Millennium Management LLC Grows Position in ManpowerGroup Inc. (NYSE:MAN)

Millennium Management LLC raised its holdings in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 137.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 811,595 shares of the business services provider's stock after purchasing an additional 469,184 shares during the quarter. Millennium Management LLC owned 1.73% of ManpowerGroup worth $46,845,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Colonial Trust Co SC bought a new stake in ManpowerGroup during the 4th quarter valued at $28,000. WFA Asset Management Corp purchased a new position in shares of ManpowerGroup during the fourth quarter valued at $35,000. SRS Capital Advisors Inc. raised its holdings in shares of ManpowerGroup by 171.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 890 shares of the business services provider's stock valued at $51,000 after acquiring an additional 562 shares in the last quarter. Blue Trust Inc. lifted its stake in ManpowerGroup by 147.9% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the business services provider's stock worth $75,000 after acquiring an additional 778 shares during the period. Finally, R Squared Ltd bought a new position in ManpowerGroup during the 4th quarter worth about $95,000. 98.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MAN. UBS Group reduced their price target on shares of ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. BMO Capital Markets lowered their target price on ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating for the company in a report on Monday, April 21st. Barclays raised ManpowerGroup from an "underweight" rating to an "equal weight" rating and dropped their target price for the company from $55.00 to $50.00 in a research report on Thursday, April 10th. Truist Financial reduced their price target on ManpowerGroup from $55.00 to $48.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. decreased their price objective on ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, ManpowerGroup has a consensus rating of "Hold" and a consensus price target of $57.50.

ManpowerGroup Stock Down 2.5%

MAN traded down $1.10 during trading on Wednesday, hitting $42.78. The stock had a trading volume of 853,373 shares, compared to its average volume of 665,407. The stock has a 50 day simple moving average of $49.01 and a two-hundred day simple moving average of $55.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.15 and a current ratio of 1.12. ManpowerGroup Inc. has a twelve month low of $38.10 and a twelve month high of $78.22. The company has a market capitalization of $1.98 billion, a PE ratio of 14.31 and a beta of 1.09.

ManpowerGroup (NYSE:MAN - Get Free Report) last issued its quarterly earnings data 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). ManpowerGroup had a net margin of 0.81% and a return on equity of 10.19%. The business had revenue of $698.30 million for the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter in the prior year, the company posted $0.94 EPS. On average, research analysts predict that ManpowerGroup Inc. will post 4.23 earnings per share for the current year.

ManpowerGroup Cuts Dividend

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