Canada Pension Plan Investment Board Sells 34,200 Shares of ManpowerGroup (MAN)
Canada Pension Plan Investment Board lessened its stake in ManpowerGroup (NYSE:MAN) by 13.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216,800 shares of the business services provider’s stock after selling 34,200 shares during the period. Canada Pension Plan Investment Board owned about 0.32% of ManpowerGroup worth $25,543,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MAN. AJO LP lifted its stake in shares of ManpowerGroup by 30.9% in the 2nd quarter. AJO LP now owns 1,839,632 shares of the business services provider’s stock valued at $205,395,000 after acquiring an additional 434,069 shares during the last quarter. Acadian Asset Management LLC raised its position in ManpowerGroup by 45.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,335,628 shares of the business services provider’s stock valued at $149,121,000 after purchasing an additional 415,224 shares during the last quarter. American Century Companies Inc. raised its position in ManpowerGroup by 736.2% during the 2nd quarter. American Century Companies Inc. now owns 348,282 shares of the business services provider’s stock valued at $38,886,000 after purchasing an additional 306,630 shares during the last quarter. Vanguard Group Inc. raised its position in ManpowerGroup by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,286,080 shares of the business services provider’s stock valued at $701,840,000 after purchasing an additional 267,064 shares during the last quarter. Finally, State Treasurer State of Michigan raised its position in ManpowerGroup by 794.1% during the 3rd quarter. State Treasurer State of Michigan now owns 247,030 shares of the business services provider’s stock valued at $29,105,000 after purchasing an additional 219,400 shares during the last quarter. 94.93% of the stock is owned by institutional investors.
A number of research analysts have commented on the company. Zacks Investment Research raised ManpowerGroup from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Friday, October 27th. Argus increased their target price on ManpowerGroup from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Credit Suisse Group reissued a “neutral” rating and issued a $126.00 target price (up previously from $111.00) on shares of ManpowerGroup in a research report on Monday, October 23rd. Nomura increased their target price on ManpowerGroup from $127.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Finally, SunTrust Banks, Inc. reissued a “hold” rating and issued a $107.00 target price on shares of ManpowerGroup in a research report on Friday, October 20th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $126.71.
Shares of ManpowerGroup (MAN) opened at $125.14 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.29 and a current ratio of 1.29. ManpowerGroup has a 52 week low of $76.38 and a 52 week high of $126.05. The company has a market capitalization of $8,349.84, a price-to-earnings ratio of 18.67 and a beta of 1.44.
ManpowerGroup (NYSE:MAN) last issued its earnings results on Friday, October 20th. The business services provider reported $2.04 EPS for the quarter, beating the consensus estimate of $1.96 by $0.08. ManpowerGroup had a return on equity of 17.80% and a net margin of 2.24%. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same period last year, the business posted $1.87 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. equities research analysts anticipate that ManpowerGroup will post 6.9 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders 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 dividend yield of 2.97%. This is a boost from ManpowerGroup’s previous quarterly dividend of $0.86. The ex-dividend date is Thursday, November 30th. ManpowerGroup’s dividend payout ratio is presently 27.68%.
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In related news, Director Gina Boswell sold 7,725 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $123.96, for a total value of $957,591.00. Following the transaction, the director now directly owns 6,601 shares of the company’s stock, valued at approximately $818,259.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mara E. Swan sold 2,393 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $109.18, for a total value of $261,267.74. Following the completion of the transaction, the executive vice president now directly owns 27,078 shares in the company, valued at $2,956,376.04. The disclosure for this sale can be found here. Insiders have sold a total of 16,849 shares of company stock worth $2,048,051 over the last three months. Insiders own 0.87% of the company’s stock.
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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