additional 575,879 shares during the last quarter. 92.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Robert Half from $70.00 to $69.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Truist Financial upgraded shares of Robert Half from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $90.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.67.

Robert Half Trading Up 0.8 %

Shares of RHI opened at $76.10 on Friday. The firm has a market cap of $7.86 billion, a PE ratio of 27.77 and a beta of 1.24. The firm has a fifty day simple moving average of $71.62 and a two-hundred day simple moving average of $66.41. 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 quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, research analysts forecast that Robert Half Inc. will post 2.45 EPS for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Monday, November 25th. Robert Half’s payout ratio is 77.37%.

Insider Activity

In related news, Director Dirk A. Kempthorne sold 1,032 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total value of $76,729.20. Following the completion of the transaction, the director now owns 12,310 shares of the company’s stock, valued at approximately $915,248.50. This represents a 7.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.00% of the company’s stock.

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.