Westpac Banking Corp Has $439,000 Position in ManpowerGroup (MAN)
Westpac Banking Corp lowered its holdings in ManpowerGroup (NYSE:MAN) by 97.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,930 shares of the business services provider’s stock after selling 174,551 shares during the quarter. Westpac Banking Corp’s holdings in ManpowerGroup were worth $439,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. IFP Advisors Inc increased its stake in ManpowerGroup by 14.1% in the second quarter. IFP Advisors Inc now owns 941 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 116 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in ManpowerGroup in the first quarter valued at about $101,000. First Quadrant L P CA bought a new stake in ManpowerGroup in the second quarter valued at about $123,000. Exane Derivatives increased its stake in ManpowerGroup by 166.7% in the second quarter. Exane Derivatives now owns 1,379 shares of the business services provider’s stock valued at $154,000 after acquiring an additional 862 shares during the period. Finally, Gamco Investors INC. ET AL bought a new stake in ManpowerGroup in the second quarter valued at about $201,000. 93.72% of the stock is currently owned by institutional investors and hedge funds.
In other ManpowerGroup news, EVP Mara E. Swan sold 2,393 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were 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 approximately $2,956,376.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sriram Chandrashekar sold 19,912 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $105.39, for a total transaction of $2,098,525.68. Following the completion of the transaction, the executive vice president now directly owns 1,659 shares in the company, valued at $174,842.01. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,108 shares of company stock worth $13,165,550. Insiders own 0.87% of the company’s stock.
MAN has been the topic of a number of analyst reports. BMO Capital Markets reissued a “buy” rating and issued a $124.00 target price on shares of ManpowerGroup in a research note on Friday, September 1st. BidaskClub cut shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Credit Suisse Group reissued a “neutral” rating and issued a $111.00 target price (up previously from $106.00) on shares of ManpowerGroup in a research note on Tuesday, July 25th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $111.00 price objective (up from $104.00) on shares of ManpowerGroup in a research note on Friday, July 14th. Finally, Zacks Investment Research raised shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Tuesday, July 4th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $109.60.
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Shares of ManpowerGroup (NYSE:MAN) opened at 113.89 on Friday. The company has a market capitalization of $7.60 billion, a PE ratio of 17.42 and a beta of 1.38. ManpowerGroup has a 52 week low of $67.63 and a 52 week high of $119.59. The firm’s 50-day moving average is $109.39 and its 200 day moving average is $105.69.
ManpowerGroup (NYSE:MAN) last released its earnings results on Monday, July 24th. The business services provider reported $1.72 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.01). ManpowerGroup had a net margin of 2.24% and a return on equity of 17.90%. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the prior year, the business earned $1.60 earnings per share. ManpowerGroup’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, analysts anticipate that ManpowerGroup will post $6.75 earnings per share for the current fiscal year.
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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