Kentucky Retirement Systems Insurance Trust Fund Takes $309,000 Position in Robert Half Inc. (NYSE:RHI)

Posted by Defense World Staff on Aug 21st, 2023

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Robert Half Inc. (NYSE:RHI – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,832 shares of the business services provider’s stock, valued at approximately $309,000.

Other institutional investors have also modified their holdings of the company. Resurgent Financial Advisors LLC purchased a new stake in Robert Half in the fourth quarter valued at approximately $27,000. Salem Investment Counselors Inc. purchased a new stake in Robert Half in the second quarter valued at approximately $28,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Robert Half in the fourth quarter valued at approximately $28,000. Ameritas Advisory Services LLC purchased a new stake in Robert Half in the first quarter valued at approximately $35,000. Finally, Parallel Advisors LLC grew its holdings in Robert Half by 115.0% in the first quarter. Parallel Advisors LLC now owns 574 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 307 shares during the period. Institutional investors and hedge funds own 89.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RHI. Credit Suisse Group lowered their target price on shares of Robert Half from $63.00 to $57.00 in a report on Wednesday, July 26th. Bank of America lowered their target price on shares of Robert Half from $63.00 to $53.00 in a report on Thursday, July 27th. Redburn Partners started coverage on shares of Robert Half in a research note on Tuesday, June 20th. They set a “neutral” rating and a $76.00 price objective for the company. William Blair reiterated a “market perform” rating on shares of Robert Half in a research note on Wednesday, July 26th. Finally, BMO Capital Markets decreased their price objective on shares of Robert Half from $84.00 to $76.00 in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Robert Half has a consensus rating of “Hold” and an average price target of $71.22.

Get Our Latest Report on RHI

Robert Half Trading Up 0.9 %

Shares of RHI stock opened at $74.65 on Monday. The company has a market capitalization of $7.99 billion, a PE ratio of 14.81 and a beta of 1.32. The firm has a fifty day simple moving average of $76.03 and a 200-day simple moving average of $75.43. Robert Half Inc. has a twelve month low of $64.65 and a twelve month high of $89.78.

Robert Half (NYSE:RHI – Get Free Report) last announced its earnings results on Tuesday, July 25th. The business services provider reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.13). The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Robert Half had a net margin of 7.84% and a return on equity of 34.51%. Robert Half’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.60 earnings per share. Equities research analysts predict that Robert Half Inc. will post 3.72 EPS for the current year.

Robert Half Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be paid a $0.48 dividend. The ex-dividend date is Thursday, August 24th. This represents a $1.92 annualized dividend and a dividend yield of 2.57%. Robert Half’s dividend payout ratio (DPR) is presently 38.10%.

Insider Activity

In related news, Director Dirk A. Kempthorne sold 2,050 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $74.15, for a total value of $152,007.50. Following the sale, the director now directly owns 12,934 shares of the company’s stock, valued at $959,056.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.

About Robert Half

(Free Report)

Robert Half Inc provides talent solutions and business consulting services in North America, South America, Europe, Asia, and Australia. The company operates through three segments: Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti. 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.