SeaTown Holdings Pte. Ltd. Grows Stock Holdings in ManpowerGroup Inc. (NYSE:MAN)
SeaTown Holdings Pte. Ltd. boosted its holdings in ManpowerGroup Inc. (NYSE:MAN) by 62.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,797 shares of the business services provider’s stock after buying an additional 23,428 shares during the period. SeaTown Holdings Pte. Ltd. owned approximately 0.10% of ManpowerGroup worth $5,873,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. CWM LLC grew its position in shares of ManpowerGroup by 114.4% during the 2nd quarter. CWM LLC now owns 373 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 199 shares in the last quarter. Destination Wealth Management purchased a new position in shares of ManpowerGroup during the 2nd quarter valued at $58,000. Machina Capital S.A.S. grew its position in shares of ManpowerGroup by 273.5% during the 2nd quarter. Machina Capital S.A.S. now owns 1,042 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 763 shares in the last quarter. First Mercantile Trust Co. purchased a new position in shares of ManpowerGroup during the 1st quarter valued at $123,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of ManpowerGroup by 162.2% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,455 shares of the business services provider’s stock valued at $141,000 after purchasing an additional 900 shares in the last quarter. Institutional investors and hedge funds own 91.24% of the company’s stock.
NYSE:MAN traded up $1.51 during midday trading on Tuesday, hitting $87.88. The company had a trading volume of 8,629 shares, compared to its average volume of 573,106. ManpowerGroup Inc. has a 52-week low of $61.57 and a 52-week high of $97.96. The stock has a fifty day simple moving average of $91.67. The firm has a market cap of $5.25 billion, a P/E ratio of 9.81, a PEG ratio of 3.68 and a beta of 1.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.46 and a quick ratio of 1.46.
ManpowerGroup announced that its board has authorized a stock repurchase program on Friday, August 2nd that allows the company to repurchase 6,000,000 shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
A number of research analysts have recently commented on the stock. BMO Capital Markets boosted their price target on shares of ManpowerGroup to $93.00 and gave the company a “market perform” rating in a research report on Monday, April 22nd. ValuEngine upgraded shares of ManpowerGroup from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Bank of America reduced their price target on shares of ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada reduced their price target on shares of ManpowerGroup from $114.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of ManpowerGroup from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. ManpowerGroup presently has an average rating of “Hold” and an average price target of $93.30.
ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands.
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