Federated Hermes Inc. Acquires 1,235 Shares of ManpowerGroup Inc. (NYSE:MAN)

Federated Hermes Inc. lifted its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 97,575 shares of the business services provider’s stock after purchasing an additional 1,235 shares during the period. Federated Hermes Inc. owned about 0.20% of ManpowerGroup worth $6,811,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in ManpowerGroup by 21.5% in the 4th quarter. BNP Paribas Financial Markets now owns 10,066 shares of the business services provider’s stock worth $800,000 after acquiring an additional 1,784 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in ManpowerGroup by 102.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,189 shares of the business services provider’s stock worth $651,000 after acquiring an additional 4,151 shares during the last quarter. Norges Bank bought a new stake in ManpowerGroup in the 4th quarter worth $44,057,000. Corient Private Wealth LLC grew its holdings in ManpowerGroup by 91.8% in the 4th quarter. Corient Private Wealth LLC now owns 10,700 shares of the business services provider’s stock worth $850,000 after acquiring an additional 5,121 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in ManpowerGroup in the 4th quarter worth $625,000. Institutional investors own 98.03% of the company’s stock.

ManpowerGroup Trading Up 1.7 %

Shares of NYSE MAN opened at $73.15 on Wednesday. ManpowerGroup Inc. has a 1 year low of $66.03 and a 1 year high of $80.25. The stock has a market cap of $3.49 billion, a P/E ratio of 75.41, a price-to-earnings-growth ratio of 1.78 and a beta of 1.45. The firm has a 50-day moving average of $71.74 and a 200 day moving average of $73.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.14 and a quick ratio of 1.14.

ManpowerGroup (NYSE:MAN) last issued its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. ManpowerGroup had a net margin of 0.25% and a return on equity of 11.08%. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period last year, the company posted $1.58 EPS. ManpowerGroup’s revenue was down 6.9% on a year-over-year basis. As a group, sell-side analysts expect that ManpowerGroup Inc. will post 4.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on MAN. BMO Capital Markets raised their target price on shares of ManpowerGroup from $80.00 to $87.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. BNP Paribas raised shares of ManpowerGroup from an “underperform” rating to an “outperform” rating and set a $92.00 target price for the company in a research report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. dropped their target price on shares of ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, ManpowerGroup has an average rating of “Hold” and a consensus price target of $82.40.

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.