Man Group plc Purchases 50,780 Shares of ManpowerGroup Inc. (NYSE:MAN)

Man Group plc increased its position in shares of ManpowerGroup Inc. (NYSE:MAN) by 59.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 136,212 shares of the business services provider’s stock after purchasing an additional 50,780 shares during the quarter. Man Group plc owned 0.29% of ManpowerGroup worth $7,862,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MAN. Twin Capital Management Inc. lifted its holdings in shares of ManpowerGroup by 1.7% in the fourth quarter. Twin Capital Management Inc. now owns 25,896 shares of the business services provider’s stock worth $1,495,000 after acquiring an additional 439 shares during the last quarter. Bank of Nova Scotia lifted its holdings in shares of ManpowerGroup by 8.8% in the fourth quarter. Bank of Nova Scotia now owns 5,676 shares of the business services provider’s stock worth $328,000 after acquiring an additional 458 shares during the last quarter. Colonial Trust Co SC bought a new position in shares of ManpowerGroup in the fourth quarter worth about $28,000. Synovus Financial Corp lifted its holdings in shares of ManpowerGroup by 6.4% in the fourth quarter. Synovus Financial Corp now owns 8,428 shares of the business services provider’s stock worth $486,000 after acquiring an additional 506 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of ManpowerGroup by 1.0% in the fourth quarter. KBC Group NV now owns 54,109 shares of the business services provider’s stock worth $3,123,000 after acquiring an additional 536 shares during the last quarter. Institutional investors own 98.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. BMO Capital Markets dropped their target price on shares of ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating for the company in a report on Monday, April 21st. Barclays raised shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $55.00 to $50.00 in a report on Thursday, April 10th. JPMorgan Chase & Co. dropped their price objective on shares of ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, April 21st. UBS Group dropped their price objective on shares of ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Finally, Truist Financial dropped their price objective on shares of ManpowerGroup from $55.00 to $48.00 and set a “hold” rating for the company in a report on Monday, April 21st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $57.50.

ManpowerGroup Stock Up 0.0%

Shares of NYSE MAN opened at $43.98 on Tuesday. The company has a 50 day simple moving average of $49.31 and a 200 day simple moving average of $55.85. The firm has a market cap of $2.04 billion, a PE ratio of 14.71 and a beta of 1.09. ManpowerGroup Inc. has a 1 year low of $38.10 and a 1 year high of $78.22. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.15.

ManpowerGroup (NYSE:MAN) last released its earnings results on Thursday, April 17th. The business services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The firm had revenue of $698.30 million for the quarter, compared to analyst estimates of $3.94 billion. ManpowerGroup had a net margin of 0.81% and a return on equity of 10.19%. During the same period in the prior year, the company posted $0.94 EPS. On average, research analysts forecast that ManpowerGroup Inc. will post 4.23 EPS for the current year.

ManpowerGroup Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.72 per share. This represents a yield of 3.5%. The ex-dividend date is Monday, June 2nd. ManpowerGroup’s dividend payout ratio is presently 62.61%.

ManpowerGroup Profile

ManpowerGroup Inc provides workforce solutions and services worldwide. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.