Swiss National Bank Sells 1,900 Shares of ManpowerGroup Inc. (NYSE:MAN)

Swiss National Bank lessened its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 2.0% in the third quarter, Holdings Channel.com reports. The firm owned 93,200 shares of the business services provider’s stock after selling 1,900 shares during the period. Swiss National Bank’s holdings in ManpowerGroup were worth $6,852,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its holdings in ManpowerGroup by 346.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 51,855 shares of the business services provider’s stock valued at $3,812,000 after buying an additional 40,234 shares in the last quarter. Empowered Funds LLC lifted its stake in ManpowerGroup by 51.2% in the 3rd quarter. Empowered Funds LLC now owns 11,190 shares of the business services provider’s stock worth $823,000 after purchasing an additional 3,789 shares in the last quarter. Alexander Randolph Advisory Inc. boosted its holdings in ManpowerGroup by 2.3% in the 3rd quarter. Alexander Randolph Advisory Inc. now owns 32,603 shares of the business services provider’s stock valued at $2,397,000 after purchasing an additional 742 shares during the period. GSA Capital Partners LLP purchased a new position in shares of ManpowerGroup during the 3rd quarter valued at $205,000. Finally, Entropy Technologies LP increased its holdings in shares of ManpowerGroup by 70.7% in the third quarter. Entropy Technologies LP now owns 6,081 shares of the business services provider’s stock worth $447,000 after purchasing an additional 2,519 shares during the period. Institutional investors own 98.03% of the company’s stock.

Insiders Place Their Bets

In other news, CFO John T. Mcginnis purchased 8,000 shares of ManpowerGroup stock in a transaction that occurred on Wednesday, October 23rd. The shares were bought at an average cost of $62.28 per share, with a total value of $498,240.00. Following the completion of the purchase, the chief financial officer now directly 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on MAN shares. Truist Financial reduced their target price on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research report on Friday, October 18th. BMO Capital Markets cut their price objective on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a report on Friday, October 18th. Finally, UBS Group decreased their price objective on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock 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 stock. According to data from MarketBeat.com, ManpowerGroup has a consensus rating of “Hold” and a consensus price target of $76.60.

ManpowerGroup Price Performance

MAN opened at $64.14 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market capitalization of $3.01 billion, a PE ratio of 80.76 and a beta of 1.46. The stock’s 50 day moving average price is $67.35 and its 200-day moving average price is $70.53. ManpowerGroup Inc. has a 52-week low of $59.35 and a 52-week high of $80.25.

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

ManpowerGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.545 dividend. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 dividend on an annualized basis and a yield of 9.64%. The ex-dividend date is Monday, December 2nd. ManpowerGroup’s dividend payout ratio is presently 389.87%.

ManpowerGroup Company 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.