Riverhead Capital Management LLC increased its holdings in ManpowerGroup (NYSE:MAN) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,600 shares of the business services provider’s stock after buying an additional 503 shares during the period. Riverhead Capital Management LLC owned about 0.06% of ManpowerGroup worth $4,198,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in MAN. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of ManpowerGroup in the 1st quarter worth about $101,000. IFP Advisors Inc boosted its position in shares of ManpowerGroup by 14.1% in the 2nd quarter. IFP Advisors Inc now owns 941 shares of the business services provider’s stock worth $105,000 after buying an additional 116 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of ManpowerGroup in the 2nd quarter worth about $123,000. Exane Derivatives boosted its position in shares of ManpowerGroup by 166.7% in the 2nd quarter. Exane Derivatives now owns 1,379 shares of the business services provider’s stock worth $154,000 after buying an additional 862 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of ManpowerGroup in the 2nd quarter worth about $201,000. Institutional investors and hedge funds own 93.72% of the company’s stock.
ManpowerGroup (MAN) opened at 114.75 on Wednesday. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 17.55 and a beta of 1.38. The firm has a 50-day moving average of $108.54 and a 200-day moving average of $105.32. ManpowerGroup has a 12-month low of $67.30 and a 12-month high of $119.59.
ManpowerGroup (NYSE:MAN) last released its earnings results on Monday, July 24th. The business services provider reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.01). The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.06 billion. ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. ManpowerGroup’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.60 earnings per share. Equities research analysts forecast that ManpowerGroup will post $6.75 earnings per share for the current fiscal year.
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Several research firms recently commented on MAN. BidaskClub upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Northcoast Research reiterated a “neutral” rating on shares of ManpowerGroup in a research report on Monday, July 17th. Zacks Investment Research upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Tuesday, July 4th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $111.00 price objective (up from $104.00) on shares of ManpowerGroup in a research report on Friday, July 14th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $111.00 price objective (up from $106.00) on shares of ManpowerGroup in a research report on Tuesday, July 25th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $109.60.
In related news, EVP Sriram Chandrashekar sold 19,912 shares of ManpowerGroup stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $105.39, for a total value of $2,098,525.68. Following the transaction, the executive vice president now owns 1,659 shares of the company’s stock, valued at approximately $174,842.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard Buchband sold 1,250 shares of ManpowerGroup stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $109.00, for a total value of $136,250.00. Following the completion of the transaction, the senior vice president now directly owns 3,884 shares in the company, valued at approximately $423,356. The disclosure for this sale can be found here. Insiders sold a total of 124,108 shares of company stock worth $13,165,550 in the last three months. 0.87% of the stock is currently owned by company insiders.
ManpowerGroup Company Profile
ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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