ManpowerGroup (NYSE:MAN) Stake Boosted by Boston Partners
Boston Partners boosted its position in ManpowerGroup (NYSE:MAN) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 3,697,608 shares of the business services provider’s stock after buying an additional 119,340 shares during the period. Boston Partners owned approximately 0.05% of ManpowerGroup worth $412,838,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in ManpowerGroup during the first quarter worth approximately $101,000. IFP Advisors Inc raised its stake in shares of ManpowerGroup by 14.1% in the second quarter. IFP Advisors Inc now owns 941 shares of the business services provider’s stock worth $105,000 after buying an additional 116 shares during the last quarter. First Quadrant L P CA bought a new stake in shares of ManpowerGroup during the second quarter worth $123,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of ManpowerGroup by 31.4% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,255 shares of the business services provider’s stock worth $129,000 after buying an additional 300 shares during the last quarter. Finally, Exane Derivatives raised its stake in shares of ManpowerGroup by 166.7% in the second quarter. Exane Derivatives now owns 1,379 shares of the business services provider’s stock worth $154,000 after buying an additional 862 shares during the last quarter. 93.74% of the stock is owned by hedge funds and other institutional investors.
Shares of ManpowerGroup (MAN) opened at 108.84 on Thursday. ManpowerGroup has a one year low of $67.30 and a one year high of $119.59. The company’s 50-day moving average is $110.92 and its 200-day moving average is $103.20. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 16.65 and a beta of 1.39.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Monday, July 24th. The business services provider reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by $0.01. ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the business posted $1.60 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts predict that ManpowerGroup will post $6.75 EPS for the current year.
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MAN has been the subject of a number of research analyst reports. BidaskClub lowered shares of ManpowerGroup from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Tuesday, July 4th. Credit Suisse Group reiterated a “neutral” rating and set a $111.00 price objective (up previously from $106.00) on shares of ManpowerGroup in a report on Tuesday, July 25th. Northcoast Research reiterated a “neutral” rating on shares of ManpowerGroup in a report on Monday, July 17th. Finally, BMO Capital Markets lifted their price objective on shares of ManpowerGroup from $113.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, July 14th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $102.71.
In other ManpowerGroup news, SVP Richard Buchband sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $109.00, for a total transaction of $136,250.00. Following the sale, the senior vice president now owns 3,884 shares of the company’s stock, valued at $423,356. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Darryl Green sold 76,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $105.83, for a total transaction of $8,043,080.00. Following the sale, the chief operating officer now directly owns 36,454 shares in the company, valued at approximately $3,857,926.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,715 shares of company stock worth $12,904,283. 0.87% of the stock is owned by corporate insiders.
ManpowerGroup Company Profile
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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