New York State Common Retirement Fund Grows Position in ManpowerGroup Inc. (NYSE:MAN)

New York State Common Retirement Fund raised its stake in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 336.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177,103 shares of the business services provider's stock after buying an additional 136,532 shares during the period. New York State Common Retirement Fund owned about 0.38% of ManpowerGroup worth $10,251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MAN. Colonial Trust Co SC bought a new position in ManpowerGroup during the 4th quarter valued at approximately $28,000. Fifth Third Bancorp increased its position in ManpowerGroup by 48.6% during the 1st quarter. Fifth Third Bancorp now owns 743 shares of the business services provider's stock valued at $43,000 after purchasing an additional 243 shares during the period. GAMMA Investing LLC raised its holdings in ManpowerGroup by 190.6% in the 1st quarter. GAMMA Investing LLC now owns 744 shares of the business services provider's stock worth $43,000 after purchasing an additional 488 shares in the last quarter. UMB Bank n.a. lifted its position in shares of ManpowerGroup by 131.7% in the 1st quarter. UMB Bank n.a. now owns 899 shares of the business services provider's stock worth $52,000 after purchasing an additional 511 shares during the period. Finally, WFA Asset Management Corp boosted its stake in shares of ManpowerGroup by 129.3% during the 1st quarter. WFA Asset Management Corp now owns 1,376 shares of the business services provider's stock valued at $80,000 after purchasing an additional 776 shares in the last quarter. Hedge funds and other institutional investors own 98.03% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MAN. JPMorgan Chase & Co. lowered their price objective 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. Truist Financial reduced their price target on ManpowerGroup from $55.00 to $48.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. UBS Group raised their price objective on ManpowerGroup from $42.00 to $45.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Wall Street Zen raised shares of ManpowerGroup from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Barclays upgraded shares of ManpowerGroup from an "underweight" rating to an "equal weight" rating and lowered their target price for the company from $55.00 to $50.00 in a report on Thursday, April 10th. Six 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 $48.20.

ManpowerGroup Stock Up 5.6%

Shares of MAN traded up $2.35 on Tuesday, hitting $44.47. 1,010,292 shares of the stock traded hands, compared to its average volume of 749,503. ManpowerGroup Inc. has a one year low of $37.99 and a one year high of $77.85. The company has a market capitalization of $2.06 billion, a PE ratio of -117.01 and a beta of 1.07. The business has a 50 day simple moving average of $42.17 and a 200 day simple moving average of $49.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.12 and a current ratio of 0.98.

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

ManpowerGroup Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.72 per share. This represents a yield of 3.5%. The ex-dividend date was Monday, June 2nd. ManpowerGroup's dividend payout ratio (DPR) is currently -378.95%.

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.