Edgestream Partners L.P. Buys Shares of 54,214 ManpowerGroup Inc. (NYSE:MAN)

Edgestream Partners L.P. bought a new position in ManpowerGroup Inc. (NYSE:MAN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 54,214 shares of the business services provider's stock, valued at approximately $3,138,000. Edgestream Partners L.P. owned about 0.12% of ManpowerGroup at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. CWM LLC grew its position in shares of ManpowerGroup by 62.0% during the 1st quarter. CWM LLC now owns 39,813 shares of the business services provider's stock worth $2,304,000 after buying an additional 15,231 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of ManpowerGroup by 336.5% in the first quarter. New York State Common Retirement Fund now owns 177,103 shares of the business services provider's stock valued at $10,251,000 after buying an additional 136,532 shares during the period. Cerity Partners LLC increased its position in shares of ManpowerGroup by 17.7% during the first quarter. Cerity Partners LLC now owns 36,460 shares of the business services provider's stock worth $2,110,000 after acquiring an additional 5,472 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in ManpowerGroup by 20.4% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 15,020 shares of the business services provider's stock valued at $869,000 after acquiring an additional 2,550 shares in the last quarter. Finally, ARGA Investment Management LP increased its holdings in ManpowerGroup by 539.8% during the 1st quarter. ARGA Investment Management LP now owns 587,048 shares of the business services provider's stock worth $33,978,000 after purchasing an additional 495,296 shares in the last quarter. Institutional investors and hedge funds own 98.03% of the company's stock.

Analysts Set New Price Targets

MAN has been the topic of several research reports. Truist Financial cut their target price on ManpowerGroup from $55.00 to $48.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. UBS Group boosted their target price on ManpowerGroup from $42.00 to $45.00 and gave the company a "neutral" rating in a research note on Monday. Wall Street Zen upgraded ManpowerGroup from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. dropped their price objective on ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Finally, BMO Capital Markets dropped 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. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, ManpowerGroup currently has a consensus rating of "Hold" and a consensus target price of $48.20.

ManpowerGroup Trading Up 3.1%

Shares of MAN traded up $1.34 during mid-day trading on Thursday, reaching $44.44. 3,000,444 shares of the company were exchanged, compared to its average volume of 744,230. 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 capitalization of $2.06 billion, a PE ratio of 19.32 and a beta of 1.07. The business has a 50 day simple moving average of $42.13 and a two-hundred day simple moving average of $50.15.

ManpowerGroup (NYSE:MAN - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The business services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.09. ManpowerGroup had a return on equity of 9.10% and a net margin of 0.63%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the company earned $1.30 earnings per share. The firm's revenue was down .5% compared to the same quarter last year. On average, analysts predict that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

ManpowerGroup Cuts Dividend

The company also recently disclosed 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. 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 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.