Pallas Capital Advisors LLC Purchases New Position in ManpowerGroup Inc. (NYSE:MAN)

Pallas Capital Advisors LLC purchased a new stake in ManpowerGroup Inc. (NYSE:MAN) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,090 shares of the business services provider’s stock, valued at approximately $989,000.

Other large investors have also recently modified their holdings of the company. Colonial Trust Co SC purchased a new stake in shares of ManpowerGroup in the fourth quarter valued at approximately $28,000. SRS Capital Advisors Inc. boosted its holdings in shares of ManpowerGroup by 171.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 890 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 562 shares during the period. UMB Bank n.a. boosted its holdings in shares of ManpowerGroup by 131.7% in the first quarter. UMB Bank n.a. now owns 899 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 511 shares during the period. WFA Asset Management Corp raised its stake in ManpowerGroup by 129.3% in the first quarter. WFA Asset Management Corp now owns 1,376 shares of the business services provider’s stock worth $80,000 after buying an additional 776 shares in the last quarter. Finally, Curat Global LLC bought a new position in ManpowerGroup in the first quarter worth approximately $85,000. Hedge funds and other institutional investors own 98.03% of the company’s stock.

ManpowerGroup Price Performance

NYSE:MAN opened at $42.74 on Wednesday. ManpowerGroup Inc. has a one year low of $38.10 and a one year high of $78.22. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.15 and a current ratio of 1.12. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 14.29 and a beta of 1.08. The firm’s fifty day moving average is $43.89 and its two-hundred day moving average is $53.55.

ManpowerGroup (NYSE:MAN) last posted 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 return on equity of 10.19% and a net margin of 0.81%. The firm had revenue of $698.30 million for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the company earned $0.94 earnings per share. Research 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. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.72 per share. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, June 2nd. ManpowerGroup’s payout ratio is currently 62.61%.

Analysts Set New Price Targets

MAN has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of ManpowerGroup from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. reduced their price target on ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. UBS Group reduced their price target on ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Barclays raised ManpowerGroup from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $55.00 to $50.00 in a research report on Thursday, April 10th. Finally, Truist Financial cut their target price on ManpowerGroup from $55.00 to $48.00 and set a “hold” rating on the stock in a research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $57.50.

ManpowerGroup 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.