Point72 Hong Kong Ltd Decreases Position in ManpowerGroup Inc. (NYSE:MAN)

Point72 Hong Kong Ltd lessened its stake in ManpowerGroup Inc. (NYSE:MAN) by 67.5% in the third quarter, HoldingsChannel reports. The fund owned 13,240 shares of the business services provider’s stock after selling 27,542 shares during the period. Point72 Hong Kong Ltd’s holdings in ManpowerGroup were worth $973,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in ManpowerGroup by 248.3% in the third quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 375 shares during the last quarter. Headlands Technologies LLC bought a new stake in ManpowerGroup during the 2nd quarter valued at $47,000. Innealta Capital LLC bought a new stake in ManpowerGroup during the 2nd quarter valued at $50,000. Capital Performance Advisors LLP purchased a new stake in ManpowerGroup during the 3rd quarter valued at $54,000. Finally, Abich Financial Wealth Management LLC increased its position in shares of ManpowerGroup by 34.8% in the second quarter. Abich Financial Wealth Management LLC now owns 786 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 203 shares during the period. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

ManpowerGroup Price Performance

MAN stock opened at $64.37 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.15. ManpowerGroup Inc. has a 1 year low of $59.35 and a 1 year high of $80.25. The firm has a 50-day moving average of $66.59 and a 200 day moving average of $70.21. The company has a market cap of $3.02 billion, a P/E ratio of 81.48 and a beta of 1.46.

ManpowerGroup (NYSE:MAN) last announced its earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. The firm had revenue of $4.53 billion during 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%. On average, sell-side analysts forecast that ManpowerGroup Inc. will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.545 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.18 annualized dividend and a yield of 9.60%. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. ManpowerGroup’s dividend payout ratio (DPR) is currently 389.88%.

Insider Activity

In other ManpowerGroup news, CFO John T. Mcginnis purchased 8,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was bought at an average cost of $62.28 per share, with a total value of $498,240.00. Following the transaction, the chief financial officer now directly owns 70,639 shares in the company, valued at approximately $4,399,396.92. The trade was a 12.77 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MAN. Truist Financial dropped their target price on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a report on Friday, October 18th. UBS Group dropped their price objective on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, October 18th. Finally, BMO Capital Markets cut their price objective on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research 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 company currently has an average rating of “Hold” and a consensus target price of $76.60.

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.