Allspring Global Investments Holdings LLC Buys 23,795 Shares of ManpowerGroup Inc. (NYSE:MAN)

Allspring Global Investments Holdings LLC lifted its holdings in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 79.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MAN. Colonial Trust Co SC acquired a new position in ManpowerGroup during the 4th quarter valued at about $28,000. Fifth Third Bancorp lifted its position in shares of ManpowerGroup by 48.6% during the 1st quarter. Fifth Third Bancorp now owns 743 shares of the business services provider's stock worth $43,000 after buying an additional 243 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of ManpowerGroup by 190.6% in the 1st quarter. GAMMA Investing LLC now owns 744 shares of the business services provider's stock worth $43,000 after buying an additional 488 shares during the last quarter. UMB Bank n.a. increased its position in shares of ManpowerGroup by 131.7% during the first quarter. UMB Bank n.a. now owns 899 shares of the business services provider's stock valued at $52,000 after acquiring an additional 511 shares during the last quarter. Finally, WFA Asset Management Corp boosted its position in ManpowerGroup by 129.3% in the first quarter. WFA Asset Management Corp now owns 1,376 shares of the business services provider's stock worth $80,000 after purchasing an additional 776 shares during the last quarter. Institutional investors and hedge funds own 98.03% of the company's stock.

ManpowerGroup Stock Up 1.6%

Shares of MAN traded up $0.72 on Wednesday, reaching $44.94. The stock had a trading volume of 293,366 shares, compared to its average volume of 719,152. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.12 and a current ratio of 1.12. ManpowerGroup Inc. has a 12-month low of $37.99 and a 12-month high of $78.22. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 19.53 and a beta of 1.07. The company has a 50-day simple moving average of $41.78 and a 200-day simple moving average of $50.74.

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 business had revenue of $698.30 million for the quarter, compared to the consensus estimate 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 firm posted $0.94 EPS. Sell-side analysts predict 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 was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.72 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a dividend yield of 3.5%. ManpowerGroup's dividend payout ratio is presently 62.61%.

Wall Street Analysts Forecast Growth

MAN has been the topic of a number of research analyst reports. Truist Financial cut their price target on shares of ManpowerGroup from $55.00 to $48.00 and set a "hold" rating on the stock in a report 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 report on Monday, April 21st. Wall Street Zen raised shares of ManpowerGroup from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Barclays upgraded shares of ManpowerGroup from an "underweight" rating to an "equal weight" rating and reduced their price target for the company from $55.00 to $50.00 in a research report on Thursday, April 10th. Finally, UBS Group reduced their target price on shares of ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, ManpowerGroup currently has an average rating of "Hold" and an average target price of $50.60.

About ManpowerGroup

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.