Bank of New York Mellon Corp Reduces Stock Position in ManpowerGroup Inc. (NYSE:MAN)

Bank of New York Mellon Corp reduced its stake in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 728,094 shares of the business services provider's stock after selling 20,152 shares during the period. Bank of New York Mellon Corp owned 1.56% of ManpowerGroup worth $42,142,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. SummerHaven Investment Management LLC grew its holdings in ManpowerGroup by 2.1% in the first quarter. SummerHaven Investment Management LLC now owns 11,657 shares of the business services provider's stock worth $675,000 after purchasing an additional 238 shares during the period. Fifth Third Bancorp grew its holdings in ManpowerGroup by 48.6% in 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 during the period. Principal Financial Group Inc. grew its holdings in ManpowerGroup by 0.3% in the first quarter. Principal Financial Group Inc. now owns 107,969 shares of the business services provider's stock worth $6,249,000 after purchasing an additional 278 shares during the period. Vident Advisory LLC grew its holdings in ManpowerGroup by 2.8% in the fourth quarter. Vident Advisory LLC now owns 10,708 shares of the business services provider's stock worth $618,000 after purchasing an additional 290 shares during the period. Finally, KBC Group NV grew its holdings in ManpowerGroup by 0.6% in the first quarter. KBC Group NV now owns 54,456 shares of the business services provider's stock worth $3,152,000 after purchasing an additional 347 shares during the period. 98.03% of the stock is owned by institutional investors.

ManpowerGroup Stock Up 3.1%

Shares of NYSE:MAN traded up $1.34 during trading on Thursday, reaching $44.44. 3,000,444 shares of the stock traded hands, compared to its average volume of 744,230. The stock has a 50-day moving average of $42.13 and a two-hundred day moving average of $50.15. ManpowerGroup Inc. has a 52-week low of $37.99 and a 52-week high of $78.22. 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 stock has a market cap of $2.06 billion, a P/E ratio of 19.32 and a beta of 1.07.

ManpowerGroup (NYSE:MAN - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The business services provider reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.09. ManpowerGroup had a net margin of 0.63% and a return on equity of 9.10%. The firm had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.34 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The business's revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts expect that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

ManpowerGroup Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.72 per share. This represents a dividend yield of 3.5%. The ex-dividend date was Monday, June 2nd. ManpowerGroup's payout ratio is 62.61%.

Wall Street Analysts Forecast Growth

MAN has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on shares of ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Truist Financial cut their price objective 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. UBS Group upped their price objective on shares of ManpowerGroup from $42.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday. Barclays upgraded shares of ManpowerGroup from an "underweight" rating to an "equal weight" rating and cut their price objective for the stock from $55.00 to $50.00 in a report on Thursday, April 10th. Finally, BMO Capital Markets cut their price target 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. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, ManpowerGroup has an average rating of "Hold" and an average price target of $48.20.

ManpowerGroup Company 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.