Teacher Retirement System of Texas Cuts Holdings in ManpowerGroup Inc. (NYSE:MAN)

Teacher Retirement System of Texas cut its holdings in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 18.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 97,083 shares of the business services provider's stock after selling 21,771 shares during the quarter. Teacher Retirement System of Texas owned about 0.21% of ManpowerGroup worth $5,619,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Northern Trust Corp boosted its stake in shares of ManpowerGroup by 24.0% during the 4th quarter. Northern Trust Corp now owns 437,495 shares of the business services provider's stock worth $25,252,000 after buying an additional 84,741 shares during the last quarter. Perigon Wealth Management LLC acquired a new position in shares of ManpowerGroup during the 1st quarter worth about $253,000. AlphaQuest LLC boosted its position in ManpowerGroup by 4,364.3% during the fourth 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. Janney Montgomery Scott LLC acquired a new position in ManpowerGroup during the first quarter valued at approximately $887,000. Finally, Allspring Global Investments Holdings LLC boosted its position in ManpowerGroup by 79.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 53,703 shares of the business services provider's stock valued at $3,150,000 after purchasing an additional 23,795 shares during the last quarter. 98.03% of the stock is currently owned by institutional investors and hedge funds.

ManpowerGroup Trading Up 0.6%

Shares of NYSE:MAN traded up $0.27 during midday trading on Thursday, hitting $44.96. 871,752 shares of the stock were exchanged, compared to its average volume of 723,193. ManpowerGroup Inc. has a 12 month low of $37.99 and a 12 month high of $78.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 19.55 and a beta of 1.07. The business's 50-day moving average price is $41.81 and its 200 day moving average price is $50.70.

ManpowerGroup (NYSE:MAN - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.44 earnings per share 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 analyst estimates of $3.94 billion. ManpowerGroup had a net margin of 0.63% and a return on equity of 9.10%. During the same quarter in the previous year, the company earned $0.94 earnings per share. Analysts predict that ManpowerGroup Inc. will post 4.23 earnings per share for the current year.

ManpowerGroup Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.72 per share. This represents a yield of 3.5%. The ex-dividend date of this dividend was Monday, June 2nd. ManpowerGroup's dividend payout ratio is presently 62.61%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MAN shares. Barclays raised ManpowerGroup from an "underweight" rating to an "equal weight" rating and cut their price objective for the company from $55.00 to $50.00 in a report on Thursday, April 10th. UBS Group cut their price target 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. BMO Capital Markets cut their price target on shares of ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Wall Street Zen upgraded shares of ManpowerGroup from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. cut their price objective on ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, ManpowerGroup has an average rating of "Hold" and an average price target of $50.60.

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.