Bank of America Corp DE Has $2.84 Million Stock Holdings in ManpowerGroup Inc. (NYSE:MAN)

Bank of America Corp DE reduced its stake in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 28.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 49,245 shares of the business services provider's stock after selling 19,239 shares during the quarter. Bank of America Corp DE owned approximately 0.10% of ManpowerGroup worth $2,842,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Twin Capital Management Inc. lifted its holdings in shares of ManpowerGroup by 1.7% during the 4th quarter. Twin Capital Management Inc. now owns 25,896 shares of the business services provider's stock worth $1,495,000 after acquiring an additional 439 shares during the period. Bank of Nova Scotia raised its holdings in shares of ManpowerGroup by 8.8% in the fourth quarter. Bank of Nova Scotia now owns 5,676 shares of the business services provider's stock valued at $328,000 after buying an additional 458 shares during the last quarter. Synovus Financial Corp grew its holdings in ManpowerGroup by 6.4% during the 4th quarter. Synovus Financial Corp now owns 8,428 shares of the business services provider's stock worth $486,000 after acquiring an additional 506 shares during the last quarter. KBC Group NV grew its stake in shares of ManpowerGroup by 1.0% during the fourth quarter. KBC Group NV now owns 54,109 shares of the business services provider's stock valued at $3,123,000 after purchasing an additional 536 shares during the last quarter. Finally, Alexander Randolph Advisory Inc. raised its position in ManpowerGroup by 1.7% in the 4th quarter. Alexander Randolph Advisory Inc. now owns 33,148 shares of the business services provider's stock worth $1,913,000 after purchasing an additional 545 shares during the last quarter. Institutional investors own 98.03% of the company's stock.

ManpowerGroup Stock Performance

Shares of MAN traded down $0.04 during mid-day trading on Wednesday, reaching $40.84. The company's stock had a trading volume of 54,092 shares, compared to its average volume of 676,879. ManpowerGroup Inc. has a 1-year low of $38.10 and a 1-year high of $78.22. The business has a 50-day simple moving average of $45.57 and a two-hundred day simple moving average of $54.25. The company has a current ratio of 1.12, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.89 billion, a P/E ratio of 13.65 and a beta of 1.09.

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 the consensus estimate of $0.52 by ($0.08). The company had revenue of $698.30 million for 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 previous year, the firm posted $0.94 EPS. As a group, equities research analysts anticipate that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

ManpowerGroup Cuts Dividend

The business also recently announced 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 of this dividend is Monday, June 2nd. This represents a dividend yield of 3.5%. ManpowerGroup's payout ratio is 62.61%.

Analyst Ratings Changes

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

ManpowerGroup Company 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.