Aigen Investment Management LP has made an impressive move by increasing its stake in Robert Half International Inc. (NYSE: RHI) by 210.3% in the 4th quarter, according to the latest filing with the Securities and Exchange Commission (SEC). The institutional investor is now the owner of 14,400 shares of the business services provider’s stock after adding 9,759 additional shares during this period. As of March 31st, Aigen’s holdings were valued at $1.06 million.
Robert Half International reported earnings per share (EPS) for the first quarter on April 26th, with a consensus estimate that was beaten by $0.01 per share. The company had revenues of $1.72 billion for this period compared to expectations of $1.71 billion, while analysts anticipate that it will post an EPS of 4.44 for the current fiscal year.
The company’s earnings announcement did not deter some executives from realizing profits through stock sales; EVP Robert W. Glass sold a significant sum on March 3rd that amounted to $1,011,750, while Director Dirk A Kempthorne netted roughly $278K from a sale on February 22nd. In total, insiders now have control up to 2.8% of the firm’s shares.
Interestingly enough, despite these transactions from company executives and representatives from Aigen Investment Management LP who purchased additional shares lately last year when Robert Half’s stock wasn’t doing well at all leaving many still questioning their investment motives; as the board has authorized a share buyback plan that allows them to repurchase up to ten million preferred stocks through open market purchases in hopes this will create interest among shareholders and potential investors alike.
The fact that Robert Half is taking steps to potentially boost its stock price should be reassuring to those who follow the company closely and may offer comfort amid any uncertainty in current markets. Investors should consider the risk and rewards associated with any business before making any decisions regarding investing or purchasing stocks.
Institutional Investors Show Interest in Robert Half International’s Stock and Dividend Payouts[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”RHI” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]
Robert Half International (RHI) has recently garnered attention from institutional investors, with several hedge funds modifying their holdings of the stock. Salem Investment Counselors Inc. acquired a stake valued at $28,000 in the second quarter, while Spire Wealth Management paid around $29,000 for its share during the third quarter. Signaturefd LLC raised its position by 48.5% during the same period and Bessemer Group Inc. increased its stake by 85.1%. Meanwhile, Allworth Financial LP boosted its position by 43.1% in the fourth quarter of last year. In total, institutional investors now own more than 94% of RHI’s stock.
Despite recent fluctuations in price, shares of RHI opened at $68.51 on Tuesday, falling within the range of its 12-month low to high values: $65.40 to $92.27, respectively. The firm has a market capitalization of $7.38 billion and a beta of 1.32 with a price-to-earnings ratio of 12.15 and a price-to-earnings-growth ratio of 2.41.
On top of making waves in terms of institutional investment action and share value movement, Robert Half International also recently announced news that would interest shareholders looking for dividend income: A quarterly dividend will be paid on Thursday, June 15th to those who are registered as stockholders on or before May 25thof this year; they will receive a dividend payout worth $0.48 per share held periodically thereafter every quarter until May next year.
As RHI continues to provide returns and reassurances to its investors through good fortune in institutional investment activity and continued payments to shareholders via dividends such as these periodic payouts at regular intervals throughout the year into next year,the company remains an interesting proposition for financiers keen on seeing solid returns over time against relatively low risks associated with established, traditional business services providers such as Robert Half International.