Pallas Capital Advisors LLC Acquires New Position in ManpowerGroup Inc. (NYSE:MAN)

Pallas Capital Advisors LLC purchased a new position in ManpowerGroup Inc. (NYSE:MAN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,090 shares of the business services provider's stock, valued at approximately $989,000.

A number of other institutional investors have also recently made changes to their positions in the company. Colonial Trust Co SC purchased a new stake in ManpowerGroup during the 4th quarter valued at $28,000. SRS Capital Advisors Inc. lifted its stake in shares of ManpowerGroup by 171.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 890 shares of the business services provider's stock worth $51,000 after purchasing an additional 562 shares during the period. UMB Bank n.a. boosted its holdings in shares of ManpowerGroup by 131.7% in the first quarter. UMB Bank n.a. now owns 899 shares of the business services provider's stock worth $52,000 after buying an additional 511 shares during the last quarter. WFA Asset Management Corp grew its position in ManpowerGroup by 129.3% during the first quarter. WFA Asset Management Corp now owns 1,376 shares of the business services provider's stock valued at $80,000 after buying an additional 776 shares during the period. Finally, Curat Global LLC bought a new stake in ManpowerGroup during the first quarter valued at approximately $85,000. Hedge funds and other institutional investors own 98.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MAN shares. BMO Capital Markets cut their price objective on shares of ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. decreased their price objective 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. Truist Financial cut their price target on ManpowerGroup from $55.00 to $48.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Barclays raised ManpowerGroup from an "underweight" rating to an "equal weight" rating and decreased their price target for the company from $55.00 to $50.00 in a report on Thursday, April 10th. Finally, UBS Group dropped their price objective on ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $50.60.

ManpowerGroup Price Performance

Shares of MAN stock traded down $2.55 during trading hours on Friday, hitting $40.32. The stock had a trading volume of 786,969 shares, compared to its average volume of 694,173. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.15. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 13.48 and a beta of 1.08. ManpowerGroup Inc. has a one year low of $38.10 and a one year high of $78.22. The stock's 50-day moving average price is $43.40 and its two-hundred day moving average price is $53.08.

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

ManpowerGroup Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, June 16th. Shareholders 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 yield of 3.5%. ManpowerGroup's dividend payout ratio (DPR) is currently 62.61%.

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.