Allworth Financial LP Buys 342 Shares of Robert Half Inc. (NYSE:RHI)

Allworth Financial LP boosted its position in Robert Half Inc. (NYSE:RHI) by 73.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 808 shares of the business services provider’s stock after purchasing an additional 342 shares during the quarter. Allworth Financial LP’s holdings in Robert Half were worth $57,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC boosted its position in shares of Robert Half by 70.6% in the 4th quarter. V Square Quantitative Management LLC now owns 679 shares of the business services provider’s stock worth $48,000 after purchasing an additional 281 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Robert Half by 24.1% in the fourth quarter. Van ECK Associates Corp now owns 85,878 shares of the business services provider’s stock worth $6,051,000 after acquiring an additional 16,668 shares in the last quarter. WCM Investment Management LLC grew its stake in shares of Robert Half by 239.5% during the fourth quarter. WCM Investment Management LLC now owns 63,614 shares of the business services provider’s stock worth $4,475,000 after acquiring an additional 44,879 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of Robert Half during the fourth quarter valued at about $2,241,000. Finally, Vest Financial LLC increased its holdings in shares of Robert Half by 52.1% during the fourth quarter. Vest Financial LLC now owns 34,402 shares of the business services provider’s stock valued at $2,424,000 after acquiring an additional 11,786 shares in the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RHI. Barclays upgraded shares of Robert Half from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $60.00 to $80.00 in a research note on Friday, January 3rd. JPMorgan Chase & Co. reduced their target price on Robert Half from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. BNP Paribas raised Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 price target for the company in a research report on Monday, February 10th. Finally, Truist Financial raised Robert Half from a “hold” rating to a “buy” rating and increased their price objective for the company from $62.00 to $90.00 in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $74.92.

Robert Half Stock Performance

NYSE:RHI opened at $59.70 on Wednesday. The firm’s fifty day moving average is $66.45 and its two-hundred day moving average is $67.59. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 24.47 and a beta of 1.23. Robert Half Inc. has a one year low of $57.05 and a one year high of $83.25.

Robert Half (NYSE:RHI) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). Robert Half had a net margin of 4.34% and a return on equity of 17.20%. As a group, equities research analysts predict that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, February 25th will be paid a $0.59 dividend. This is a boost from Robert Half’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Tuesday, February 25th. Robert Half’s payout ratio is currently 96.72%.

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.