Raymond James Financial Inc. Makes New $875,000 Investment in ManpowerGroup Inc. (NYSE:MAN)

Raymond James Financial Inc. purchased a new stake in ManpowerGroup Inc. (NYSE:MAN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 15,166 shares of the business services provider's stock, valued at approximately $875,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MAN. Harbor Capital Advisors Inc. grew its holdings in ManpowerGroup by 0.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 47,562 shares of the business services provider's stock worth $2,745,000 after purchasing an additional 234 shares during the period. Twin Capital Management Inc. boosted its stake in shares of ManpowerGroup by 1.7% during the 4th quarter. Twin Capital Management Inc. now owns 25,896 shares of the business services provider's stock worth $1,495,000 after acquiring an additional 439 shares during the period. Bank of Nova Scotia increased its holdings in shares of 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 acquiring an additional 458 shares during the last quarter. KBC Group NV raised its stake in ManpowerGroup by 1.0% in the 4th quarter. KBC Group NV now owns 54,109 shares of the business services provider's stock valued at $3,123,000 after acquiring an additional 536 shares during the period. Finally, Alexander Randolph Advisory Inc. lifted its holdings in ManpowerGroup by 1.7% during the 4th quarter. Alexander Randolph Advisory Inc. now owns 33,148 shares of the business services provider's stock valued at $1,913,000 after purchasing an additional 545 shares during the last quarter. Institutional investors own 98.03% of the company's stock.

Analyst Ratings Changes

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

ManpowerGroup Price Performance

Shares of NYSE MAN traded up $0.06 during midday trading on Friday, reaching $41.47. The company's stock had a trading volume of 669,413 shares, compared to its average volume of 649,812. The business's 50 day moving average price is $51.65 and its two-hundred day moving average price is $56.91. ManpowerGroup Inc. has a fifty-two week low of $38.10 and a fifty-two week high of $78.87. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.15 and a current ratio of 1.12. The company has a market cap of $1.94 billion, a P/E ratio of 13.87 and a beta of 1.09.

ManpowerGroup (NYSE:MAN - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The business services provider reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.08). ManpowerGroup had a return on equity of 10.19% and a net margin of 0.81%. The company had revenue of $698.30 million during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the business posted $0.94 EPS. On average, analysts forecast that ManpowerGroup Inc. will post 4.23 EPS for the current fiscal year.

ManpowerGroup Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.72 per share. The ex-dividend date is Monday, June 2nd. This represents a yield of 3.5%. ManpowerGroup's dividend payout ratio is currently 133.91%.

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.