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

CIBC Asset Management Inc grew its holdings in shares of Robert Half Inc. (NYSE:RHI) by 4.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,220 shares of the business services provider’s stock after acquiring 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 quarter.

A number of other large investors have also recently bought and sold shares of RHI. Mawer Investment Management Ltd. grew its stake in shares of Robert Half by 28.9% in the 3rd quarter. Mawer Investment Management Ltd. now owns 4,681,340 shares of the business services provider’s stock valued at $315,569,000 after buying an additional 1,049,005 shares during the period. FORA Capital LLC acquired a new stake in shares of Robert Half in the 3rd quarter valued at about $1,792,000. Van ECK Associates Corp grew its stake in shares of Robert Half by 24.1% in the 4th quarter. Van ECK Associates Corp now owns 85,878 shares of the business services provider’s stock valued at $6,051,000 after buying an additional 16,668 shares during the period. SG Americas Securities LLC grew its stake in shares of Robert Half by 347.9% in the 4th quarter. SG Americas Securities LLC now owns 16,586 shares of the business services provider’s stock valued at $1,169,000 after buying an additional 12,883 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Robert Half by 20.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 270,467 shares of the business services provider’s stock valued at $18,232,000 after buying an additional 46,100 shares during the period. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Robert Half Stock Performance

RHI stock opened at $60.00 on Friday. The business has a 50-day simple moving average of $67.04 and a two-hundred day simple moving average of $67.55. Robert Half Inc. has a 52-week low of $57.05 and a 52-week high of $83.25. The company has a market capitalization of $6.13 billion, a P/E ratio of 24.59 and a beta of 1.23.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $0.53 earnings per share (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, sell-side analysts forecast that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, February 25th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.93%. This is a boost from Robert Half’s previous quarterly dividend of $0.53. The ex-dividend date is Tuesday, February 25th. Robert Half’s dividend payout ratio is presently 86.89%.

Wall Street Analyst Weigh In

Several analysts have recently commented on RHI shares. Barclays upgraded 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 research note on Friday, January 3rd. JPMorgan Chase & Co. cut their price target on Robert Half from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Truist Financial upgraded Robert Half from a “hold” rating to a “buy” rating and lifted their price target for the company from $62.00 to $90.00 in a research note on Friday, December 13th. Finally, BNP Paribas upgraded Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 price target for the company in a research note on Monday, February 10th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.92.

Insider Buying and Selling

In other news, Director Dirk A. Kempthorne sold 1,032 shares of the company’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 transaction, the director now directly owns 12,310 shares of the company’s stock, valued at $915,248.50. This represents a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.00% of the stock is owned by insiders.

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.