ManpowerGroup Inc. (NYSE:MAN) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 24.0% during the fourth quarter, Holdings Channel reports. The firm owned 437,495 shares of the business services provider’s stock after acquiring an additional 84,741 shares during the quarter. Northern Trust Corp’s holdings in ManpowerGroup were worth $25,252,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Merit Financial Group LLC acquired a new stake in shares of ManpowerGroup during the fourth quarter worth $241,000. AlphaQuest LLC raised its holdings in shares of ManpowerGroup by 4,364.3% during the fourth quarter. AlphaQuest LLC now owns 27,991 shares of the business services provider’s stock worth $1,616,000 after purchasing an additional 27,364 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of ManpowerGroup by 34.5% during the fourth quarter. Bank of New York Mellon Corp now owns 748,246 shares of the business services provider’s stock worth $43,189,000 after purchasing an additional 191,901 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of ManpowerGroup by 1.2% during the third quarter. JPMorgan Chase & Co. now owns 162,534 shares of the business services provider’s stock worth $11,950,000 after purchasing an additional 1,999 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of ManpowerGroup by 1,373.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 53,473 shares of the business services provider’s stock worth $3,086,000 after acquiring an additional 49,845 shares during the last quarter. 98.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. BMO Capital Markets lowered their price target on shares of ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating for the company in a research report on Monday, April 21st. UBS Group lowered their price target on shares of ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Truist Financial lowered their price target on shares of ManpowerGroup from $55.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, April 21st. Barclays upgraded shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $55.00 to $50.00 in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $57.50.

ManpowerGroup Stock Performance

Shares of MAN opened at $41.47 on Monday. The firm has a 50-day moving average price of $51.33 and a 200 day moving average price of $56.68. The firm has a market capitalization of $1.92 billion, a PE ratio of 13.87 and a beta of 1.09. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. ManpowerGroup Inc. has a 52-week low of $38.10 and a 52-week high of $78.87.

ManpowerGroup (NYSE:MAN) last announced its earnings results on Thursday, April 17th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The company had revenue of $698.30 million during the quarter, compared to the consensus estimate of $3.94 billion. ManpowerGroup had a net margin of 0.81% and a return on equity of 10.19%. During the same quarter in the prior year, the company earned $0.94 EPS. On average, sell-side analysts anticipate that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

ManpowerGroup Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.72 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a yield of 3.5%. ManpowerGroup’s dividend payout ratio is presently 62.61%.

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.