State of New Jersey Common Pension Fund D Sells 12,476 Shares of ManpowerGroup Inc. (NYSE:MAN)

State of New Jersey Common Pension Fund D cut its holdings in ManpowerGroup Inc. (NYSE:MAN) by 32.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,060 shares of the business services provider’s stock after selling 12,476 shares during the period. State of New Jersey Common Pension Fund D owned 0.05% of ManpowerGroup worth $1,819,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in ManpowerGroup by 21.5% in the 4th quarter. BNP Paribas Financial Markets now owns 10,066 shares of the business services provider’s stock worth $800,000 after purchasing an additional 1,784 shares in the last quarter. Norges Bank purchased a new stake in ManpowerGroup in the 4th quarter worth approximately $44,057,000. Corient Private Wealth LLC raised its position in shares of ManpowerGroup by 91.8% during the 4th quarter. Corient Private Wealth LLC now owns 10,700 shares of the business services provider’s stock valued at $850,000 after buying an additional 5,121 shares in the last quarter. Franklin Resources Inc. raised its position in shares of ManpowerGroup by 0.3% during the 4th quarter. Franklin Resources Inc. now owns 186,148 shares of the business services provider’s stock valued at $14,793,000 after buying an additional 538 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of ManpowerGroup by 16.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,091 shares of the business services provider’s stock valued at $246,000 after buying an additional 426 shares in the last quarter. 98.03% of the stock is owned by institutional investors.

ManpowerGroup Trading Up 0.1 %

Shares of MAN opened at $73.82 on Tuesday. The firm’s 50-day moving average price is $72.29 and its 200-day moving average price is $73.07. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 76.10, a PEG ratio of 1.78 and a beta of 1.45. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.45. ManpowerGroup Inc. has a 1-year low of $66.03 and a 1-year high of $80.25.

ManpowerGroup (NYSE:MAN) last announced its earnings results on Thursday, July 18th. The business services provider reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.53 billion. ManpowerGroup had a net margin of 0.25% and a return on equity of 11.08%. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.58 EPS. Sell-side analysts anticipate that ManpowerGroup Inc. will post 4.87 EPS for the current year.

Analyst Upgrades and Downgrades

MAN has been the topic of several research reports. BMO Capital Markets raised their price objective on shares of ManpowerGroup from $80.00 to $87.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. lowered their price objective on shares of ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, BNP Paribas upgraded shares of ManpowerGroup from an “underperform” rating to an “outperform” rating and set a $92.00 target price on the stock in a research report on Tuesday, June 11th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $82.40.

ManpowerGroup Profile

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.