Mackenzie Financial Corp Acquires 30,622 Shares of ManpowerGroup Inc. (NYSE:MAN)

Mackenzie Financial Corp boosted its holdings in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 122.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,554 shares of the business services provider's stock after acquiring an additional 30,622 shares during the quarter. Mackenzie Financial Corp owned 0.12% of ManpowerGroup worth $3,207,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vident Advisory LLC grew its holdings in shares of ManpowerGroup by 2.8% during the 4th quarter. Vident Advisory LLC now owns 10,708 shares of the business services provider's stock valued at $618,000 after purchasing an additional 290 shares during the last quarter. Twin Capital Management Inc. lifted its position in ManpowerGroup by 1.7% in the fourth quarter. Twin Capital Management Inc. now owns 25,896 shares of the business services provider's stock valued at $1,495,000 after purchasing an additional 439 shares during the last quarter. Bank of Nova Scotia grew its holdings in ManpowerGroup by 8.8% in the 4th quarter. Bank of Nova Scotia now owns 5,676 shares of the business services provider's stock worth $328,000 after acquiring an additional 458 shares during the last quarter. Colonial Trust Co SC bought a new stake in shares of ManpowerGroup in the fourth quarter worth about $28,000. Finally, Synovus Financial Corp grew its position in shares of ManpowerGroup by 6.4% in the 4th quarter. Synovus Financial Corp now owns 8,428 shares of the business services provider's stock worth $486,000 after buying an additional 506 shares during the last quarter. 98.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MAN shares. UBS Group dropped their target price on shares of ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Barclays raised shares of ManpowerGroup from an "underweight" rating to an "equal weight" rating and dropped their price objective for the stock from $55.00 to $50.00 in a research note on Thursday, April 10th. BMO Capital Markets lowered their target price on shares of ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating for the company in a report on Monday, April 21st. Wall Street Zen downgraded ManpowerGroup from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. lowered their price target on ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $57.50.

ManpowerGroup Stock Performance

MAN traded up $0.70 during mid-day trading on Tuesday, reaching $40.93. 644,316 shares of the company traded hands, compared to its average volume of 679,309. The stock has a market capitalization of $1.89 billion, a P/E ratio of 13.69 and a beta of 1.09. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. ManpowerGroup Inc. has a 52-week low of $38.10 and a 52-week high of $78.22. The company's fifty day moving average price is $45.57 and its 200-day moving average price is $54.25.

ManpowerGroup (NYSE:MAN - Get Free Report) last announced its earnings results on Thursday, April 17th. The business services provider reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.08). The company had revenue of $698.30 million during the quarter, compared to the consensus estimate of $3.94 billion. ManpowerGroup had a return on equity of 10.19% and a net margin of 0.81%. During the same period in the prior year, the business posted $0.94 earnings per share. On average, sell-side analysts expect that ManpowerGroup Inc. will post 4.23 EPS for the current year.

ManpowerGroup Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.72 per share. The ex-dividend date is Monday, June 2nd. This represents a dividend yield of 3.5%. ManpowerGroup's payout ratio is currently 62.61%.

About ManpowerGroup

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.