Frank Rimerman Advisors LLC Makes New $770,000 Investment in ManpowerGroup Inc. (NYSE:MAN)

Key Points

• Frank Rimerman Advisors LLC invested $770,000 in ManpowerGroup Inc. by purchasing 13,308 shares in the 1st quarter, highlighting growing interest in the business services provider's stock.
• Wall Street analysts show mixed ratings for ManpowerGroup, with the consensus price target at $48.20 and six analysts rating the stock as a "hold."
• ManpowerGroup reported a better-than-expected EPS of $0.78 for the last quarter, exceeding estimates and generating revenue of $4.52 billion, although revenue was down 0.5% year-over-year.

Frank Rimerman Advisors LLC purchased a new stake in ManpowerGroup Inc. (NYSE:MAN - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,308 shares of the business services provider's stock, valued at approximately $770,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted 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 worth $130,125,000 after buying an additional 711,043 shares in the last quarter. ARGA Investment Management LP boosted its holdings in shares of ManpowerGroup by 539.8% during the first 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 during the last quarter. Millennium Management LLC increased its holdings in ManpowerGroup by 137.0% in the fourth quarter. Millennium Management LLC now owns 811,595 shares of the business services provider's stock valued at $46,845,000 after buying an additional 469,184 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in ManpowerGroup by 73.3% in 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 acquiring an additional 434,480 shares during the period. Finally, Barclays PLC lifted its position in ManpowerGroup by 194.3% in the fourth quarter. Barclays PLC now owns 455,803 shares of the business services provider's stock worth $26,308,000 after purchasing an additional 300,917 shares during the period. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MAN has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their target price 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. UBS Group upped their price target on shares of ManpowerGroup from $42.00 to $45.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Wall Street Zen upgraded shares of ManpowerGroup from a "sell" rating to a "hold" rating in a report on Friday, June 27th. BMO Capital Markets cut their price objective on shares of ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Finally, Truist Financial cut 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. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $48.20.

ManpowerGroup Stock Down 1.8%

NYSE MAN traded down $0.73 on Thursday, hitting $41.04. 187,334 shares of the company were exchanged, compared to its average volume of 914,778. ManpowerGroup Inc. has a 12 month low of $37.97 and a 12 month high of $75.57. The company has a market cap of $1.90 billion, a PE ratio of -107.89 and a beta of 1.08. The stock has a fifty day moving average of $41.87 and a 200-day moving average of $48.03. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.24.

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

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.