ManpowerGroup Inc. (NYSE:MAN) Shares Sold by Bryce Point Capital LLC

Key Points

• Bryce Point Capital LLC has reduced its stake in ManpowerGroup Inc. by 51.8%, now owning 12,525 shares worth approximately $712,000.
• Several institutional investors have increased their positions in ManpowerGroup, with Principal Financial Group Inc. holding the largest stake at 107,969 shares, valued at $6.25 million.
• Analysts have mixed views on ManpowerGroup, with the average price target set at $48.20 and a consensus rating of "Hold" among six research analysts.

Bryce Point Capital LLC lowered its stake in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 51.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,525 shares of the business services provider's stock after selling 13,482 shares during the quarter. Bryce Point Capital LLC's holdings in ManpowerGroup were worth $712,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MAN. Northern Trust Corp grew its holdings in shares of ManpowerGroup by 24.0% during the 4th quarter. Northern Trust Corp now owns 437,495 shares of the business services provider's stock worth $25,252,000 after purchasing an additional 84,741 shares in the last quarter. Perigon Wealth Management LLC acquired a new stake in ManpowerGroup during the first quarter worth about $253,000. GAMMA Investing LLC raised its position 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 valued at $43,000 after buying an additional 488 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of ManpowerGroup during the 1st quarter worth approximately $887,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of ManpowerGroup by 79.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 53,703 shares of the business services provider's stock worth $3,150,000 after acquiring an additional 23,795 shares in the last quarter. Institutional investors own 98.03% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Truist Financial lowered their price objective on shares of ManpowerGroup from $55.00 to $48.00 and set a "hold" rating for the company in a research report on Monday, April 21st. BMO Capital Markets reduced their price objective on ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. UBS Group upped their price target on shares of ManpowerGroup from $42.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. JPMorgan Chase & Co. decreased their price target on shares of ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Finally, Barclays raised shares of ManpowerGroup from an "underweight" rating to an "equal weight" rating and decreased their target price for the company from $55.00 to $50.00 in a research report on Thursday, April 10th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $48.20.

ManpowerGroup Trading Down 2.3%

NYSE:MAN traded down $1.00 during midday trading on Thursday, reaching $41.48. 202,293 shares of the stock traded hands, compared to its average volume of 914,228. The company has a fifty day moving average of $42.27 and a 200 day moving average of $49.38. The stock has a market capitalization of $1.92 billion, a P/E ratio of -109.14 and a beta of 1.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.12 and a current ratio of 0.98. ManpowerGroup Inc. has a 12 month low of $37.99 and a 12 month high of $77.85.

ManpowerGroup (NYSE:MAN - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The business services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.09. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.34 billion. ManpowerGroup had a positive return on equity of 7.98% and a negative net margin of 0.09%. The company's revenue was down .5% on a year-over-year basis. During the same period last year, the company earned $1.30 earnings per share. On average, research analysts predict that ManpowerGroup Inc. will post 4.23 EPS for the current year.

ManpowerGroup Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.72 dividend. The ex-dividend date was Monday, June 2nd. This represents a dividend yield of 3.5%. ManpowerGroup's payout ratio is currently -378.95%.

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.