Robert Half Inc. Announces Quarterly Dividend of $0.48 (NYSE:RHI)

Robert Half Inc. (NYSE:RHI) announced a quarterly dividend on Monday, October 30th, RTT News reports. Shareholders of record on Friday, November 24th will be paid a dividend of 0.48 per share by the business services provider on Friday, December 15th. This represents a $1.92 annualized dividend and a yield of 2.33%. The ex-dividend date is Wednesday, November 22nd.

Robert Half has increased its dividend payment by an average of 11.5% per year over the last three years and has raised its dividend every year for the last 20 years. Robert Half has a payout ratio of 48.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Robert Half to earn $3.82 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 50.3%.

Robert Half Price Performance

Shares of Robert Half stock opened at $82.42 on Tuesday. The business’s fifty day moving average price is $74.94 and its two-hundred day moving average price is $74.01. The company has a market capitalization of $8.73 billion, a P/E ratio of 18.69, a PEG ratio of 16.48 and a beta of 1.26. Robert Half has a 1-year low of $64.65 and a 1-year high of $89.78.

Robert Half (NYSE:RHI) last announced its earnings results on Tuesday, October 24th. The business services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.09. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. Robert Half had a return on equity of 29.60% and a net margin of 7.09%. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.53 EPS. On average, research analysts expect that Robert Half will post 3.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

RHI has been the topic of several research analyst reports. StockNews.com upgraded Robert Half from a “hold” rating to a “buy” rating in a research report on Sunday, October 15th. Robert W. Baird decreased their target price on Robert Half from $88.00 to $82.00 in a report on Wednesday, July 26th. BMO Capital Markets decreased their target price on Robert Half from $84.00 to $76.00 in a report on Thursday, July 27th. UBS Group started coverage on Robert Half in a report on Tuesday, November 7th. They issued a “sell” rating and a $60.00 target price on the stock. Finally, Credit Suisse Group decreased their target price on Robert Half from $63.00 to $57.00 in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $68.63.

Insider Transactions at Robert Half

In other news, EVP Robert W. Glass sold 14,751 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $75.15, for a total value of $1,108,537.65. Following the completion of the sale, the executive vice president now owns 209,927 shares of the company’s stock, valued at $15,776,014.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.70% of the stock is currently owned by insiders.

Institutional Trading of Robert Half

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Robert Half by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,674,644 shares of the business services provider’s stock valued at $1,561,370,000 after purchasing an additional 42,681 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Robert Half by 116,277.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,941,582 shares of the business services provider’s stock worth $586,327,000 after buying an additional 7,934,758 shares during the last quarter. Capital World Investors acquired a new stake in shares of Robert Half in the first quarter worth about $636,060,000. State Street Corp lifted its position in shares of Robert Half by 2.5% in the second quarter. State Street Corp now owns 4,647,446 shares of the business services provider’s stock worth $349,581,000 after buying an additional 113,299 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Robert Half by 46.5% in the fourth quarter. Alliancebernstein L.P. now owns 2,808,208 shares of the business services provider’s stock worth $207,330,000 after buying an additional 891,202 shares during the last quarter. Institutional investors and hedge funds own 91.63% 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 three segments: Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti. 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.