Point72 Asia Singapore Pte. Ltd. Boosts Stock Position in Robert Half Inc. (NYSE:RHI)

Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Robert Half Inc. (NYSE:RHI) by 34.1% during the third quarter, Holdings Channel reports. The institutional investor owned 27,183 shares of the business services provider’s stock after buying an additional 6,918 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Robert Half were worth $1,832,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in RHI. Mawer Investment Management Ltd. lifted its holdings in Robert Half by 28.9% in the 3rd 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 in the last quarter. Cetera Investment Advisers lifted its holdings in Robert Half by 69.6% in the 1st quarter. Cetera Investment Advisers now owns 64,729 shares of the business services provider’s stock worth $5,132,000 after purchasing an additional 26,561 shares in the last quarter. Achmea Investment Management B.V. lifted its holdings in Robert Half by 9.2% in the 2nd quarter. Achmea Investment Management B.V. now owns 152,251 shares of the business services provider’s stock worth $9,741,000 after purchasing an additional 12,772 shares in the last quarter. FORA Capital LLC purchased a new position in Robert Half in the 3rd quarter worth approximately $1,792,000. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Robert Half by 182.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 25,100 shares of the business services provider’s stock worth $1,606,000 after purchasing an additional 16,212 shares in the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered their price target on Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Robert Half presently has a consensus rating of “Hold” and a consensus target price of $69.00.

Robert Half Price Performance

Shares of RHI opened at $74.61 on Monday. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 27.23 and a beta of 1.23. Robert Half Inc. has a 1 year low of $57.05 and a 1 year high of $88.39. The business’s 50 day simple moving average is $70.10 and its 200-day simple moving average is $65.94.

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

Robert Half Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Monday, November 25th. Robert Half’s dividend payout ratio is currently 77.37%.

Insider Activity

In other Robert Half 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 value 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

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.