Millennium Management LLC Buys 469,184 Shares of ManpowerGroup Inc. (NYSE:MAN)

Millennium Management LLC grew its position in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 137.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 811,595 shares of the business services provider's stock after purchasing an additional 469,184 shares during the period. Millennium Management LLC owned about 1.73% of ManpowerGroup worth $46,845,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MAN. Northern Trust Corp increased its position in shares of ManpowerGroup by 24.0% in the 4th quarter. Northern Trust Corp now owns 437,495 shares of the business services provider's stock valued at $25,252,000 after buying an additional 84,741 shares in the last quarter. Merit Financial Group LLC acquired a new position in ManpowerGroup in the fourth quarter valued at about $241,000. AlphaQuest LLC increased its holdings in shares of ManpowerGroup by 4,364.3% in the fourth quarter. AlphaQuest LLC now owns 27,991 shares of the business services provider's stock worth $1,616,000 after acquiring an additional 27,364 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of ManpowerGroup by 34.5% in the fourth quarter. Bank of New York Mellon Corp now owns 748,246 shares of the business services provider's stock worth $43,189,000 after acquiring an additional 191,901 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of ManpowerGroup by 1,373.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 53,473 shares of the business services provider's stock worth $3,086,000 after purchasing an additional 49,845 shares during the period. 98.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MAN has been the topic of several recent analyst reports. UBS Group cut their price objective on ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. cut their price target 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. BMO Capital Markets lowered 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. Barclays upgraded shares of 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. Finally, Truist Financial lowered their target price on ManpowerGroup from $55.00 to $48.00 and set a "hold" rating for the company in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $57.50.

ManpowerGroup Stock Up 0.1%

Shares of NYSE MAN traded up $0.04 during midday trading on Thursday, reaching $42.76. The company's stock had a trading volume of 103,402 shares, compared to its average volume of 664,342. The stock has a 50 day simple moving average of $48.66 and a 200-day simple moving average of $55.68. The company has a current ratio of 1.12, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 14.30 and a beta of 1.09. ManpowerGroup Inc. has a fifty-two week low of $38.10 and a fifty-two week high of $78.22.

ManpowerGroup (NYSE:MAN - Get Free Report) last released its 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). ManpowerGroup had a net margin of 0.81% and a return on equity of 10.19%. The business had revenue of $698.30 million during the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the business posted $0.94 EPS. Equities research analysts predict that ManpowerGroup Inc. will post 4.23 earnings per share for the current year.

ManpowerGroup Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.72 dividend. 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 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.