Sanctuary Advisors LLC Acquires 2,208 Shares of ManpowerGroup Inc. (NYSE:MAN)

Sanctuary Advisors LLC lifted its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 39.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,754 shares of the business services provider’s stock after acquiring an additional 2,208 shares during the quarter. Sanctuary Advisors LLC’s holdings in ManpowerGroup were worth $570,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in ManpowerGroup by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 603,081 shares of the business services provider’s stock worth $42,095,000 after purchasing an additional 5,119 shares in the last quarter. Panagora Asset Management Inc. raised its stake in ManpowerGroup by 278.0% in the second quarter. Panagora Asset Management Inc. now owns 26,108 shares of the business services provider’s stock worth $1,822,000 after buying an additional 19,201 shares in the last quarter. Innealta Capital LLC purchased a new stake in ManpowerGroup in the second quarter worth about $50,000. MUFG Securities EMEA plc bought a new stake in ManpowerGroup during the 2nd quarter valued at approximately $998,000. Finally, nVerses Capital LLC purchased a new position in shares of ManpowerGroup during the 2nd quarter worth approximately $265,000. Hedge funds and other institutional investors own 98.03% of the company’s stock.

ManpowerGroup Trading Up 0.3 %

NYSE MAN opened at $56.98 on Thursday. ManpowerGroup Inc. has a 12 month low of $55.87 and a 12 month high of $80.25. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average price is $62.21 and its 200-day moving average price is $68.40. The stock has a market cap of $2.67 billion, a P/E ratio of 72.13 and a beta of 1.45.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The company 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%. As a group, equities analysts forecast that ManpowerGroup Inc. will post 4.55 EPS for the current fiscal year.

ManpowerGroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $1.545 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $6.18 annualized dividend and a dividend yield of 10.85%. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. ManpowerGroup’s dividend payout ratio (DPR) is 389.87%.

Insider Buying and Selling

In other ManpowerGroup news, CFO John T. Mcginnis bought 8,000 shares of ManpowerGroup stock in a transaction on Wednesday, October 23rd. The stock was acquired at an average price of $62.28 per share, with a total value of $498,240.00. Following the acquisition, the chief financial officer now owns 70,639 shares in the company, valued at approximately $4,399,396.92. This trade represents a 12.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MAN has been the subject of a number of research analyst reports. Truist Financial lowered their target price on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research note on Friday, October 18th. BMO Capital Markets dropped their target price on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a report on Friday, October 18th. Finally, UBS Group decreased their price target on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a research note 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, the stock has a consensus rating of “Hold” and an average target price of $76.60.

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.