Victory Capital Management Inc. Sells 18,631 Shares of ManpowerGroup Inc. (NYSE:MAN)

Victory Capital Management Inc. cut its position in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 4.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 413,977 shares of the business services provider's stock after selling 18,631 shares during the quarter. Victory Capital Management Inc. owned about 0.89% of ManpowerGroup worth $23,961,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC acquired a new position in ManpowerGroup in the 4th quarter worth about $28,000. Fifth Third Bancorp boosted its holdings in ManpowerGroup by 48.6% in the first quarter. Fifth Third Bancorp now owns 743 shares of the business services provider's stock worth $43,000 after acquiring an additional 243 shares in the last quarter. GAMMA Investing LLC boosted its holdings in ManpowerGroup by 190.6% in the first quarter. GAMMA Investing LLC now owns 744 shares of the business services provider's stock worth $43,000 after acquiring an additional 488 shares in the last quarter. UMB Bank n.a. boosted its holdings in 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 acquiring an additional 511 shares in the last quarter. Finally, WFA Asset Management Corp lifted its holdings in shares of ManpowerGroup by 129.3% in the first 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. 98.03% of the stock is owned by institutional investors and hedge funds.

ManpowerGroup Stock Down 2.5%

MAN stock opened at $42.18 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.98 and a quick ratio of 1.12. ManpowerGroup Inc. has a 1-year low of $37.99 and a 1-year high of $77.85. The firm has a fifty day moving average price of $42.17 and a two-hundred day moving average price of $49.95. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -110.98 and a beta of 1.07.

ManpowerGroup (NYSE:MAN - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The business services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.09. ManpowerGroup had a negative net margin of 0.09% and a positive return on equity of 7.98%. The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The firm's revenue was down .5% compared to the same quarter last year. Research analysts predict 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 was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.72 dividend. The ex-dividend date was Monday, June 2nd. This represents a dividend yield of 3.5%. ManpowerGroup's dividend payout ratio is presently -378.95%.

Analyst Upgrades and Downgrades

MAN has been the subject of several research analyst reports. BMO Capital Markets dropped their price objective on ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. cut their price target on ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Truist Financial lowered their price objective on ManpowerGroup from $55.00 to $48.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Barclays raised ManpowerGroup from an "underweight" rating to an "equal weight" rating and lowered their price target for the company from $55.00 to $50.00 in a report on Thursday, April 10th. Finally, Wall Street Zen raised shares of ManpowerGroup from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $48.20.

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.

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