Thrivent Financial for Lutherans Acquires 1,240,492 Shares of Robert Half Inc. (NYSE:RHI)

Thrivent Financial for Lutherans lifted its stake in Robert Half Inc. (NYSE:RHI) by 27,895.0% during the 2nd quarter, Holdings Channel reports. The firm owned 1,244,939 shares of the business services provider’s stock after acquiring an additional 1,240,492 shares during the period. Thrivent Financial for Lutherans’ holdings in Robert Half were worth $79,652,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RHI. Mawer Investment Management Ltd. lifted its stake in Robert Half by 105.4% in the first quarter. Mawer Investment Management Ltd. now owns 3,655,626 shares of the business services provider’s stock valued at $289,818,000 after buying an additional 1,875,476 shares during the period. Capital World Investors raised its position in shares of Robert Half by 6.7% in the 4th quarter. Capital World Investors now owns 14,574,944 shares of the business services provider’s stock valued at $1,281,429,000 after acquiring an additional 917,311 shares during the period. Norges Bank bought a new position in Robert Half during the 4th quarter worth approximately $73,311,000. Jacobs Levy Equity Management Inc. grew its holdings in Robert Half by 900.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 834,447 shares of the business services provider’s stock valued at $66,155,000 after purchasing an additional 751,049 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Robert Half by 54.7% in the second quarter. Pacer Advisors Inc. now owns 1,628,919 shares of the business services provider’s stock valued at $104,218,000 after purchasing an additional 575,879 shares in the last quarter. 92.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Robert Half

In other news, Director Dirk A. Kempthorne sold 1,300 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $63.09, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

RHI has been the subject of several research analyst reports. StockNews.com lowered shares of Robert Half from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Truist Financial decreased their target price 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. Barclays dropped their price target on Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a research report on Friday, July 26th. BMO Capital Markets decreased their price objective on Robert Half from $72.00 to $64.00 and set a “market perform” rating for the company in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lowered their target price on Robert Half from $74.00 to $70.00 and set a “neutral” 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $67.86.

Robert Half Price Performance

Shares of Robert Half stock opened at $66.80 on Friday. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 5.98 and a beta of 1.23. The stock’s 50-day moving average is $62.89 and its 200-day moving average is $67.54. Robert Half Inc. has a one year low of $57.05 and a one year high of $88.39.

Robert Half (NYSE:RHI) last released its earnings results on Wednesday, July 24th. The business services provider reported $0.66 EPS 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 the consensus estimate of $1.49 billion. Robert Half had a net margin of 5.26% and a return on equity of 20.41%. The company’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 EPS. On average, equities analysts expect that Robert Half Inc. will post 2.52 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 $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Friday, August 23rd. Robert Half’s dividend payout ratio (DPR) is currently 63.47%.

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.