Algert Global LLC Makes New $250,000 Investment in ManpowerGroup Inc. (NYSE:MAN)

Algert Global LLC purchased a new position in ManpowerGroup Inc. (NYSE:MAN) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 4,327 shares of the business services provider’s stock, valued at approximately $250,000.

Other institutional investors have also recently made changes to their positions in the company. WFA Asset Management Corp purchased a new position in shares of ManpowerGroup during the fourth quarter worth $35,000. SRS Capital Advisors Inc. raised its holdings in shares of ManpowerGroup by 171.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 890 shares of the business services provider’s stock worth $51,000 after purchasing an additional 562 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of ManpowerGroup by 147.9% during the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the business services provider’s stock worth $75,000 after purchasing an additional 778 shares during the last quarter. R Squared Ltd purchased a new position in shares of ManpowerGroup during the fourth quarter worth $95,000. Finally, Quarry LP raised its holdings in shares of ManpowerGroup by 193.4% during the fourth quarter. Quarry LP now owns 2,262 shares of the business services provider’s stock worth $131,000 after purchasing an additional 1,491 shares during the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on MAN shares. BMO Capital Markets reduced their target price on shares of ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating for the company in a report on Monday, April 21st. Barclays raised shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $55.00 to $50.00 in a report on Thursday, April 10th. JPMorgan Chase & Co. dropped their price target on shares of ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Truist Financial dropped their price target on shares of ManpowerGroup from $55.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. Finally, UBS Group dropped their price target 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. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, ManpowerGroup currently has a consensus rating of “Hold” and an average target price of $57.50.

ManpowerGroup Stock Up 6.7%

MAN stock opened at $44.17 on Tuesday. The firm’s fifty day moving average is $51.04 and its 200 day moving average is $56.54. ManpowerGroup Inc. has a one year low of $38.10 and a one year high of $78.87. The firm has a market cap of $2.04 billion, a PE ratio of 14.77 and a beta of 1.09. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.15 and a current ratio of 1.12.

ManpowerGroup (NYSE:MAN) last announced its earnings results on Thursday, April 17th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.08). ManpowerGroup had a net margin of 0.81% and a return on equity of 10.19%. The company had revenue of $698.30 million during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the business earned $0.94 EPS. On average, research analysts forecast that ManpowerGroup Inc. will post 4.23 EPS for the current year.

ManpowerGroup Cuts Dividend

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

ManpowerGroup Company Profile

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.