ManpowerGroup (NYSE:MAN) Price Target Lowered to $55.00 at Barclays

ManpowerGroup (NYSE:MAN) had its price target lowered by Barclays from $70.00 to $55.00 in a report issued on Friday,Benzinga reports. Barclays currently has an underweight rating on the business services provider’s stock.

MAN has been the topic of several other reports. Truist Financial lowered their target price on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a research note on Friday, October 18th. 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 report on Friday, October 18th. Finally, UBS Group reduced their target price on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, ManpowerGroup has a consensus rating of “Hold” and a consensus target price of $73.00.

ManpowerGroup Stock Up 1.2 %

ManpowerGroup stock opened at $57.71 on Friday. The firm has a 50 day moving average price of $61.31 and a 200-day moving average price of $67.72. ManpowerGroup has a twelve month low of $55.87 and a twelve month high of $78.87. The company has a market capitalization of $2.71 billion, a P/E ratio of 73.05 and a beta of 1.46. 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 posted its earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.01. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate 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 predict that ManpowerGroup will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $1.545 dividend. This is a boost from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 dividend on an annualized basis and a dividend yield of 10.71%. The ex-dividend date was Monday, December 2nd. ManpowerGroup’s dividend payout ratio is presently 389.87%.

Insider Activity

In related news, CFO John T. Mcginnis acquired 8,000 shares of ManpowerGroup stock in a transaction dated Wednesday, October 23rd. The shares were purchased at an average cost of $62.28 per share, with a total value of $498,240.00. Following the completion of the purchase, the chief financial officer now owns 70,639 shares of the company’s stock, valued at $4,399,396.92. This represents a 12.77 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On ManpowerGroup

Institutional investors have recently bought and sold shares of the stock. Everence Capital Management Inc. bought a new stake in ManpowerGroup in the fourth quarter valued at approximately $201,000. JPMorgan Chase & Co. increased its stake in shares of ManpowerGroup by 1.2% in the third quarter. JPMorgan Chase & Co. now owns 162,534 shares of the business services provider’s stock worth $11,950,000 after buying an additional 1,999 shares during the period. Franklin Resources Inc. raised its holdings in ManpowerGroup by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 186,295 shares of the business services provider’s stock valued at $13,464,000 after buying an additional 5,207 shares during the last quarter. Synovus Financial Corp boosted its position in ManpowerGroup by 7.8% during the 3rd quarter. Synovus Financial Corp now owns 7,922 shares of the business services provider’s stock valued at $582,000 after buying an additional 570 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in ManpowerGroup in the 3rd quarter worth $207,000. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

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.