State of Tennessee Treasury Department cut its holdings in ManpowerGroup (NYSE:MAN) by 54.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,000 shares of the business services provider’s stock after selling 48,384 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.06% of ManpowerGroup worth $4,466,000 as of its most recent SEC filing.
Several other large 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 grew 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 during the period. First Quadrant L P CA purchased a new stake in shares of ManpowerGroup in the 2nd quarter worth about $123,000. Exane Derivatives grew 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 during the period. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of ManpowerGroup in the 2nd quarter worth about $201,000. 93.72% of the stock is currently owned by hedge funds and other institutional investors.
MAN has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $124.00 target price on shares of ManpowerGroup in a research report on Friday, September 1st. BidaskClub downgraded shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $111.00 target price (up from $106.00) on shares of ManpowerGroup in a research report on Tuesday, July 25th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $111.00 target price (up from $104.00) on shares of ManpowerGroup in a research report on Friday, July 14th. Finally, Zacks Investment Research raised shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Tuesday, July 4th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $109.60.
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In other ManpowerGroup news, EVP Mara E. Swan sold 2,393 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $109.18, for a total value of $261,267.74. Following the completion of the transaction, the executive vice president now directly owns 27,078 shares in the company, valued at $2,956,376.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sriram Chandrashekar sold 19,912 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $105.39, for a total transaction of $2,098,525.68. Following the completion of the transaction, the executive vice president now owns 1,659 shares of the company’s stock, valued at $174,842.01. The disclosure for this sale can be found here. Insiders sold 124,108 shares of company stock valued at $13,165,550 over the last quarter. 0.87% of the stock is currently owned by corporate insiders.
Shares of ManpowerGroup (NYSE:MAN) opened at 115.37 on Wednesday. ManpowerGroup has a 12 month low of $67.30 and a 12 month high of $119.59. The stock has a market capitalization of $7.70 billion, a P/E ratio of 17.65 and a beta of 1.38. The company’s 50-day moving average is $108.54 and its 200 day moving average is $105.32.
ManpowerGroup (NYSE:MAN) last announced its earnings results on Monday, July 24th. The business services provider reported $1.72 EPS for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.01). The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.06 billion. ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.60 earnings per share. Equities research analysts predict that ManpowerGroup will post $6.75 earnings per share for the current year.
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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