The Manufacturers Life Insurance Company Reduces Holdings in ManpowerGroup Inc. (NYSE:MAN)

The Manufacturers Life Insurance Company trimmed its stake in ManpowerGroup Inc. (NYSE:MAN) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,294 shares of the business services provider’s stock after selling 1,016 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of ManpowerGroup worth $2,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Abich Financial Wealth Management LLC lifted its position in shares of ManpowerGroup by 62.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 583 shares of the business services provider’s stock worth $45,000 after purchasing an additional 224 shares during the period. FinTrust Capital Advisors LLC bought a new position in shares of ManpowerGroup in the 1st quarter worth about $47,000. Headlands Technologies LLC bought a new position in shares of ManpowerGroup in the 2nd quarter worth about $47,000. Advisors Asset Management Inc. bought a new position in shares of ManpowerGroup in the 1st quarter worth about $49,000. Finally, Innealta Capital LLC bought a new position in shares of ManpowerGroup in the 2nd quarter worth about $50,000. 98.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

ManpowerGroup Stock Up 0.7 %

NYSE:MAN opened at $71.32 on Wednesday. The firm has a market cap of $3.40 billion, a P/E ratio of 73.53 and a beta of 1.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.14 and a current ratio of 1.14. ManpowerGroup Inc. has a fifty-two week low of $66.03 and a fifty-two week high of $80.25. The firm has a 50-day simple moving average of $71.96 and a two-hundred day simple moving average of $72.94.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings data 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 business had revenue of $4.52 billion during 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%. ManpowerGroup’s revenue was down 6.9% compared to the same quarter last year. During the same period last year, the business earned $1.58 EPS. Analysts predict that ManpowerGroup Inc. will post 4.87 earnings per share for the current fiscal year.

ManpowerGroup Company 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.