Man Group plc Buys New Stake in Robert Half Inc. $RHI

Man Group plc bought a new position in Robert Half Inc. (NYSE:RHI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 21,877 shares of the business services provider’s stock, valued at approximately $672,000.

Other hedge funds also recently bought and sold shares of the company. Basecamp Wealth Advisors LLC grew its position in shares of Robert Half by 19.4% in the first quarter. Basecamp Wealth Advisors LLC now owns 2,164 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 351 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Robert Half by 3.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 12,069 shares of the business services provider’s stock valued at $410,000 after purchasing an additional 407 shares during the period. IFP Advisors Inc boosted its stake in Robert Half by 9.0% during the 4th quarter. IFP Advisors Inc now owns 6,845 shares of the business services provider’s stock valued at $186,000 after purchasing an additional 564 shares during the period. Fifth Third Bancorp grew its holdings in Robert Half by 94.3% in the 4th quarter. Fifth Third Bancorp now owns 1,368 shares of the business services provider’s stock valued at $37,000 after buying an additional 664 shares during the last quarter. Finally, Inspire Advisors LLC increased its position in Robert Half by 5.0% in the 4th quarter. Inspire Advisors LLC now owns 14,059 shares of the business services provider’s stock worth $382,000 after buying an additional 669 shares during the period. 92.41% of the stock is currently owned by institutional investors.

Robert Half Stock Up 0.3%

Shares of RHI stock opened at $43.02 on Friday. The stock has a 50-day moving average price of $39.59 and a 200 day moving average price of $31.17. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 37.41 and a beta of 0.81. Robert Half Inc. has a 12 month low of $21.83 and a 12 month high of $46.70.

Robert Half (NYSE:RHI) last released its earnings results on Thursday, July 23rd. The business services provider reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company posted $0.41 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts predict that Robert Half Inc. will post 1.27 earnings per share for the current fiscal year.

Robert Half Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, August 25th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.5%. Robert Half’s payout ratio is 205.22%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RHI shares. Robert W. Baird set a $47.00 price target on Robert Half in a report on Monday, July 27th. Zacks Research raised shares of Robert Half from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. BMO Capital Markets upgraded Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 target price for the company in a research note on Monday, July 27th. The Goldman Sachs Group increased their price target on shares of Robert Half from $26.00 to $29.00 and gave the company a “sell” rating in a research note on Friday, July 24th. Finally, Truist Financial raised their price target on shares of Robert Half from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $34.75.

About Robert Half

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half’s shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.