Truist Financial Corp Buys 3,858 Shares of Robert Half Inc. (NYSE:RHI)

Truist Financial Corp increased its stake in shares of Robert Half Inc. (NYSE:RHI) by 11.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 38,728 shares of the business services provider’s stock after buying an additional 3,858 shares during the period. Truist Financial Corp’s holdings in Robert Half were worth $2,729,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Mawer Investment Management Ltd. boosted its stake in Robert Half by 28.9% during 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 acquiring an additional 1,049,005 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Robert Half during the third quarter worth $41,096,000. Janus Henderson Group PLC raised its holdings in Robert Half by 828.9% during the third quarter. Janus Henderson Group PLC now owns 463,570 shares of the business services provider’s stock worth $31,249,000 after buying an additional 413,664 shares during the last quarter. Pzena Investment Management LLC raised its holdings in Robert Half by 41.9% during the third quarter. Pzena Investment Management LLC now owns 1,027,683 shares of the business services provider’s stock worth $69,276,000 after buying an additional 303,421 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Robert Half by 20.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,343,030 shares of the business services provider’s stock worth $90,534,000 after buying an additional 225,210 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Robert Half Trading Down 1.3 %

Shares of NYSE:RHI opened at $59.70 on Wednesday. Robert Half Inc. has a 12-month low of $57.05 and a 12-month high of $83.25. The company has a market capitalization of $6.10 billion, a PE ratio of 24.47 and a beta of 1.23. The business has a 50 day moving average of $66.45 and a two-hundred day moving average of $67.59.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $0.53 EPS 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%. 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 issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.95%. This is a boost from Robert Half’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Tuesday, February 25th. Robert Half’s dividend payout ratio (DPR) is 96.72%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RHI shares. BNP Paribas upgraded shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 target price for the company in a report on Monday, February 10th. Barclays upgraded shares of Robert Half from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $60.00 to $80.00 in a report on Friday, January 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Robert Half from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, Truist Financial upgraded shares of Robert Half from a “hold” rating to a “buy” rating and increased their target price for the stock from $62.00 to $90.00 in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $74.92.

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.