Kentucky Retirement Systems Insurance Trust Fund Makes New $346,000 Investment in Robert Half Inc. (NYSE:RHI)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Robert Half Inc. (NYSE:RHI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,908 shares of the business services provider’s stock, valued at approximately $346,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cardinal Capital Management lifted its holdings in shares of Robert Half by 1.1% during the fourth quarter. Cardinal Capital Management now owns 36,509 shares of the business services provider’s stock worth $2,572,000 after buying an additional 408 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Robert Half by 108.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,659 shares of the business services provider’s stock worth $117,000 after buying an additional 863 shares in the last quarter. Truist Financial Corp raised its stake in Robert Half by 11.1% in the fourth quarter. Truist Financial Corp now owns 38,728 shares of the business services provider’s stock valued at $2,729,000 after purchasing an additional 3,858 shares in the last quarter. CIBC Asset Management Inc raised its stake in Robert Half by 4.6% in the fourth quarter. CIBC Asset Management Inc now owns 10,220 shares of the business services provider’s stock valued at $720,000 after purchasing an additional 449 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Robert Half by 2.1% in the fourth quarter. Principal Financial Group Inc. now owns 491,773 shares of the business services provider’s stock valued at $34,650,000 after purchasing an additional 10,122 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on RHI. Truist Financial raised Robert Half from a “hold” rating to a “buy” rating and boosted their price target for the company from $62.00 to $90.00 in a research note on Friday, December 13th. Barclays raised Robert Half from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $60.00 to $80.00 in a research note on Friday, January 3rd. BNP Paribas raised 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. Finally, JPMorgan Chase & Co. dropped 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $74.92.

Robert Half Trading Up 1.1 %

Shares of NYSE RHI opened at $60.44 on Thursday. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 24.77 and a beta of 1.23. Robert Half Inc. has a 12 month low of $57.05 and a 12 month high of $83.25. The stock has a 50-day moving average price of $67.67 and a two-hundred day moving average price of $67.57.

Robert Half (NYSE:RHI) last issued its earnings results on Wednesday, January 29th. The business services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.01). Robert Half had a return on equity of 17.20% and a net margin of 4.34%. On average, sell-side analysts predict that Robert Half Inc. will post 2.53 earnings per share for the current year.

Robert Half Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th will be issued a dividend of $0.59 per share. This is a boost from Robert Half’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Tuesday, February 25th. Robert Half’s payout ratio is 96.72%.

Insider Transactions at Robert Half

In other news, Director Dirk A. Kempthorne sold 1,032 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $74.35, for a total transaction of $76,729.20. Following the sale, the director now directly owns 12,310 shares in the company, valued at approximately $915,248.50. The trade was a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.00% of the company’s stock.

About Robert Half

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.