State of Alaska Department of Revenue Acquires 235 Shares of ManpowerGroup Inc. (NYSE:MAN)

State of Alaska Department of Revenue grew its holdings in ManpowerGroup Inc. (NYSE:MAN) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,510 shares of the business services provider’s stock after acquiring an additional 235 shares during the quarter. State of Alaska Department of Revenue’s holdings in ManpowerGroup were worth $405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Blue Trust Inc. lifted its position in shares of ManpowerGroup by 248.3% in the 3rd quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock worth $37,000 after acquiring an additional 375 shares during the period. Abich Financial Wealth Management LLC raised its stake in shares of ManpowerGroup by 62.4% in the first quarter. Abich Financial Wealth Management LLC now owns 583 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 224 shares in the last quarter. Advisors Asset Management Inc. bought a new position in ManpowerGroup in the first quarter worth $49,000. Headlands Technologies LLC acquired a new stake in ManpowerGroup during the second quarter worth $47,000. Finally, Innealta Capital LLC bought a new stake in ManpowerGroup in the 2nd quarter valued at $50,000. Institutional investors and hedge funds own 98.03% of the company’s stock.

Insiders Place Their Bets

In other ManpowerGroup news, CFO John T. Mcginnis purchased 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was acquired at an average cost of $62.28 per share, with a total value of $498,240.00. Following the completion of the acquisition, the chief financial officer now directly owns 70,639 shares of the company’s stock, valued at $4,399,396.92. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.40% of the company’s stock.

ManpowerGroup Stock Performance

NYSE MAN opened at $64.37 on Friday. ManpowerGroup Inc. has a 1-year low of $61.53 and a 1-year high of $80.25. The company has a 50 day moving average of $69.25 and a 200-day moving average of $71.66. The company has a current ratio of 1.15, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 81.48 and a beta of 1.46.

ManpowerGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.545 dividend. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 annualized dividend and a yield of 9.60%. ManpowerGroup’s payout ratio is presently 389.87%.

Analyst Upgrades and Downgrades

MAN has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, October 18th. JPMorgan Chase & Co. cut 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. BMO Capital Markets lowered their price objective on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research note on Friday, October 18th. Finally, Truist Financial dropped their target price on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a report on Friday, October 18th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $76.60.

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.