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Strs Ohio Reduces Position in ManpowerGroup Inc. (NYSE:MAN)

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Strs Ohio cut its stake in shares of ManpowerGroup Inc. (NYSE:MANGet Rating) by 21.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 16,896 shares of the business services provider’s stock after selling 4,674 shares during the quarter. Strs Ohio’s holdings in ManpowerGroup were worth $1,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp grew its holdings in shares of ManpowerGroup by 88.6% during the first quarter. Fifth Third Bancorp now owns 347 shares of the business services provider’s stock valued at $33,000 after buying an additional 163 shares during the last quarter. Quent Capital LLC purchased a new stake in ManpowerGroup in the fourth quarter valued at $50,000. Covestor Ltd purchased a new stake in ManpowerGroup in the fourth quarter valued at $67,000. Lazard Asset Management LLC boosted its holdings in ManpowerGroup by 28.7% in the fourth quarter. Lazard Asset Management LLC now owns 887 shares of the business services provider’s stock valued at $86,000 after purchasing an additional 198 shares during the last quarter. Finally, Bank of New Hampshire boosted its holdings in ManpowerGroup by 10.2% in the first quarter. Bank of New Hampshire now owns 2,640 shares of the business services provider’s stock valued at $248,000 after purchasing an additional 245 shares during the last quarter. 95.26% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Ulice Payne, Jr. sold 600 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $86.69, for a total transaction of $52,014.00. Following the completion of the transaction, the director now owns 8,532 shares in the company, valued at approximately $739,639.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by corporate insiders.

MAN has been the topic of several recent research reports. BMO Capital Markets lowered shares of ManpowerGroup from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $120.00 to $84.00 in a report on Thursday, May 26th. StockNews.com lowered shares of ManpowerGroup from a “buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. lowered shares of ManpowerGroup from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $145.00 to $78.00 in a report on Monday. Robert W. Baird decreased their price objective on shares of ManpowerGroup from $144.00 to $120.00 in a research report on Wednesday, April 20th. Finally, Credit Suisse Group decreased their price objective on shares of ManpowerGroup from $115.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, April 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $107.83.

MAN opened at $75.77 on Tuesday. ManpowerGroup Inc. has a twelve month low of $73.90 and a twelve month high of $123.84. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $84.48 and a 200 day moving average price of $93.97. The company has a market cap of $4.00 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 1.04 and a beta of 1.76.

ManpowerGroup (NYSE:MANGet Rating) last released its quarterly earnings results on Tuesday, April 19th. The business services provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.32. ManpowerGroup had a net margin of 1.97% and a return on equity of 17.72%. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts expect that ManpowerGroup Inc. will post 9.08 earnings per share for the current year.

The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were given a dividend of $1.36 per share. This represents a dividend yield of 3%. The ex-dividend date was Tuesday, May 31st. This is an increase from ManpowerGroup’s previous Semi-Annual dividend of $1.26. ManpowerGroup’s dividend payout ratio is 36.32%.

About ManpowerGroup (Get Rating)

ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. 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.

Further Reading

Want to see what other hedge funds are holding MAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ManpowerGroup Inc. (NYSE:MANGet Rating).

Institutional Ownership by Quarter for ManpowerGroup (NYSE:MAN)



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