Ameriprise Financial Inc. Lowers Position in ManpowerGroup Inc. (NYSE:MAN)

Ameriprise Financial Inc. lowered its stake in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 17.3% in the fourth quarter, according to its most recent Form 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.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Algert Global LLC bought a new position in ManpowerGroup in the fourth quarter valued at about $250,000. Mercer Global Advisors Inc. ADV acquired a new stake in ManpowerGroup during the 4th quarter valued at approximately $308,000. Schonfeld Strategic Advisors LLC increased its position in ManpowerGroup by 693.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 33,980 shares of the business services provider's stock valued at $1,961,000 after purchasing an additional 29,700 shares during the period. AQR Capital Management LLC increased its holdings in ManpowerGroup by 45.8% in 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 purchasing an additional 711,043 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in ManpowerGroup by 24.0% in the fourth 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. Institutional investors own 98.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Truist Financial cut their target price on ManpowerGroup from $55.00 to $48.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Barclays upgraded ManpowerGroup from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $55.00 to $50.00 in a research note on Thursday, April 10th. JPMorgan Chase & Co. dropped their target price on ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Wall Street Zen lowered ManpowerGroup from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, UBS Group reduced their price target on ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $57.50.

ManpowerGroup Trading Down 1.0%

Shares of MAN traded down $0.43 during mid-day trading on Wednesday, hitting $42.38. 32,893 shares of the company's stock traded hands, compared to its average volume of 666,348. 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 1 year low of $38.10 and a 1 year high of $78.22. The firm has a market capitalization of $1.96 billion, a P/E ratio of 14.12 and a beta of 1.09. The business's 50-day moving average price is $47.26 and its 200-day moving average price is $55.01.

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

ManpowerGroup Cuts Dividend

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