Martingale Asset Management L P Sells 9,550 Shares of ManpowerGroup Inc. (NYSE:MAN)

Martingale Asset Management L P lowered its holdings in ManpowerGroup Inc. (NYSE:MAN) by 55.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,597 shares of the business services provider’s stock after selling 9,550 shares during the period. Martingale Asset Management L P’s holdings in ManpowerGroup were worth $559,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. increased its position in shares of ManpowerGroup by 12,496.6% during the 3rd quarter. Pacer Advisors Inc. now owns 901,536 shares of the business services provider’s stock valued at $66,281,000 after purchasing an additional 894,379 shares during the last quarter. AQR Capital Management LLC grew its position in ManpowerGroup by 55.3% during the second quarter. AQR Capital Management LLC now owns 1,608,368 shares of the business services provider’s stock valued at $112,264,000 after acquiring an additional 573,027 shares during the last quarter. Pzena Investment Management LLC bought a new position in ManpowerGroup during the second quarter valued at approximately $24,508,000. Millennium Management LLC raised its stake in shares of ManpowerGroup by 163.7% during the second quarter. Millennium Management LLC now owns 407,970 shares of the business services provider’s stock worth $28,476,000 after acquiring an additional 253,287 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of ManpowerGroup by 4.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,125,887 shares of the business services provider’s stock worth $287,987,000 after acquiring an additional 183,527 shares during the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.

ManpowerGroup Stock Performance

ManpowerGroup stock opened at $62.35 on Wednesday. ManpowerGroup Inc. has a 1-year low of $59.35 and a 1-year high of $80.25. The firm has a market cap of $2.93 billion, a P/E ratio of 78.93 and a beta of 1.45. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $66.38 and a 200-day moving average of $70.06.

ManpowerGroup (NYSE:MAN) last issued its quarterly earnings data on Thursday, October 17th. The business services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.48 billion. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. Sell-side analysts expect that ManpowerGroup Inc. will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.545 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 annualized dividend and a yield of 9.91%. ManpowerGroup’s dividend payout ratio (DPR) is 389.88%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. BMO Capital Markets decreased their target price on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research report on Friday, October 18th. UBS Group decreased their price objective on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. Finally, Truist Financial dropped their target price on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $76.60.

Insider Buying and Selling at ManpowerGroup

In other news, CFO John T. Mcginnis bought 8,000 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was bought at an average price of $62.28 per share, for a total transaction of $498,240.00. Following the purchase, the chief financial officer now directly owns 70,639 shares in the company, valued at $4,399,396.92. This trade represents a 12.77 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.

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.