Confluence Wealth Services Inc. Buys 3,677 Shares of Robert Half Inc. (NYSE:RHI)

Confluence Wealth Services Inc. increased its stake in Robert Half Inc. (NYSE:RHI) by 144.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,219 shares of the business services provider’s stock after buying an additional 3,677 shares during the period. Confluence Wealth Services Inc.’s holdings in Robert Half were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. bought a new stake in shares of Robert Half during the third quarter valued at approximately $106,840,000. Capital World Investors lifted its holdings in shares of Robert Half by 6.7% during the fourth quarter. Capital World Investors now owns 14,574,944 shares of the business services provider’s stock valued at $1,281,429,000 after purchasing an additional 917,311 shares in the last quarter. Boston Partners boosted its position in shares of Robert Half by 61.5% during the third quarter. Boston Partners now owns 2,395,745 shares of the business services provider’s stock valued at $175,400,000 after buying an additional 911,969 shares during the last quarter. Norges Bank bought a new stake in Robert Half in the 4th quarter worth about $73,311,000. Finally, Pzena Investment Management LLC purchased a new position in Robert Half in the 4th quarter worth about $26,419,000. Institutional investors own 92.41% of the company’s stock.

Robert Half Stock Performance

Shares of RHI traded down $0.88 during midday trading on Tuesday, hitting $69.14. 2,075,838 shares of the company traded hands, compared to its average volume of 1,098,147. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 17.51 and a beta of 1.26. The firm has a 50 day moving average of $76.56 and a 200-day moving average of $79.33. Robert Half Inc. has a 52 week low of $64.65 and a 52 week high of $88.39.

Robert Half (NYSE:RHI) last posted its earnings results on Thursday, April 25th. The business services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Robert Half had a return on equity of 22.36% and a net margin of 5.74%. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 EPS. Sell-side analysts predict that Robert Half Inc. will post 3.3 earnings per share for the current fiscal year.

Robert Half Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.53 per share. This is a boost from Robert Half’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Thursday, February 22nd. Robert Half’s payout ratio is presently 63.47%.

Insider Buying and Selling at Robert Half

In related news, EVP Robert W. Glass sold 7,500 shares of Robert Half stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $80.46, for a total transaction of $603,450.00. Following the completion of the transaction, the executive vice president now directly owns 186,062 shares of the company’s stock, valued at approximately $14,970,548.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RHI shares. Robert W. Baird dropped their price target on shares of Robert Half from $84.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday. Truist Financial raised Robert Half from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a report on Monday, April 22nd. Finally, BMO Capital Markets cut their price objective on Robert Half from $85.00 to $80.00 and set a “market perform” rating for the company in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $68.14.

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.