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Northern Trust Corp raised its holdings in shares of ManpowerGroup Inc. (NYSE:MAN – Free Report) by 24.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 437,495 shares of the business services provider’s stock after buying an additional 84,741 shares during the period. Northern Trust Corp owned about 0.93% of ManpowerGroup worth $25,252,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Merit Financial Group LLC acquired a new position in ManpowerGroup during the fourth quarter valued at approximately $241,000. AlphaQuest LLC lifted its position in ManpowerGroup by 4,364.3% during the fourth quarter. AlphaQuest LLC now owns 27,991 shares of the business services provider’s stock valued at $1,616,000 after buying an additional 27,364 shares in the last quarter. Bank of New York Mellon Corp lifted its position in ManpowerGroup by 34.5% during the fourth quarter. Bank of New York Mellon Corp now owns 748,246 shares of the business services provider’s stock valued at $43,189,000 after buying an additional 191,901 shares in the last quarter. JPMorgan Chase & Co. lifted its position in ManpowerGroup by 1.2% during the third quarter. JPMorgan Chase & Co. now owns 162,534 shares of the business services provider’s stock valued at $11,950,000 after buying an additional 1,999 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in ManpowerGroup by 1,373.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 53,473 shares of the business services provider’s stock valued at $3,086,000 after buying an additional 49,845 shares in the last quarter. 98.03% of the stock is owned by institutional investors and hedge funds.
ManpowerGroup Stock Up 0.1%
Shares of NYSE:MAN opened at $41.47 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $51.33 and a 200 day simple moving average of $56.68. The firm has a market cap of $1.92 billion, a PE ratio of 13.87 and a beta of 1.09. ManpowerGroup Inc. has a 12-month low of $38.10 and a 12-month high of $78.87.
ManpowerGroup (NYSE:MAN – Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The company had revenue of $698.30 million during the quarter, compared to the consensus estimate of $3.94 billion. ManpowerGroup had a return on equity of 10.19% and a net margin of 0.81%. During the same quarter last year, the firm posted $0.94 EPS. On average, equities research analysts anticipate that ManpowerGroup Inc. will post 4.23 EPS for the current fiscal year.
ManpowerGroup Cuts Dividend
The business also recently declared a semi-annual dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.72 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a dividend yield of 3.5%. ManpowerGroup’s dividend payout ratio (DPR) is presently 62.61%.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on MAN. Truist Financial reduced their price target on shares of ManpowerGroup from $55.00 to $48.00 and set a “hold” rating on the stock in a research 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 on the stock in a research note on Thursday, April 10th. BMO Capital Markets dropped their price objective on shares of ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. dropped their price objective on shares of ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Finally, Barclays upgraded shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $55.00 to $50.00 in a research note on Thursday, April 10th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $57.50.
Read Our Latest Research Report on MAN
ManpowerGroup Company 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.
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