JPMorgan Chase & Co. Boosts Stake in ManpowerGroup Inc. (NYSE:MAN)

JPMorgan Chase & Co. boosted its holdings in ManpowerGroup Inc. (NYSE:MAN) by 1.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 162,534 shares of the business services provider’s stock after purchasing an additional 1,999 shares during the period. JPMorgan Chase & Co. owned about 0.35% of ManpowerGroup worth $11,950,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Texas Permanent School Fund Corp raised its stake in shares of ManpowerGroup by 13.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 48,335 shares of the business services provider’s stock valued at $3,374,000 after purchasing an additional 5,618 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of ManpowerGroup during the 2nd quarter valued at approximately $47,000. AGF Management Ltd. acquired a new stake in shares of ManpowerGroup during the 2nd quarter valued at approximately $2,173,000. Federated Hermes Inc. boosted its holdings in ManpowerGroup by 1.3% in the second quarter. Federated Hermes Inc. now owns 97,575 shares of the business services provider’s stock worth $6,811,000 after purchasing an additional 1,235 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of ManpowerGroup by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,299,985 shares of the business services provider’s stock valued at $160,539,000 after buying an additional 103,059 shares during the last quarter. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

ManpowerGroup Stock Performance

Shares of MAN opened at $54.55 on Monday. The stock has a market capitalization of $2.56 billion, a P/E ratio of 69.05 and a beta of 1.46. ManpowerGroup Inc. has a 12-month low of $53.70 and a 12-month high of $78.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.15. The firm’s 50 day moving average is $60.54 and its 200-day moving average is $67.10.

ManpowerGroup (NYSE:MAN) last posted its quarterly earnings data on Thursday, October 17th. The business services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.48 billion. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. Equities research analysts anticipate that ManpowerGroup Inc. will post 4.55 EPS for the current fiscal year.

ManpowerGroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $1.545 per share. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. The ex-dividend date was Monday, December 2nd. This represents a $6.18 dividend on an annualized basis and a dividend yield of 11.33%. ManpowerGroup’s payout ratio is currently 389.87%.

Insider Activity at ManpowerGroup

In related news, CFO John T. Mcginnis acquired 8,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were purchased at an average price of $62.28 per share, for a total transaction of $498,240.00. Following the purchase, the chief financial officer now owns 70,639 shares in the company, valued at $4,399,396.92. This represents a 12.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on MAN shares. Barclays lowered their price objective on ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, January 3rd. Truist Financial reduced their price target on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research report on Friday, October 18th. BMO Capital Markets lowered their price target on 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 lowered their target price on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, ManpowerGroup presently has a consensus rating of “Hold” and a consensus target price of $73.00.

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.