Point72 Asset Management L.P. Has $10.24 Million Stock Position in ManpowerGroup Inc. (NYSE:MAN)

Point72 Asset Management L.P. reduced its stake in ManpowerGroup Inc. (NYSE:MAN) by 45.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 177,320 shares of the business services provider’s stock after selling 147,546 shares during the period. Point72 Asset Management L.P. owned 0.38% of ManpowerGroup worth $10,235,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Colonial Trust Co SC acquired a new position in shares of ManpowerGroup during the 4th quarter worth about $28,000. WFA Asset Management Corp bought a new position in ManpowerGroup during the 4th quarter worth approximately $35,000. SRS Capital Advisors Inc. grew its holdings 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 purchasing an additional 562 shares during the period. Blue Trust Inc. grew its holdings in ManpowerGroup by 147.9% during the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 778 shares during the period. Finally, R Squared Ltd bought a new stake in ManpowerGroup in the fourth quarter valued at approximately $95,000. 98.03% of the stock is owned by institutional investors and hedge funds.

ManpowerGroup Trading Up 1.6%

MAN opened at $44.02 on Monday. The stock has a market capitalization of $2.04 billion, a P/E ratio of 14.72 and a beta of 1.09. The company has a current ratio of 1.12, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. ManpowerGroup Inc. has a 12 month low of $38.10 and a 12 month high of $78.22. The firm’s fifty day simple moving average is $49.60 and its 200 day simple moving average is $55.99.

ManpowerGroup (NYSE:MAN) last released its quarterly 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). The firm had revenue of $698.30 million during the quarter, compared to analyst estimates of $3.94 billion. ManpowerGroup had a net margin of 0.81% and a return on equity of 10.19%. During the same period in the prior year, the business earned $0.94 EPS. As a group, research analysts anticipate that ManpowerGroup Inc. will post 4.23 EPS for the current fiscal year.

ManpowerGroup Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.72 dividend. 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MAN shares. Barclays raised shares of 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 research report on Thursday, April 10th. UBS Group reduced their target price on ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. decreased their target price on ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Truist Financial dropped their price target on ManpowerGroup from $55.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. Finally, BMO Capital Markets cut 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. 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 MarketBeat.com, the stock currently 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.