ManpowerGroup Inc. (NYSE:MAN) Position Boosted by Empowered Funds LLC

Empowered Funds LLC raised its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 51.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,190 shares of the business services provider’s stock after acquiring an additional 3,789 shares during the period. Empowered Funds LLC’s holdings in ManpowerGroup were worth $823,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co raised its stake in shares of ManpowerGroup by 0.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 55,298 shares of the business services provider’s stock valued at $4,293,000 after purchasing an additional 456 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of ManpowerGroup during the 1st quarter worth about $49,000. Quadrature Capital Ltd lifted its stake in shares of ManpowerGroup by 140.0% in the 1st quarter. Quadrature Capital Ltd now owns 20,437 shares of the business services provider’s stock worth $1,587,000 after acquiring an additional 11,921 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of ManpowerGroup by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,888 shares of the business services provider’s stock valued at $3,486,000 after acquiring an additional 1,845 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of ManpowerGroup by 3.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 376,184 shares of the business services provider’s stock valued at $29,207,000 after acquiring an additional 14,121 shares in the last quarter. Institutional investors and hedge funds own 98.03% of the company’s stock.

Insiders Place Their Bets

In other ManpowerGroup news, CFO John T. Mcginnis bought 8,000 shares of ManpowerGroup stock in a transaction dated Wednesday, October 23rd. The stock was bought at an average price of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the acquisition, the chief financial officer now directly owns 70,639 shares of the company’s stock, valued at approximately $4,399,396.92. This trade represents a 12.77 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

ManpowerGroup Price Performance

NYSE MAN opened at $62.48 on Friday. ManpowerGroup Inc. has a 1 year low of $59.35 and a 1 year high of $80.25. The business’s fifty day moving average is $67.49 and its two-hundred day moving average is $70.65. The stock has a market capitalization of $2.93 billion, a P/E ratio of 79.09 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.15.

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

ManpowerGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.545 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 dividend on an annualized basis and a yield of 9.89%. ManpowerGroup’s dividend payout ratio is currently 389.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BMO Capital Markets cut their target price on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a research report on Friday, October 18th. Truist Financial dropped their price objective on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a research note on Friday, October 18th. Finally, UBS Group decreased their target price on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $76.60.

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.