WFA Asset Management Corp Raises Holdings in ManpowerGroup Inc. (NYSE:MAN)

WFA Asset Management Corp increased its stake in shares of ManpowerGroup Inc. (NYSE:MAN) by 129.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,376 shares of the business services provider’s stock after acquiring an additional 776 shares during the period. WFA Asset Management Corp’s holdings in ManpowerGroup were worth $80,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Colonial Trust Co SC purchased a new position in shares of ManpowerGroup during the 4th quarter valued at approximately $28,000. SRS Capital Advisors Inc. grew its position in ManpowerGroup by 171.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 890 shares of the business services provider’s stock valued at $51,000 after buying an additional 562 shares during the period. UMB Bank n.a. grew its position in ManpowerGroup by 131.7% during the first quarter. UMB Bank n.a. now owns 899 shares of the business services provider’s stock valued at $52,000 after buying an additional 511 shares during the period. Curat Global LLC purchased a new position in ManpowerGroup in the first quarter valued at $85,000. Finally, Quarry LP raised its position in shares of ManpowerGroup by 193.4% in the fourth quarter. Quarry LP now owns 2,262 shares of the business services provider’s stock worth $131,000 after acquiring an additional 1,491 shares during the period. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MAN shares. Barclays raised ManpowerGroup from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $55.00 to $50.00 in a report on Thursday, April 10th. Truist Financial cut their price target on shares of ManpowerGroup from $55.00 to $48.00 and set a “hold” rating for the company in a report on Monday, April 21st. UBS Group dropped their target price on shares of ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Wall Street Zen downgraded shares of ManpowerGroup from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Finally, BMO Capital Markets lowered their price objective on ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating on the stock in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $57.50.

ManpowerGroup Stock Up 1.1%

Shares of NYSE:MAN opened at $40.58 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 13.57 and a beta of 1.08. The business has a 50-day moving average price of $44.49 and a 200 day moving average price of $53.77. ManpowerGroup Inc. has a 12-month low of $38.10 and a 12-month high of $78.22.

ManpowerGroup (NYSE:MAN) last posted its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The company had revenue of $698.30 million for the quarter, compared to analysts’ expectations of $3.94 billion. ManpowerGroup had a return on equity of 10.19% and a net margin of 0.81%. During the same period in the previous year, the business posted $0.94 EPS. Sell-side analysts expect that ManpowerGroup Inc. will post 4.23 EPS for the current year.

ManpowerGroup Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.72 per share. This represents a yield of 3.5%. The ex-dividend date of this dividend is Monday, June 2nd. ManpowerGroup’s payout ratio is 62.61%.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services worldwide. 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. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.