Point72 Hong Kong Ltd Buys 76,602 Shares of ManpowerGroup Inc. (NYSE:MAN)

Point72 Hong Kong Ltd increased its stake in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 578.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 89,842 shares of the business services provider's stock after purchasing an additional 76,602 shares during the period. Point72 Hong Kong Ltd owned 0.19% of ManpowerGroup worth $5,186,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp increased its stake in ManpowerGroup by 24.0% in the 4th quarter. Northern Trust Corp now owns 437,495 shares of the business services provider's stock worth $25,252,000 after acquiring an additional 84,741 shares during the last quarter. Merit Financial Group LLC bought a new position in ManpowerGroup in the 4th quarter worth about $241,000. AlphaQuest LLC increased its stake in ManpowerGroup by 4,364.3% in the 4th 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 during the last quarter. Bank of New York Mellon Corp increased its stake in ManpowerGroup by 34.5% in the 4th 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 during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in ManpowerGroup by 1,373.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 53,473 shares of the business services provider's stock worth $3,086,000 after acquiring an additional 49,845 shares during the last quarter. 98.03% of the stock is currently owned by institutional investors.

ManpowerGroup Price Performance

Shares of NYSE:MAN traded up $0.25 during trading on Tuesday, hitting $44.22. 187,009 shares of the company's stock were exchanged, compared to its average volume of 661,809. The business's 50-day simple moving average is $49.31 and its 200 day simple moving average is $55.85. ManpowerGroup Inc. has a 52-week low of $38.10 and a 52-week high of $78.22. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 14.78 and a beta of 1.09. 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 posted its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.44 earnings per share (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 the consensus estimate of $3.94 billion. ManpowerGroup had a net margin of 0.81% and a return on equity of 10.19%. During the same period in the previous year, the business earned $0.94 earnings per share. As a group, equities analysts predict that ManpowerGroup Inc. will post 4.23 EPS for the current year.

ManpowerGroup Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid 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 payout ratio is 62.61%.

Analyst Ratings Changes

MAN has been the topic of several recent research reports. Barclays upgraded ManpowerGroup from an "underweight" rating to an "equal weight" rating and reduced their price objective for the company from $55.00 to $50.00 in a research report on Thursday, April 10th. BMO Capital Markets lowered 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. Truist Financial decreased their price target on ManpowerGroup from $55.00 to $48.00 and set a "hold" rating for the company in a research note on Monday, April 21st. UBS Group reduced their price objective on ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. reduced their price target on ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating for the company in a research report 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $57.50.

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.