Allianz Asset Management GmbH Purchases 61,318 Shares of ManpowerGroup Inc. $MAN

Allianz Asset Management GmbH grew its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 12.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 552,650 shares of the business services provider’s stock after buying an additional 61,318 shares during the period. Allianz Asset Management GmbH’s holdings in ManpowerGroup were worth $20,945,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAN. Principal Financial Group Inc. increased its stake in shares of ManpowerGroup by 111.6% in the 3rd quarter. Principal Financial Group Inc. now owns 222,059 shares of the business services provider’s stock worth $8,416,000 after acquiring an additional 117,128 shares in the last quarter. UMB Bank n.a. increased its stake in shares of ManpowerGroup by 122.2% during the third quarter. UMB Bank n.a. now owns 991 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 545 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of ManpowerGroup by 7.6% during the third quarter. Thrivent Financial for Lutherans now owns 33,491 shares of the business services provider’s stock valued at $1,269,000 after purchasing an additional 2,360 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of ManpowerGroup by 58.0% during the third quarter. SummerHaven Investment Management LLC now owns 18,962 shares of the business services provider’s stock valued at $719,000 after purchasing an additional 6,959 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of ManpowerGroup by 14.4% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 105,988 shares of the business services provider’s stock worth $4,017,000 after purchasing an additional 13,309 shares in the last quarter. 98.03% of the stock is owned by hedge funds and other institutional investors.

ManpowerGroup Trading Up 0.1%

Shares of NYSE:MAN opened at $36.67 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.00. ManpowerGroup Inc. has a 1 year low of $26.14 and a 1 year high of $63.35. The company has a market cap of $1.70 billion, a P/E ratio of -122.23 and a beta of 0.88. The stock’s fifty day moving average price is $30.52 and its 200-day moving average price is $34.62.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Thursday, January 29th. The business services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.63 billion. ManpowerGroup had a positive return on equity of 6.81% and a negative net margin of 0.07%.ManpowerGroup’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.02 EPS. Sell-side analysts expect that ManpowerGroup Inc. will post 4.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on MAN. JPMorgan Chase & Co. reduced their price objective on ManpowerGroup from $52.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, October 20th. BMO Capital Markets raised ManpowerGroup from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Thursday, December 18th. The Goldman Sachs Group lifted their price target on ManpowerGroup from $27.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday. Argus raised shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Tuesday. Finally, Truist Financial reduced their price objective on shares of ManpowerGroup from $48.00 to $44.00 and set a “hold” rating for the company in a research note on Monday, October 13th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.13.

ManpowerGroup Profile

ManpowerGroup (NYSE: MAN) is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.

The company’s service offerings are organized into four principal brands.