Sei Investments Co. increased its stake in Robert Half International Inc. (NYSE:RHI) by 50.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,718 shares of the business services provider’s stock after buying an additional 10,271 shares during the period. Sei Investments Co.’s holdings in Robert Half International were worth $2,000,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Fiduciary Management Inc. WI raised its stake in Robert Half International by 1.5% in the first quarter. Fiduciary Management Inc. WI now owns 2,109,423 shares of the business services provider’s stock worth $122,114,000 after buying an additional 32,165 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in Robert Half International by 361.4% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 1,375,033 shares of the business services provider’s stock worth $79,600,000 after buying an additional 1,077,023 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Robert Half International by 43.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,235,077 shares of the business services provider’s stock worth $71,499,000 after buying an additional 373,780 shares in the last quarter. Acadian Asset Management LLC raised its stake in Robert Half International by 28.2% in the second quarter. Acadian Asset Management LLC now owns 795,794 shares of the business services provider’s stock worth $51,806,000 after buying an additional 174,845 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Robert Half International by 18.4% in the first quarter. Royal Bank of Canada now owns 571,317 shares of the business services provider’s stock worth $33,074,000 after buying an additional 88,762 shares in the last quarter. 88.34% of the stock is owned by institutional investors.
In other news, EVP Robert W. Glass sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $77.50, for a total transaction of $3,100,000.00. Following the sale, the executive vice president now owns 271,364 shares in the company, valued at $21,030,710. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.00% of the company’s stock.
Shares of NYSE RHI opened at $74.08 on Thursday. Robert Half International Inc. has a fifty-two week low of $44.38 and a fifty-two week high of $79.91. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 25.89 and a beta of 1.18.
Robert Half International (NYSE:RHI) last announced its earnings results on Tuesday, July 24th. The business services provider reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.04. Robert Half International had a net margin of 6.11% and a return on equity of 33.44%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. equities research analysts expect that Robert Half International Inc. will post 3.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 24th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Thursday, August 23rd. Robert Half International’s payout ratio is 43.08%.
RHI has been the subject of a number of research reports. Goldman Sachs Group downgraded shares of Robert Half International from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $70.00 to $67.00 in a research note on Wednesday. Barclays raised their target price on shares of Robert Half International from $66.00 to $72.00 and gave the company a “$68.51” rating in a research note on Wednesday, July 18th. Robert W. Baird raised their target price on shares of Robert Half International from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, July 25th. BMO Capital Markets raised their target price on shares of Robert Half International from $68.00 to $75.00 and gave the company a “market perform” rating in a research note on Wednesday, July 25th. Finally, Credit Suisse Group began coverage on shares of Robert Half International in a research note on Friday, August 10th. They set an “underperform” rating and a $57.00 target price for the company. Three analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $65.00.
Robert Half International Company Profile
Robert Half International Inc provides staffing and risk consulting services in North America, South America, Europe, Asia, and Australia. The company operates through three segments: Temporary and Consultant Staffing, Permanent Placement Staffing, and Risk Consulting and Internal Audit Services. It places temporary personnel for accounting, finance, and bookkeeping; temporary and full-time office and administrative personnel consisting of executive and administrative assistants, receptionists, and customer service representatives; full-time accounting, financial, tax, and accounting operations personnel; and information technology contract consultants and full-time employees in the areas of platform systems integration to end-user technical and desktop support, including specialists in application development, networking, systems integration and deployment, database design and administration, and security and business continuity.
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