ManpowerGroup Inc. (NYSE:MAN) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in ManpowerGroup Inc. (NYSE:MAN) by 46.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,289 shares of the business services provider’s stock after selling 5,515 shares during the period. Intech Investment Management LLC’s holdings in ManpowerGroup were worth $462,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Blue Trust Inc. boosted its stake in ManpowerGroup by 248.3% in the third quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 375 shares during the period. Headlands Technologies LLC bought a new stake in shares of ManpowerGroup in the 2nd quarter worth approximately $47,000. Innealta Capital LLC acquired a new position in ManpowerGroup during the 2nd quarter valued at approximately $50,000. Capital Performance Advisors LLP bought a new position in ManpowerGroup during the 3rd quarter worth $54,000. Finally, Abich Financial Wealth Management LLC increased its position in ManpowerGroup by 34.8% in the second quarter. Abich Financial Wealth Management LLC now owns 786 shares of the business services provider’s stock worth $55,000 after buying an additional 203 shares during the period. Institutional investors own 98.03% of the company’s stock.

Insider Transactions at ManpowerGroup

In other ManpowerGroup news, CFO John T. Mcginnis bought 8,000 shares of ManpowerGroup stock in a transaction that occurred on Wednesday, October 23rd. The stock was purchased at an average cost of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the acquisition, the chief financial officer now owns 70,639 shares of the company’s stock, valued at approximately $4,399,396.92. This represents a 12.77 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ManpowerGroup Price Performance

Shares of NYSE MAN opened at $63.18 on Tuesday. The stock has a market cap of $2.97 billion, a P/E ratio of 80.00 and a beta of 1.46. The firm’s 50-day simple moving average is $66.59 and its 200 day simple moving average is $70.15. ManpowerGroup Inc. has a fifty-two week low of $59.35 and a fifty-two week high of $80.25. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.46.

ManpowerGroup (NYSE:MAN) last released its earnings results on Thursday, October 17th. The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.48 billion. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. Equities analysts expect that ManpowerGroup Inc. will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.545 dividend. This represents a $6.18 dividend on an annualized basis and a dividend yield of 9.78%. The ex-dividend date is Monday, December 2nd. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. ManpowerGroup’s payout ratio is currently 389.87%.

About ManpowerGroup

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.