First Trust Advisors LP Has $20.95 Million Holdings in ManpowerGroup (MAN)
First Trust Advisors LP reduced its stake in ManpowerGroup (NYSE:MAN) by 22.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 177,785 shares of the business services provider’s stock after selling 50,128 shares during the quarter. First Trust Advisors LP owned 0.27% of ManpowerGroup worth $20,947,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. Northpointe Capital LLC grew its stake in shares of ManpowerGroup by 31.8% in the 3rd quarter. Northpointe Capital LLC now owns 35,699 shares of the business services provider’s stock valued at $4,206,000 after purchasing an additional 8,622 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of ManpowerGroup in the 3rd quarter valued at approximately $660,000. APG Asset Management N.V. lifted its holdings in shares of ManpowerGroup by 24.5% in the 3rd quarter. APG Asset Management N.V. now owns 957,439 shares of the business services provider’s stock valued at $112,805,000 after buying an additional 188,700 shares during the period. State Treasurer State of Michigan lifted its holdings in shares of ManpowerGroup by 794.1% in 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 buying an additional 219,400 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of ManpowerGroup by 27.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 288,398 shares of the business services provider’s stock valued at $33,980,000 after buying an additional 62,557 shares during the period. Institutional investors own 95.11% of the company’s stock.
ManpowerGroup (MAN) opened at $126.00 on Friday. The stock has a market capitalization of $8,408.48, a price-to-earnings ratio of 18.67 and a beta of 1.44. ManpowerGroup has a 1-year low of $76.38 and a 1-year high of $126.05. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.17.
ManpowerGroup (NYSE:MAN) last issued its quarterly earnings data on Friday, October 20th. The business services provider reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.08. The firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.41 billion. ManpowerGroup had a return on equity of 17.80% and a net margin of 2.24%. ManpowerGroup’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.87 earnings per share. analysts predict that ManpowerGroup will post 6.9 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.93 per share. The ex-dividend date is Thursday, November 30th. This is a boost from ManpowerGroup’s previous quarterly dividend of $0.86. This represents a $3.72 annualized dividend and a yield of 2.95%. ManpowerGroup’s payout ratio is currently 27.68%.
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MAN has been the subject of several recent analyst reports. BMO Capital Markets reissued a “buy” rating and issued a $124.00 price target on shares of ManpowerGroup in a report on Friday, September 1st. BidaskClub cut ManpowerGroup from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. Zacks Investment Research cut ManpowerGroup from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Credit Suisse Group reissued a “neutral” rating and issued a $126.00 price target (up from $111.00) on shares of ManpowerGroup in a report on Monday, October 23rd. Finally, Nomura raised their price target on ManpowerGroup from $127.00 to $134.00 and gave the company a “buy” rating in a report on Monday, October 23rd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $126.71.
In related news, Director Gina Boswell sold 7,725 shares of ManpowerGroup stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $123.96, for a total transaction of $957,591.00. Following the completion of the transaction, the director now directly owns 6,601 shares of the company’s stock, valued at $818,259.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mara E. Swan sold 2,393 shares of ManpowerGroup 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 transaction, the executive vice president now directly owns 27,078 shares of the company’s stock, valued at $2,956,376.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,849 shares of company stock valued at $2,048,051. 0.87% of the stock is currently owned by insiders.
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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