Point72 Asset Management L.P. decreased its holdings in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 45.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,320 shares of the business services provider's stock after selling 147,546 shares during the period. Point72 Asset Management L.P. owned about 0.38% of ManpowerGroup worth $10,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of MAN. AQR Capital Management LLC grew its position in shares of ManpowerGroup by 45.8% during the 4th quarter. AQR Capital Management LLC now owns 2,262,265 shares of the business services provider's stock valued at $130,125,000 after acquiring an additional 711,043 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in shares of ManpowerGroup during the 4th quarter valued at $34,200,000. Norges Bank purchased a new position in shares of ManpowerGroup during the 4th quarter valued at $27,706,000. Millennium Management LLC lifted its stake in shares of ManpowerGroup by 137.0% during the 4th quarter. Millennium Management LLC now owns 811,595 shares of the business services provider's stock valued at $46,845,000 after buying an additional 469,184 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of ManpowerGroup by 194.3% during the 4th quarter. Barclays PLC now owns 455,803 shares of the business services provider's stock valued at $26,308,000 after buying an additional 300,917 shares in the last quarter. Institutional investors own 98.03% of the company's stock.
ManpowerGroup Price Performance
MAN stock traded down $0.94 during mid-day trading on Friday, hitting $42.09. The company had a trading volume of 578,535 shares, compared to its average volume of 669,550. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 14.08 and a beta of 1.09. ManpowerGroup Inc. has a 12-month low of $38.10 and a 12-month high of $78.22. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $47.95 and a 200 day moving average price of $55.32.
ManpowerGroup (NYSE:MAN - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $3.94 billion. ManpowerGroup had a return on equity of 10.19% and a net margin of 0.81%. During the same quarter in the previous year, the firm earned $0.94 EPS. On average, research analysts anticipate that ManpowerGroup Inc. will post 4.23 earnings per share for the current year.
ManpowerGroup Cuts Dividend
The firm 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. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, June 2nd. ManpowerGroup's dividend payout ratio is 62.61%.
Analyst Ratings Changes
A number of research analysts recently weighed in on MAN shares. JPMorgan Chase & Co. lowered their target price on shares of ManpowerGroup from $65.00 to $50.00 and set a "neutral" 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. Truist Financial lowered 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. BMO Capital Markets lowered their target price on shares of ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Finally, UBS Group lowered their target price on shares of ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $57.50.
Read Our Latest Stock Analysis on ManpowerGroup
About ManpowerGroup
(
Free Report)
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.
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