JPMorgan Chase & Co. Has $18.23 Million Stock Position in Robert Half Inc. (NYSE:RHI)

JPMorgan Chase & Co. increased its position in shares of Robert Half Inc. (NYSE:RHI) by 20.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 270,467 shares of the business services provider’s stock after buying an additional 46,100 shares during the period. JPMorgan Chase & Co. owned 0.26% of Robert Half worth $18,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mawer Investment Management Ltd. increased its stake in shares of Robert Half by 28.9% in the third quarter. Mawer Investment Management Ltd. now owns 4,681,340 shares of the business services provider’s stock worth $315,569,000 after purchasing an additional 1,049,005 shares during the period. Charles Schwab Investment Management Inc. increased its position in Robert Half by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,285,008 shares of the business services provider’s stock worth $221,442,000 after buying an additional 159,750 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Robert Half by 54.7% during the second quarter. Pacer Advisors Inc. now owns 1,628,919 shares of the business services provider’s stock worth $104,218,000 after buying an additional 575,879 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Robert Half by 101.0% during the second quarter. AQR Capital Management LLC now owns 1,564,247 shares of the business services provider’s stock worth $99,439,000 after buying an additional 786,031 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Robert Half by 17.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,542,502 shares of the business services provider’s stock worth $98,687,000 after acquiring an additional 231,129 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Dirk A. Kempthorne sold 1,032 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $74.35, for a total transaction of $76,729.20. Following the transaction, the director now owns 12,310 shares of the company’s stock, valued at $915,248.50. This represents a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.00% of the stock is currently owned by corporate insiders.

Robert Half Price Performance

Shares of RHI stock opened at $67.38 on Friday. The stock’s fifty day simple moving average is $72.82 and its 200 day simple moving average is $67.29. Robert Half Inc. has a one year low of $57.05 and a one year high of $83.25. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 24.59 and a beta of 1.24.

Robert Half (NYSE:RHI) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS. On average, research analysts anticipate that Robert Half Inc. will post 2.45 earnings per share for the current year.

Robert Half Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Monday, November 25th. Robert Half’s payout ratio is presently 77.37%.

Analyst Ratings Changes

Several research firms have recently issued reports on RHI. BNP Paribas downgraded shares of Robert Half from an “outperform” rating to an “underperform” rating and set a $64.00 price objective on the stock. in a report on Monday, December 16th. Barclays upgraded Robert Half from an “underweight” rating to an “equal weight” rating and boosted 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 price objective on Robert Half from $70.00 to $69.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Truist Financial upgraded Robert Half from a “hold” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $90.00 in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.33.

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.