Allspring Global Investments Holdings LLC increased its holdings in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 79.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,703 shares of the business services provider's stock after purchasing an additional 23,795 shares during the period. Allspring Global Investments Holdings LLC owned 0.11% of ManpowerGroup worth $3,150,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Colonial Trust Co SC purchased a new position in shares of ManpowerGroup in the fourth quarter worth $28,000. Fifth Third Bancorp increased its position in shares of ManpowerGroup by 48.6% during the first quarter. Fifth Third Bancorp now owns 743 shares of the business services provider's stock worth $43,000 after purchasing an additional 243 shares in the last quarter. GAMMA Investing LLC grew its position in shares of ManpowerGroup by 190.6% in the first quarter. GAMMA Investing LLC now owns 744 shares of the business services provider's stock valued at $43,000 after purchasing an additional 488 shares in the last quarter. UMB Bank n.a. raised its stake in ManpowerGroup by 131.7% during the first quarter. UMB Bank n.a. now owns 899 shares of the business services provider's stock worth $52,000 after purchasing an additional 511 shares during the period. Finally, WFA Asset Management Corp lifted its stake in shares of ManpowerGroup by 129.3% in the 1st quarter. WFA Asset Management Corp now owns 1,376 shares of the business services provider's stock valued at $80,000 after purchasing an additional 776 shares during the last quarter. 98.03% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on MAN shares. Barclays upgraded ManpowerGroup from an "underweight" rating to an "equal weight" rating and lowered their target price for the company from $55.00 to $50.00 in a report on Thursday, April 10th. Wall Street Zen upgraded shares of ManpowerGroup from a "sell" rating to a "hold" rating in a report on Friday, June 27th. BMO Capital Markets reduced their target price on shares of ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Truist Financial dropped their price target on shares of ManpowerGroup from $55.00 to $48.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. reduced their price objective on ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Six research analysts have rated the stock with a hold rating, According to MarketBeat, ManpowerGroup currently has an average rating of "Hold" and a consensus price target of $50.60.
Check Out Our Latest Stock Report on ManpowerGroup
ManpowerGroup Stock Performance
MAN traded up $0.59 during trading on Wednesday, hitting $44.81. The stock had a trading volume of 1,190,349 shares, compared to its average volume of 722,599. ManpowerGroup Inc. has a twelve month low of $37.99 and a twelve month high of $78.22. The firm has a market capitalization of $2.07 billion, a P/E ratio of 19.48 and a beta of 1.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.12 and a current ratio of 1.12. The company's 50-day moving average price is $41.81 and its 200 day moving average price is $50.70.
ManpowerGroup (NYSE:MAN - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.08). The company had revenue of $698.30 million during the quarter, compared to analyst estimates of $3.94 billion. ManpowerGroup had a net margin of 0.63% and a return on equity of 9.10%. During the same quarter last year, the business earned $0.94 EPS. On average, equities research analysts forecast that ManpowerGroup Inc. will post 4.23 EPS for the current fiscal year.
ManpowerGroup Cuts Dividend
The business also recently disclosed a semi-annual dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.72 dividend. This represents a yield of 3.5%. The ex-dividend date was Monday, June 2nd. ManpowerGroup's dividend payout ratio (DPR) is presently 62.61%.
About ManpowerGroup
(
Free Report)
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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