Ameriprise Financial Inc. Has $6.96 Million Position in ManpowerGroup Inc. (NYSE:MAN)

Ameriprise Financial Inc. lessened its stake in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,591 shares of the business services provider's stock after selling 25,259 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.26% of ManpowerGroup worth $6,961,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northern Trust Corp raised its stake in ManpowerGroup by 24.0% in the fourth quarter. Northern Trust Corp now owns 437,495 shares of the business services provider's stock valued at $25,252,000 after buying an additional 84,741 shares during the period. Merit Financial Group LLC bought a new stake in ManpowerGroup in the 4th quarter valued at $241,000. AlphaQuest LLC lifted its holdings in ManpowerGroup by 4,364.3% during the 4th quarter. AlphaQuest LLC now owns 27,991 shares of the business services provider's stock valued at $1,616,000 after purchasing an additional 27,364 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in ManpowerGroup by 34.5% during the 4th quarter. Bank of New York Mellon Corp now owns 748,246 shares of the business services provider's stock valued at $43,189,000 after purchasing an additional 191,901 shares during the last quarter. Finally, Barclays PLC boosted its position in ManpowerGroup by 62.9% during the third quarter. Barclays PLC now owns 154,886 shares of the business services provider's stock worth $11,387,000 after purchasing an additional 59,821 shares during the period. 98.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MAN shares. UBS Group cut their target price on shares of ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Wall Street Zen cut ManpowerGroup from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Barclays upgraded ManpowerGroup from an "underweight" rating to an "equal weight" rating and lowered their target price for the stock from $55.00 to $50.00 in a research note on Thursday, April 10th. Truist Financial dropped their price target on ManpowerGroup from $55.00 to $48.00 and set a "hold" rating for the company in a report on Monday, April 21st. Finally, BMO Capital Markets decreased their price objective on ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $57.50.

ManpowerGroup Price Performance

ManpowerGroup stock traded up $0.79 during mid-day trading on Tuesday, reaching $42.86. 157,153 shares of the company were exchanged, compared to its average volume of 667,533. The firm has a market cap of $1.98 billion, a PE ratio of 14.32 and a beta of 1.09. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.15. The company has a fifty day simple moving average of $47.59 and a 200-day simple moving average of $55.09. ManpowerGroup Inc. has a 12 month low of $38.10 and a 12 month high of $78.22.

ManpowerGroup (NYSE:MAN - Get Free Report) last issued its quarterly 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 quarter in the previous year, the business posted $0.94 EPS. As a group, equities research analysts expect that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

ManpowerGroup Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.72 dividend. This represents a yield of 3.5%. The ex-dividend date is Monday, June 2nd. ManpowerGroup's dividend payout ratio is presently 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.