State of New Jersey Common Pension Fund D Purchases 887 Shares of ManpowerGroup Inc. (NYSE:MAN)

State of New Jersey Common Pension Fund D lifted its position in shares of ManpowerGroup Inc. (NYSE:MAN) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,947 shares of the business services provider’s stock after acquiring an additional 887 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in ManpowerGroup were worth $1,981,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. increased its stake in shares of ManpowerGroup by 122.0% in the third quarter. Crossmark Global Holdings Inc. now owns 27,295 shares of the business services provider’s stock worth $2,007,000 after purchasing an additional 15,000 shares in the last quarter. Covestor Ltd grew its stake in ManpowerGroup by 66.8% in the 3rd quarter. Covestor Ltd now owns 2,280 shares of the business services provider’s stock valued at $168,000 after buying an additional 913 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in ManpowerGroup in the 3rd quarter valued at approximately $54,000. M&G PLC raised its holdings in ManpowerGroup by 4.4% during the 3rd quarter. M&G PLC now owns 85,658 shares of the business services provider’s stock valued at $6,339,000 after acquiring an additional 3,615 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of ManpowerGroup by 4.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 403,070 shares of the business services provider’s stock worth $29,634,000 after acquiring an additional 15,407 shares in the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.

ManpowerGroup Trading Down 2.3 %

Shares of MAN opened at $61.70 on Friday. ManpowerGroup Inc. has a 1-year low of $61.35 and a 1-year high of $80.25. The company has a market capitalization of $2.90 billion, a P/E ratio of 78.10 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.14. The firm’s 50 day simple moving average is $68.39 and its 200 day simple moving average is $71.17.

ManpowerGroup (NYSE:MAN) last posted its quarterly earnings data on Thursday, October 17th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Sell-side analysts forecast that ManpowerGroup Inc. will post 4.55 earnings per share for the current fiscal year.

ManpowerGroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.545 per share. This is a boost from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 dividend on an annualized basis and a yield of 10.02%. The ex-dividend date of this dividend is Monday, December 2nd. ManpowerGroup’s dividend payout ratio (DPR) is presently 389.87%.

Insiders Place Their Bets

In other ManpowerGroup news, CFO John T. Mcginnis bought 8,000 shares of ManpowerGroup stock in a transaction that occurred on Wednesday, October 23rd. The shares were bought at an average price of $62.28 per share, with a total value of $498,240.00. Following the acquisition, the chief financial officer now owns 70,639 shares in the company, valued at approximately $4,399,396.92. This trade represents a 12.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MAN shares. Truist Financial decreased 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. BMO Capital Markets decreased their target price on shares of 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 cut their price target on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, ManpowerGroup currently has a consensus rating of “Hold” and a consensus price target of $76.60.

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.