Norges Bank Buys New Position in ManpowerGroup Inc. (NYSE:MAN)

Norges Bank purchased a new position in shares of ManpowerGroup Inc. (NYSE:MAN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 480,012 shares of the business services provider’s stock, valued at approximately $27,706,000. Norges Bank owned approximately 1.02% of ManpowerGroup as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MAN. Geode Capital Management LLC lifted its position in shares of ManpowerGroup by 0.5% during the third quarter. Geode Capital Management LLC now owns 794,704 shares of the business services provider’s stock worth $58,444,000 after purchasing an additional 4,113 shares in the last quarter. Bank of New York Mellon Corp increased its stake in ManpowerGroup by 34.5% during the 4th quarter. Bank of New York Mellon Corp now owns 748,246 shares of the business services provider’s stock worth $43,189,000 after buying an additional 191,901 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in ManpowerGroup in the 4th quarter valued at about $34,200,000. Charles Schwab Investment Management Inc. grew its stake in shares of ManpowerGroup by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 504,917 shares of the business services provider’s stock valued at $29,144,000 after acquiring an additional 23,741 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of ManpowerGroup by 111.7% during the fourth quarter. Prudential Financial Inc. now owns 364,515 shares of the business services provider’s stock worth $21,040,000 after acquiring an additional 192,345 shares during the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.

ManpowerGroup Stock Performance

Shares of MAN opened at $52.18 on Monday. The stock has a market capitalization of $2.44 billion, a PE ratio of 17.45 and a beta of 1.28. The business’s fifty day moving average price is $57.86 and its 200 day moving average price is $61.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.15. ManpowerGroup Inc. has a 12-month low of $51.12 and a 12-month high of $78.87.

Analyst Ratings Changes

MAN has been the subject of a number of analyst reports. UBS Group reduced their price target on ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays reduced their target price 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 restated a “hold” rating and issued a $70.00 price target (down previously from $74.00) on shares of ManpowerGroup in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $69.33.

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.