Hsbc Holdings PLC Lowers Holdings in Robert Half Inc. (NYSE:RHI)

Hsbc Holdings PLC reduced its position in shares of Robert Half Inc. (NYSE:RHI) by 61.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,533 shares of the business services provider’s stock after selling 481,995 shares during the period. Hsbc Holdings PLC owned approximately 0.29% of Robert Half worth $19,439,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Qsemble Capital Management LP bought a new stake in Robert Half during the first quarter valued at approximately $1,454,000. UniSuper Management Pty Ltd grew its position in Robert Half by 671.3% in the first quarter. UniSuper Management Pty Ltd now owns 12,341 shares of the business services provider’s stock worth $978,000 after acquiring an additional 10,741 shares in the last quarter. Franklin Resources Inc. increased its stake in Robert Half by 35.1% in the fourth quarter. Franklin Resources Inc. now owns 253,968 shares of the business services provider’s stock valued at $22,329,000 after acquiring an additional 66,049 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Robert Half by 10.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 122,356 shares of the business services provider’s stock valued at $9,700,000 after purchasing an additional 11,124 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its stake in Robert Half by 167.3% during the first quarter. iA Global Asset Management Inc. now owns 21,414 shares of the business services provider’s stock worth $1,698,000 after purchasing an additional 13,404 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Robert Half Stock Up 1.2 %

NYSE:RHI opened at $66.80 on Monday. The firm’s fifty day simple moving average is $62.89 and its 200 day simple moving average is $67.45. The stock has a market cap of $7.01 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 5.98 and a beta of 1.23. Robert Half Inc. has a twelve month low of $57.05 and a twelve month 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 analysts’ consensus estimates of $0.71 by ($0.05). The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS. On average, analysts expect that Robert Half Inc. will post 2.52 EPS for the current fiscal year.

Robert Half Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Friday, August 23rd. Robert Half’s payout ratio is currently 63.47%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Truist Financial decreased their price objective on Robert Half from $72.00 to $62.00 and set a “hold” rating on the stock in a report 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 for the company in a report on Tuesday, June 11th. Barclays reduced their target price on shares of Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a report on Friday, July 26th. StockNews.com downgraded shares of Robert Half from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. Finally, JPMorgan Chase & Co. reduced their price objective on Robert Half from $74.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.86.

Robert Half 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.