Voya Investment Management LLC Sells 47,634 Shares of ManpowerGroup Inc. (NYSE:MAN)

Voya Investment Management LLC decreased its holdings in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 89.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,840 shares of the business services provider's stock after selling 47,634 shares during the period. Voya Investment Management LLC's holdings in ManpowerGroup were worth $337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MAN. Merit Financial Group LLC purchased a new stake in ManpowerGroup during the 4th quarter worth about $241,000. AlphaQuest LLC increased its position in shares of ManpowerGroup by 4,364.3% during the fourth quarter. AlphaQuest LLC now owns 27,991 shares of the business services provider's stock valued at $1,616,000 after buying an additional 27,364 shares during the period. Bank of New York Mellon Corp lifted 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 buying an additional 191,901 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ManpowerGroup by 1.2% in the third quarter. JPMorgan Chase & Co. now owns 162,534 shares of the business services provider's stock worth $11,950,000 after buying an additional 1,999 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of ManpowerGroup by 1,373.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 53,473 shares of the business services provider's stock valued at $3,086,000 after acquiring an additional 49,845 shares during the period. Institutional investors own 98.03% of the company's stock.

ManpowerGroup Stock Up 0.1%

Shares of NYSE MAN opened at $41.47 on Monday. The stock has a market capitalization of $1.92 billion, a P/E ratio of 13.87 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 Inc. has a one year low of $38.10 and a one year high of $78.87. The firm's 50 day simple moving average is $51.33 and its two-hundred day simple moving average is $56.68.

ManpowerGroup (NYSE:MAN - Get Free Report) last issued its 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). The business had revenue of $698.30 million during the quarter, compared to analysts' expectations 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 business earned $0.94 EPS. As a group, analysts expect that ManpowerGroup Inc. will post 4.23 EPS for the current fiscal year.

ManpowerGroup Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a yield of 3.5%. ManpowerGroup's dividend payout ratio is currently 62.61%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays upgraded shares of ManpowerGroup from an "underweight" rating to an "equal weight" rating and lowered their target price for the stock from $55.00 to $50.00 in a research note on Thursday, April 10th. JPMorgan Chase & Co. lowered their price objective on ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Truist Financial reduced 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. UBS Group lowered their price target on ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. 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 research report on Monday, April 21st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $57.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.