Rhumbline Advisers cut its position in shares of ManpowerGroup Inc. (NYSE:MAN) by 1.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,558 shares of the business services provider’s stock after selling 1,708 shares during the quarter. Rhumbline Advisers owned 0.18% of ManpowerGroup worth $10,117,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MAN. Wedge Capital Management L L P NC grew its holdings in shares of ManpowerGroup by 81.6% during the 1st quarter. Wedge Capital Management L L P NC now owns 420,044 shares of the business services provider’s stock worth $48,347,000 after acquiring an additional 188,723 shares during the period. Stanley Laman Group Ltd. grew its holdings in shares of ManpowerGroup by 14.5% during the 1st quarter. Stanley Laman Group Ltd. now owns 6,018 shares of the business services provider’s stock worth $693,000 after acquiring an additional 761 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of ManpowerGroup by 11.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 254,160 shares of the business services provider’s stock worth $29,254,000 after acquiring an additional 25,351 shares during the period. Westpac Banking Corp grew its holdings in shares of ManpowerGroup by 36.3% during the 1st quarter. Westpac Banking Corp now owns 5,040 shares of the business services provider’s stock worth $580,000 after acquiring an additional 1,343 shares during the period. Finally, Mackay Shields LLC purchased a new position in shares of ManpowerGroup during the 1st quarter worth approximately $9,523,000. 91.26% of the stock is owned by institutional investors.

ManpowerGroup stock opened at $89.26 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $5.86 billion, a P/E ratio of 10.96 and a beta of 1.23. ManpowerGroup Inc. has a twelve month low of $81.85 and a twelve month high of $136.93.

ManpowerGroup (NYSE:MAN) last posted its quarterly earnings results on Friday, July 20th. The business services provider reported $2.35 earnings per share for the quarter, hitting the consensus estimate of $2.35. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.88 billion. ManpowerGroup had a return on equity of 19.37% and a net margin of 2.67%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.72 EPS. analysts expect that ManpowerGroup Inc. will post 8.94 EPS for the current fiscal year.

ManpowerGroup announced that its Board of Directors has approved a stock repurchase plan on Friday, August 3rd that allows the company to buyback 6,000,000 outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

In related news, Director Ulice Payne, Jr. sold 1,350 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $89.43, for a total value of $120,730.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

A number of research analysts have weighed in on the company. Zacks Investment Research downgraded ManpowerGroup from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Credit Suisse Group started coverage on ManpowerGroup in a research note on Friday, August 10th. They issued an “outperform” rating and a $115.00 price target on the stock. ValuEngine downgraded ManpowerGroup from a “sell” rating to a “strong sell” rating in a research note on Friday, August 3rd. SunTrust Banks restated a “hold” rating and issued a $100.00 price target on shares of ManpowerGroup in a research note on Monday, July 23rd. Finally, BMO Capital Markets cut their price target on ManpowerGroup from $107.00 to $96.00 and set an “outperform” rating on the stock in a research note on Monday, July 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $113.70.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The company's recruitment service portfolio includes permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions.

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Institutional Ownership by Quarter for ManpowerGroup (NYSE:MAN)

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