Natixis Advisors LLC Buys 77,712 Shares of ManpowerGroup Inc. (NYSE:MAN)

Key Points

• Natixis Advisors LLC increased its stake in ManpowerGroup Inc. by 69.1% during the first quarter, owning approximately 0.41% of the company valued at $11 million.
• ManpowerGroup shares fell 1.6% to $38.63 with a market capitalization of $1.79 billion, after trading below its 12-month high of $75.57.
• Analyst ratings for ManpowerGroup show a consensus of "Hold" with a price target of $48.20, reflecting recent adjustments in price objectives from several financial institutions.

Natixis Advisors LLC grew its stake in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 69.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,147 shares of the business services provider's stock after acquiring an additional 77,712 shares during the quarter. Natixis Advisors LLC owned 0.41% of ManpowerGroup worth $11,005,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bayforest Capital Ltd acquired a new stake in shares of ManpowerGroup during the first quarter worth $349,000. XTX Topco Ltd increased its holdings in ManpowerGroup by 78.2% during the 1st quarter. XTX Topco Ltd now owns 32,738 shares of the business services provider's stock worth $1,895,000 after purchasing an additional 14,363 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ManpowerGroup by 8.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,291 shares of the business services provider's stock valued at $654,000 after purchasing an additional 916 shares during the period. Cetera Investment Advisers lifted its holdings in shares of ManpowerGroup by 16.5% in the first quarter. Cetera Investment Advisers now owns 9,748 shares of the business services provider's stock valued at $564,000 after purchasing an additional 1,381 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of ManpowerGroup by 9.7% in the first quarter. Royce & Associates LP now owns 68,027 shares of the business services provider's stock valued at $3,937,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors own 98.03% of the company's stock.

Analysts Set New Price Targets

MAN has been the topic of a number of recent research reports. Wall Street Zen raised ManpowerGroup from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Barclays upgraded shares of ManpowerGroup from an "underweight" rating to an "equal weight" rating and lowered their price objective for the company from $55.00 to $50.00 in a report on Thursday, April 10th. BMO Capital Markets reduced 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. Truist Financial lowered their price target 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. Finally, JPMorgan Chase & Co. cut their price target on shares of ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, ManpowerGroup has a consensus rating of "Hold" and a consensus target price of $48.20.

ManpowerGroup Trading Up 1.5%

MAN stock traded up $0.59 during trading on Tuesday, hitting $39.25. The company had a trading volume of 781,420 shares, compared to its average volume of 1,144,902. The stock has a market cap of $1.82 billion, a PE ratio of -103.27 and a beta of 1.08. The business has a 50-day moving average of $42.11 and a 200-day moving average of $48.87. The company has a current ratio of 0.98, a quick ratio of 1.12 and a debt-to-equity ratio of 0.24. ManpowerGroup Inc. has a one year low of $37.99 and a one year high of $75.57.

ManpowerGroup (NYSE:MAN - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The business services provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.09. The company had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.34 billion. ManpowerGroup had a negative net margin of 0.09% and a positive return on equity of 7.98%. ManpowerGroup's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 earnings per share. Research analysts predict that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

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.