CIBC Asset Management Inc Has $720,000 Position in Robert Half Inc. (NYSE:RHI)

CIBC Asset Management Inc increased its stake in shares of Robert Half Inc. (NYSE:RHI) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,220 shares of the business services provider’s stock after buying an additional 449 shares during the quarter. CIBC Asset Management Inc’s holdings in Robert Half were worth $720,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mawer Investment Management Ltd. grew its position 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 buying an additional 1,049,005 shares in the last quarter. FORA Capital LLC acquired a new stake in Robert Half during the third quarter worth approximately $1,792,000. Van ECK Associates Corp grew its position in Robert Half by 24.1% during the fourth quarter. Van ECK Associates Corp now owns 85,878 shares of the business services provider’s stock worth $6,051,000 after buying an additional 16,668 shares in the last quarter. SG Americas Securities LLC grew its position in Robert Half by 347.9% during the fourth quarter. SG Americas Securities LLC now owns 16,586 shares of the business services provider’s stock worth $1,169,000 after buying an additional 12,883 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Robert Half by 20.5% during the third quarter. JPMorgan Chase & Co. now owns 270,467 shares of the business services provider’s stock worth $18,232,000 after buying an additional 46,100 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Robert Half Stock Performance

Shares of RHI 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 stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 24.59 and a beta of 1.23. The stock has a fifty day moving average of $67.04 and a 200-day moving average of $67.55.

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

Robert Half Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.93%. 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 is presently 86.89%.

Insider Activity

In related news, Director Dirk A. Kempthorne sold 1,032 shares of the firm’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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is owned by corporate insiders.

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.