Allianz Asset Management GmbH Boosts Position in Robert Half Inc. $RHI

Allianz Asset Management GmbH grew its holdings in shares of Robert Half Inc. (NYSE:RHI) by 53.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 361,906 shares of the business services provider’s stock after buying an additional 125,591 shares during the period. Allianz Asset Management GmbH owned 0.35% of Robert Half worth $14,856,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RHI. GAMMA Investing LLC increased its stake in shares of Robert Half by 92.9% during the first quarter. GAMMA Investing LLC now owns 2,091 shares of the business services provider’s stock valued at $114,000 after buying an additional 1,007 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Robert Half by 4.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 76,378 shares of the business services provider’s stock valued at $4,166,000 after buying an additional 3,248 shares during the period. Silver Lake Advisory LLC increased its stake in shares of Robert Half by 1.2% during the first quarter. Silver Lake Advisory LLC now owns 55,088 shares of the business services provider’s stock valued at $3,005,000 after buying an additional 655 shares during the period. Lecap Asset Management Ltd. purchased a new position in shares of Robert Half during the first quarter valued at approximately $1,651,000. Finally, Spire Wealth Management boosted its position in shares of Robert Half by 1,629.9% during the first quarter. Spire Wealth Management now owns 51,740 shares of the business services provider’s stock valued at $2,822,000 after purchasing an additional 48,749 shares in the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Robert Half Price Performance

RHI opened at $30.78 on Tuesday. The stock has a 50-day moving average price of $35.02 and a 200-day moving average price of $40.47. The firm has a market cap of $3.13 billion, a PE ratio of 17.59 and a beta of 1.02. Robert Half Inc. has a 1 year low of $30.74 and a 1 year high of $78.41.

Robert Half (NYSE:RHI) last posted its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.35 billion. Robert Half had a return on equity of 13.00% and a net margin of 3.20%.Robert Half’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, sell-side analysts anticipate that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, August 25th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend was Monday, August 25th. Robert Half’s payout ratio is currently 134.86%.

Analyst Ratings Changes

Several research firms recently weighed in on RHI. JPMorgan Chase & Co. dropped their price target on Robert Half from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, July 24th. Weiss Ratings restated a “sell (d+)” rating on shares of Robert Half in a research report on Tuesday, October 14th. Truist Financial dropped their price target on Robert Half from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Wall Street Zen upgraded Robert Half from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, Zacks Research lowered Robert Half from a “hold” rating to a “strong sell” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $45.00.

Robert Half Company Profile

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.