ARGA Investment Management LP Boosts Stock Position in ManpowerGroup Inc. (NYSE:MAN)

ARGA Investment Management LP lifted its position in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 539.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 587,048 shares of the business services provider's stock after buying an additional 495,296 shares during the quarter. ManpowerGroup makes up 1.1% of ARGA Investment Management LP's holdings, making the stock its 19th largest holding. ARGA Investment Management LP owned about 1.26% of ManpowerGroup worth $33,978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MAN. AQR Capital Management LLC boosted its position in ManpowerGroup by 45.8% during the fourth quarter. AQR Capital Management LLC now owns 2,262,265 shares of the business services provider's stock valued at $130,125,000 after purchasing an additional 711,043 shares in the last quarter. Norges Bank bought a new stake in ManpowerGroup during the fourth quarter valued at about $27,706,000. Millennium Management LLC boosted its position in ManpowerGroup by 137.0% during the fourth quarter. Millennium Management LLC now owns 811,595 shares of the business services provider's stock valued at $46,845,000 after purchasing an additional 469,184 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in ManpowerGroup by 73.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,027,000 shares of the business services provider's stock valued at $59,443,000 after purchasing an additional 434,480 shares in the last quarter. Finally, Barclays PLC boosted its position in ManpowerGroup by 194.3% during the fourth quarter. Barclays PLC now owns 455,803 shares of the business services provider's stock valued at $26,308,000 after purchasing an additional 300,917 shares in the last quarter. Institutional investors own 98.03% of the company's stock.

Analysts Set New Price Targets

MAN has been the subject of several recent analyst reports. Truist Financial lowered their price target on ManpowerGroup from $55.00 to $48.00 and set a "hold" rating for the company in a report on Monday, April 21st. Wall Street Zen upgraded ManpowerGroup from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. reduced their price target on ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. UBS Group reduced their price target on ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Barclays raised ManpowerGroup from an "underweight" rating to an "equal weight" rating and reduced their target price for the stock from $55.00 to $50.00 in a research note on Thursday, April 10th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $50.60.

ManpowerGroup Price Performance

Shares of NYSE:MAN traded down $0.80 during trading on Friday, reaching $44.12. The stock had a trading volume of 754,201 shares, compared to its average volume of 725,736. 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 business has a fifty day moving average price of $41.85 and a 200-day moving average price of $50.53. The stock has a market cap of $2.04 billion, a PE ratio of 19.18 and a beta of 1.07. ManpowerGroup Inc. has a 1-year low of $37.99 and a 1-year high of $78.22.

ManpowerGroup (NYSE:MAN - Get Free Report) last released its quarterly earnings data 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 company had revenue of $698.30 million for the quarter, compared to analyst estimates of $3.94 billion. ManpowerGroup had a return on equity of 9.10% and a net margin of 0.63%. During the same period last year, the firm posted $0.94 EPS. On average, equities analysts forecast that ManpowerGroup Inc. will post 4.23 earnings per share 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 paid a dividend of $0.72 per share. This represents a yield of 3.5%. The ex-dividend date was Monday, June 2nd. ManpowerGroup's dividend payout ratio (DPR) is currently 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.