Bayesian Capital Management LP Makes New Investment in ManpowerGroup Inc. (NYSE:MAN)

Bayesian Capital Management LP acquired a new position in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 9,700 shares of the business services provider's stock, valued at approximately $560,000.

Other hedge funds have also made changes to their positions in the company. Merit Financial Group LLC purchased a new stake in shares of ManpowerGroup in the fourth quarter valued at approximately $241,000. AlphaQuest LLC grew its holdings in ManpowerGroup by 4,364.3% in the 4th 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 increased its stake in shares of ManpowerGroup by 34.5% in the 4th quarter. Bank of New York Mellon Corp now owns 748,246 shares of the business services provider's stock worth $43,189,000 after acquiring an additional 191,901 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of ManpowerGroup by 1.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 162,534 shares of the business services provider's stock worth $11,950,000 after acquiring an additional 1,999 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of ManpowerGroup by 1,373.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 53,473 shares of the business services provider's stock valued at $3,086,000 after acquiring an additional 49,845 shares during the last quarter. Institutional investors and hedge funds own 98.03% of the company's stock.

Wall Street Analyst Weigh In

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

ManpowerGroup Trading Up 0.1 %

NYSE:MAN traded up $0.06 during trading hours on Friday, reaching $41.47. 669,413 shares of the stock were exchanged, compared to its average volume of 651,092. ManpowerGroup Inc. has a twelve month low of $38.10 and a twelve month high of $78.87. The business has a 50-day moving average of $51.33 and a two-hundred day moving average of $56.76. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 13.87 and a beta of 1.09. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.44.

ManpowerGroup (NYSE:MAN - Get Free Report) last announced its earnings results on Thursday, April 17th. The business services provider reported $0.44 EPS 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 analysts' expectations of $3.94 billion. ManpowerGroup had a net margin of 0.81% and a return on equity of 10.19%. During the same quarter last year, the business earned $0.94 earnings per share. On average, equities analysts predict that ManpowerGroup Inc. will post 4.23 EPS for the current year.

ManpowerGroup Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.72 dividend. The ex-dividend date is Monday, June 2nd. This represents a dividend yield of 3.5%. ManpowerGroup's dividend payout ratio (DPR) is 133.91%.

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.