Allspring Global Investments Holdings LLC Trims Stock Holdings in ManpowerGroup Inc. (NYSE:MAN)

Allspring Global Investments Holdings LLC cut its position in shares of ManpowerGroup Inc. (NYSE:MAN) by 76.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,908 shares of the business services provider’s stock after selling 96,886 shares during the period. Allspring Global Investments Holdings LLC owned about 0.06% of ManpowerGroup worth $1,706,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MAN. WFA Asset Management Corp acquired a new position in ManpowerGroup during the 4th quarter valued at about $35,000. Blue Trust Inc. raised its holdings in shares of ManpowerGroup by 248.3% in the third quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock worth $37,000 after buying an additional 375 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of ManpowerGroup during the third quarter worth $54,000. R Squared Ltd purchased a new stake in ManpowerGroup during the 4th quarter valued at about $95,000. Finally, Venturi Wealth Management LLC boosted its position in ManpowerGroup by 400.3% in the third quarter. Venturi Wealth Management LLC now owns 1,666 shares of the business services provider’s stock valued at $122,000 after buying an additional 1,333 shares during the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MAN. Barclays cut their target price on shares of ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating for the company in a report on Friday, January 3rd. UBS Group dropped their price target on ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Truist Financial reaffirmed a “hold” rating and issued a $70.00 target price (down from $74.00) on shares of ManpowerGroup in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their target price on ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $69.33.

ManpowerGroup Price Performance

Shares of MAN opened at $53.73 on Friday. The company has a market cap of $2.51 billion, a P/E ratio of 17.97 and a beta of 1.45. ManpowerGroup Inc. has a fifty-two week low of $53.67 and a fifty-two week high of $78.87. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average price is $57.55 and its 200 day moving average price is $64.28.

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.