AMP Capital Investors Ltd trimmed its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 6.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,294 shares of the business services provider’s stock after selling 5,945 shares during the period. AMP Capital Investors Ltd owned about 0.13% of ManpowerGroup worth $7,426,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in ManpowerGroup by 6.5% in the 2nd quarter. BlackRock Inc. now owns 8,070,128 shares of the business services provider’s stock worth $694,518,000 after acquiring an additional 491,423 shares during the last quarter. LSV Asset Management increased its holdings in ManpowerGroup by 7.3% in the 2nd quarter. LSV Asset Management now owns 1,634,220 shares of the business services provider’s stock worth $140,640,000 after acquiring an additional 111,282 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in ManpowerGroup by 4.9% in the 1st quarter. Russell Investments Group Ltd. now owns 760,171 shares of the business services provider’s stock worth $87,432,000 after acquiring an additional 35,448 shares during the last quarter. Northern Trust Corp increased its holdings in ManpowerGroup by 0.5% in the 1st quarter. Northern Trust Corp now owns 736,024 shares of the business services provider’s stock worth $84,718,000 after acquiring an additional 3,684 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in ManpowerGroup by 29.8% in the 2nd quarter. Wells Fargo & Company MN now owns 655,953 shares of the business services provider’s stock worth $56,451,000 after acquiring an additional 150,427 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.
MAN stock opened at $87.63 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.37. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 12.45 and a beta of 1.22. ManpowerGroup Inc. has a twelve month low of $81.85 and a twelve month high of $136.93.
ManpowerGroup (NYSE:MAN) last posted its earnings results on Friday, July 20th. The business services provider reported $2.35 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $2.35. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.88 billion. ManpowerGroup had a return on equity of 19.37% and a net margin of 2.67%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 EPS. sell-side analysts expect that ManpowerGroup Inc. will post 8.94 EPS for the current fiscal year.
ManpowerGroup declared that its board has authorized a share buyback plan on Friday, August 3rd that authorizes the company to buyback 6,000,000 shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
MAN has been the subject of several recent research reports. Barclays decreased their price objective on ManpowerGroup from $115.00 to $90.00 and set a “$86.63” rating for the company in a report on Wednesday, July 18th. Nomura reissued a “buy” rating and issued a $130.00 price objective on shares of ManpowerGroup in a report on Sunday, July 22nd. SunTrust Banks reissued a “hold” rating and issued a $100.00 price objective on shares of ManpowerGroup in a report on Monday, July 23rd. Northcoast Research reissued a “neutral” rating on shares of ManpowerGroup in a report on Monday, July 23rd. Finally, BMO Capital Markets decreased their price objective on ManpowerGroup from $107.00 to $96.00 and set an “outperform” rating for the company in a report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $113.70.
In other ManpowerGroup news, Director Ulice Payne, Jr. sold 1,350 shares of ManpowerGroup stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $89.43, for a total transaction of $120,730.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mara E. Swan sold 11,192 shares of ManpowerGroup stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $93.77, for a total value of $1,049,473.84. Following the transaction, the executive vice president now directly owns 13,493 shares of the company’s stock, valued at approximately $1,265,238.61. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.
ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The company's recruitment service portfolio includes permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions.
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