Man Group plc Has $7.86 Million Holdings in ManpowerGroup Inc. (NYSE:MAN)

Man Group plc increased its stake in ManpowerGroup Inc. (NYSE:MAN) by 59.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 136,212 shares of the business services provider’s stock after purchasing an additional 50,780 shares during the quarter. Man Group plc’s holdings in ManpowerGroup were worth $7,862,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Nomura Holdings Inc. bought a new stake in shares of ManpowerGroup in the 4th quarter valued at $359,000. Occudo Quantitative Strategies LP increased its stake in shares of ManpowerGroup by 34.8% in the 4th quarter. Occudo Quantitative Strategies LP now owns 16,951 shares of the business services provider’s stock valued at $978,000 after acquiring an additional 4,373 shares in the last quarter. Mork Capital Management LLC increased its stake in shares of ManpowerGroup by 42.4% in the 4th quarter. Mork Capital Management LLC now owns 17,810 shares of the business services provider’s stock valued at $1,028,000 after acquiring an additional 5,300 shares in the last quarter. Millennium Management LLC increased its stake in shares of ManpowerGroup by 137.0% in the 4th quarter. Millennium Management LLC now owns 811,595 shares of the business services provider’s stock valued at $46,845,000 after acquiring an additional 469,184 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of ManpowerGroup by 166.4% in the 4th quarter. Lazard Asset Management LLC now owns 32,497 shares of the business services provider’s stock valued at $1,875,000 after acquiring an additional 20,300 shares in the last quarter. Institutional investors own 98.03% of the company’s stock.

ManpowerGroup Stock Performance

NYSE MAN opened at $43.98 on Tuesday. The company has a fifty day simple moving average of $49.31 and a 200 day simple moving average of $55.85. ManpowerGroup Inc. has a 12-month low of $38.10 and a 12-month high of $78.22. 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 cap of $2.04 billion, a P/E ratio of 14.71 and a beta of 1.09.

ManpowerGroup (NYSE:MAN) last posted its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The firm 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 prior year, the firm earned $0.94 earnings per share. Sell-side analysts predict that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

ManpowerGroup Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued 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 dividend payout ratio is 62.61%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MAN shares. BMO Capital Markets lowered their price objective on shares of ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. Barclays raised shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $55.00 to $50.00 in a research report on Thursday, April 10th. Truist Financial reduced their price target on shares of ManpowerGroup from $55.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, April 21st. UBS Group reduced their price target on shares of ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.50.

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.