Optimal Asset Management Inc. Invests $641,000 in Robert Half International Inc. (NYSE:RHI)

Optimal Asset Management Inc. bought a new position in Robert Half International Inc. (NYSE:RHI) during the first quarter, HoldingsChannel.com reports. The fund bought 8,214 shares of the business services provider’s stock, valued at approximately $641,000.

Several other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. increased its holdings in shares of Robert Half International by 48.4% in the 1st quarter. Alliancebernstein L.P. now owns 6,204,682 shares of the business services provider’s stock worth $484,400,000 after buying an additional 2,023,884 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Robert Half International by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 2,520,130 shares of the business services provider’s stock worth $196,746,000 after buying an additional 69,809 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Robert Half International by 7,899.4% in the 1st quarter. CIBC Private Wealth Group LLC now owns 2,105,845 shares of the business services provider’s stock worth $164,403,000 after buying an additional 2,079,520 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in Robert Half International by 44.2% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,774,500 shares of the business services provider’s stock valued at $110,862,000 after purchasing an additional 544,332 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in Robert Half International by 22.5% during the 4th quarter. Schroder Investment Management Group now owns 1,564,639 shares of the business services provider’s stock valued at $97,759,000 after purchasing an additional 286,900 shares during the last quarter. Hedge funds and other institutional investors own 87.80% of the company’s stock.

NYSE:RHI opened at $87.50 on Thursday. Robert Half International Inc. has a 52 week low of $48.29 and a 52 week high of $92.32. The company’s 50 day moving average price is $88.60. The stock has a market capitalization of $9.87 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 1.34 and a beta of 1.57.

Robert Half International (NYSE:RHI) last posted its earnings results on Tuesday, April 20th. The business services provider reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.18. Robert Half International had a net margin of 6.54% and a return on equity of 27.51%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. Robert Half International’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, analysts expect that Robert Half International Inc. will post 4.16 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 15th. Shareholders of record on Tuesday, May 25th were paid a dividend of $0.38 per share. The ex-dividend date was Monday, May 24th. This represents a $1.52 dividend on an annualized basis and a yield of 1.74%. Robert Half International’s payout ratio is 56.30%.

Several brokerages recently commented on RHI. Credit Suisse Group upped their price target on shares of Robert Half International from $60.00 to $70.00 and gave the company an “underperform” rating in a report on Thursday, April 22nd. Zacks Investment Research cut shares of Robert Half International from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research report on Tuesday, June 22nd. Robert W. Baird boosted their price objective on shares of Robert Half International from $104.00 to $111.00 and gave the company an “outperform” rating in a research report on Thursday, April 22nd. Truist Securities boosted their price objective on shares of Robert Half International from $67.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, April 22nd. Finally, Truist upped their price target on shares of Robert Half International to $85.00 in a research report on Thursday, April 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $81.11.

About Robert Half International

Robert Half International Inc provides staffing and risk consulting services in North America, South America, Europe, Asia, and Australia. The company operates through three segments: Temporary and Consultant Staffing, Permanent Placement Staffing, and Risk Consulting and Internal Audit Services. It places temporary services for accounting, finance, and bookkeeping; temporary and full-time office and administrative personnel consisting of executive and administrative assistants, receptionists, and customer service representatives; full-time accounting, financial, tax, and accounting operations personnel; and information technology contract consultants and full-time employees in the areas of platform systems integration to end-user technical and desktop support, including specialists in application development, networking, systems integration and deployment, database design and administration, and security and business continuity.

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Institutional Ownership by Quarter for Robert Half International (NYSE:RHI)

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