Alberta Investment Management Corp Invests $1.13 Million in Robert Half Inc. (NYSE:RHI)

Alberta Investment Management Corp bought a new stake in Robert Half Inc. (NYSE:RHI) during the 4th quarter, HoldingsChannel.com reports. The fund bought 16,080 shares of the business services provider’s stock, valued at approximately $1,133,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. grew its stake in Robert Half by 28.9% during the 3rd quarter. Mawer Investment Management Ltd. now owns 4,681,340 shares of the business services provider’s stock valued at $315,569,000 after purchasing an additional 1,049,005 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Robert Half by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,285,008 shares of the business services provider’s stock valued at $221,442,000 after buying an additional 159,750 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Robert Half by 20.1% in the 3rd 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 period. Pzena Investment Management LLC raised its position in Robert Half by 41.9% during the 3rd 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, Victory Capital Management Inc. raised its position in Robert Half by 32.7% during the 3rd quarter. Victory Capital Management Inc. now owns 613,752 shares of the business services provider’s stock worth $41,373,000 after buying an additional 151,261 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Insider Buying and Selling

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

Robert Half Stock Down 0.1 %

RHI stock opened at $60.00 on Friday. Robert Half Inc. has a 52-week low of $57.05 and a 52-week high of $83.25. The firm has a market cap of $6.13 billion, a P/E ratio of 24.59 and a beta of 1.23. The company’s 50-day simple moving average is $67.04 and its 200-day simple moving average is $67.50.

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

Robert Half Increases Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, February 25th. This represents a $2.36 dividend on an annualized basis and a yield of 3.93%. This is a boost from Robert Half’s previous quarterly dividend of $0.53. Robert Half’s dividend payout ratio (DPR) is currently 86.89%.

Analyst Upgrades and Downgrades

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