ManpowerGroup Inc. (NYSE:MAN) Holdings Lifted by Voloridge Investment Management LLC

Voloridge Investment Management LLC boosted its stake in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 84.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 548,389 shares of the business services provider's stock after purchasing an additional 250,791 shares during the period. Voloridge Investment Management LLC owned approximately 1.17% of ManpowerGroup worth $31,653,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vident Advisory LLC raised its stake in shares of ManpowerGroup by 2.8% during the fourth quarter. Vident Advisory LLC now owns 10,708 shares of the business services provider's stock valued at $618,000 after purchasing an additional 290 shares during the period. Twin Capital Management Inc. grew its holdings in ManpowerGroup by 1.7% during the 4th quarter. Twin Capital Management Inc. now owns 25,896 shares of the business services provider's stock valued at $1,495,000 after purchasing an additional 439 shares in the last quarter. Bank of Nova Scotia increased its stake in ManpowerGroup by 8.8% during the 4th quarter. Bank of Nova Scotia now owns 5,676 shares of the business services provider's stock worth $328,000 after buying an additional 458 shares during the period. Colonial Trust Co SC acquired a new position in ManpowerGroup in the 4th quarter worth $28,000. Finally, Synovus Financial Corp lifted its holdings in ManpowerGroup by 6.4% in the 4th quarter. Synovus Financial Corp now owns 8,428 shares of the business services provider's stock worth $486,000 after buying an additional 506 shares in the last quarter. 98.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on MAN. Barclays upgraded ManpowerGroup from an "underweight" rating to an "equal weight" rating and dropped their price objective for the stock from $55.00 to $50.00 in a report on Thursday, April 10th. JPMorgan Chase & Co. dropped their price target on shares of ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Wall Street Zen downgraded shares of ManpowerGroup from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. UBS Group cut their price objective on ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, Truist Financial decreased their target price on ManpowerGroup from $55.00 to $48.00 and set a "hold" rating for the company in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $57.50.

ManpowerGroup Stock Performance

Shares of NYSE:MAN traded up $0.58 during trading on Tuesday, reaching $42.65. 84,513 shares of the company's stock traded hands, compared to its average volume of 667,242. The stock has a market capitalization of $1.97 billion, a P/E ratio of 14.26 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 50 day moving average of $47.59 and a 200-day moving average of $55.09. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.15.

ManpowerGroup (NYSE:MAN - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The business services provider reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.08). The company had revenue of $698.30 million for the quarter, compared to analyst estimates 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 company posted $0.94 earnings per share. On average, equities analysts expect that ManpowerGroup Inc. will post 4.23 EPS for the current year.

ManpowerGroup Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.72 dividend. This represents a yield of 3.5%. The ex-dividend date is Monday, June 2nd. ManpowerGroup's payout ratio is 62.61%.

ManpowerGroup 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.