Boston Partners Cuts Holdings in ManpowerGroup (MAN)
Boston Partners decreased its position in ManpowerGroup (NYSE:MAN) by 1.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,640,865 shares of the business services provider’s stock after selling 56,743 shares during the period. Boston Partners owned about 5.46% of ManpowerGroup worth $428,967,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAN. FMR LLC bought a new stake in ManpowerGroup in the 1st quarter valued at approximately $7,065,000. Teachers Advisors LLC lifted its stake in ManpowerGroup by 4.1% in the 1st quarter. Teachers Advisors LLC now owns 222,883 shares of the business services provider’s stock valued at $22,861,000 after acquiring an additional 8,833 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of ManpowerGroup by 2.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 43,814 shares of the business services provider’s stock worth $4,494,000 after purchasing an additional 1,138 shares during the last quarter. Xact Kapitalforvaltning AB increased its position in shares of ManpowerGroup by 16.6% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 23,360 shares of the business services provider’s stock worth $2,608,000 after purchasing an additional 3,325 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of ManpowerGroup by 3.7% during the 2nd quarter. Capstone Asset Management Co. now owns 8,389 shares of the business services provider’s stock worth $937,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.
Several research analysts have weighed in on MAN shares. Zacks Investment Research raised ManpowerGroup from a “hold” rating to a “buy” rating and set a $138.00 price target on the stock in a research report on Wednesday, October 18th. BMO Capital Markets reaffirmed a “buy” rating and set a $124.00 price target on shares of ManpowerGroup in a research report on Friday, September 1st. BidaskClub lowered ManpowerGroup from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Credit Suisse Group reaffirmed a “neutral” rating and set a $126.00 price target (up previously from $111.00) on shares of ManpowerGroup in a research report on Monday, October 23rd. Finally, Nomura boosted their price target on ManpowerGroup from $127.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. ManpowerGroup presently has a consensus rating of “Hold” and an average target price of $126.71.
In other ManpowerGroup news, EVP Mara E. Swan sold 6,731 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $123.19, for a total transaction of $829,191.89. Following the transaction, the executive vice president now owns 31,416 shares in the company, valued at $3,870,137.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mara E. Swan sold 2,393 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $109.18, for a total value of $261,267.74. Following the transaction, the executive vice president now owns 27,078 shares in the company, valued at approximately $2,956,376.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,849 shares of company stock worth $2,048,051. Corporate insiders own 0.87% of the company’s stock.
ManpowerGroup (NYSE:MAN) traded up $0.69 on Wednesday, reaching $125.79. The company had a trading volume of 56,039 shares, compared to its average volume of 538,766. ManpowerGroup has a twelve month low of $77.76 and a twelve month high of $126.26. The company has a market cap of $8,292.84, a P/E ratio of 18.54 and a beta of 1.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.29 and a quick ratio of 1.29.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Friday, October 20th. The business services provider reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.08. ManpowerGroup had a return on equity of 17.80% and a net margin of 2.24%. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter in the prior year, the company posted $1.87 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. sell-side analysts predict that ManpowerGroup will post 6.9 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, November 30th. This is an increase from ManpowerGroup’s previous quarterly dividend of $0.86. ManpowerGroup’s dividend payout ratio (DPR) is 27.68%.
ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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