Assenagon Asset Management S.A. Acquires Shares of 128,000 ManpowerGroup Inc. $MAN

Key Points

• Assenagon Asset Management acquired 128,000 ManpowerGroup shares worth approximately $4.3 million, while institutional investors collectively own 98.03% of the company.
• ManpowerGroup exceeded quarterly expectations, reporting $0.99 in earnings per share versus the $0.96 consensus estimate and revenue of $4.86 billion versus $4.72 billion expected.
• The stock opened at $56.12, near its 52-week high of $57.94. Analysts maintain a consensus “Hold” rating with an average price target of $53.50, despite several recent target increases.

Assenagon Asset Management S.A. acquired a new stake in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 128,000 shares of the business services provider's stock, valued at approximately $4,323,000. Assenagon Asset Management S.A. owned about 0.28% of ManpowerGroup at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in ManpowerGroup by 60.3% in the 3rd quarter. AQR Capital Management LLC now owns 3,704,326 shares of the business services provider's stock valued at $140,394,000 after acquiring an additional 1,393,622 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of ManpowerGroup by 235.8% during the 1st quarter. Quantinno Capital Management LP now owns 1,793,963 shares of the business services provider's stock valued at $52,850,000 after purchasing an additional 1,259,752 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of ManpowerGroup by 696.9% during the second quarter. Balyasny Asset Management L.P. now owns 991,063 shares of the business services provider's stock valued at $40,039,000 after purchasing an additional 866,693 shares in the last quarter. Millennium Management LLC grew its position in shares of ManpowerGroup by 77.3% during the fourth quarter. Millennium Management LLC now owns 1,525,936 shares of the business services provider's stock valued at $45,366,000 after purchasing an additional 665,135 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of ManpowerGroup in the fourth quarter worth about $14,420,000. Hedge funds and other institutional investors own 98.03% of the company's stock.

ManpowerGroup Price Performance

NYSE:MAN opened at $56.12 on Thursday. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 25.51 and a beta of 0.67. ManpowerGroup Inc. has a 1 year low of $25.15 and a 1 year high of $57.94. The business has a 50 day simple moving average of $42.73 and a 200-day simple moving average of $34.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.04 and a quick ratio of 1.12.

ManpowerGroup (NYSE:MAN - Get Free Report) last released its earnings results on Thursday, July 16th. The business services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. ManpowerGroup had a return on equity of 7.45% and a net margin of 0.56%.The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the previous year, the company posted ($1.44) EPS. ManpowerGroup has set its Q3 2026 guidance at 0.960-1.060 EPS. Equities analysts forecast that ManpowerGroup Inc. will post 3.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wall Street Zen downgraded ManpowerGroup from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. BMO Capital Markets raised their price target on ManpowerGroup from $49.00 to $63.00 and gave the company an "outperform" rating in a report on Friday, July 17th. The Goldman Sachs Group lifted their price objective on ManpowerGroup from $36.00 to $57.00 and gave the stock a "neutral" rating in a research note on Friday, July 17th. Truist Financial increased their target price on ManpowerGroup from $34.00 to $50.00 and gave the company a "hold" rating in a research report on Friday, July 17th. Finally, Barclays increased their target price on ManpowerGroup from $30.00 to $47.00 and gave the company an "equal weight" rating in a research report on Monday, July 20th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $53.50.

ManpowerGroup Profile

ManpowerGroup NYSE: MAN is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.

The company's service offerings are organized into four principal brands.

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