GSA Capital Partners LLP Reduces Stock Position in ManpowerGroup Inc. (NYSE:MAN)

GSA Capital Partners LLP lowered its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 46.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,644 shares of the business services provider’s stock after selling 38,798 shares during the quarter. ManpowerGroup accounts for 0.2% of GSA Capital Partners LLP’s portfolio, making the stock its 24th biggest holding. GSA Capital Partners LLP owned about 0.10% of ManpowerGroup worth $2,584,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MAN. AQR Capital Management LLC boosted its holdings in ManpowerGroup by 45.8% during the 4th quarter. AQR Capital Management LLC now owns 2,262,265 shares of the business services provider’s stock valued at $130,125,000 after acquiring an additional 711,043 shares during the period. ARGA Investment Management LP boosted its holdings in ManpowerGroup by 539.8% during the 1st quarter. ARGA Investment Management LP now owns 587,048 shares of the business services provider’s stock valued at $33,978,000 after acquiring an additional 495,296 shares during the period. Norges Bank purchased a new position in ManpowerGroup during the 4th quarter valued at $27,706,000. Millennium Management LLC lifted its holdings in shares of ManpowerGroup by 137.0% in the 4th quarter. Millennium Management LLC now owns 811,595 shares of the business services provider’s stock worth $46,845,000 after buying an additional 469,184 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of ManpowerGroup by 73.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,027,000 shares of the business services provider’s stock worth $59,443,000 after buying an additional 434,480 shares during the period. Hedge funds and other institutional investors own 98.03% of the company’s stock.

Analysts Set New Price Targets

MAN has been the subject of several research reports. Truist Financial lowered their target price on ManpowerGroup from $55.00 to $48.00 and set a “hold” rating for the company in a report on Monday, April 21st. UBS Group upped their target price on ManpowerGroup from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Barclays upgraded ManpowerGroup from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $55.00 to $50.00 in a report on Thursday, April 10th. Wall Street Zen upgraded ManpowerGroup from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. lowered their target price on ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, ManpowerGroup has an average rating of “Hold” and an average target price of $48.20.

ManpowerGroup Trading Down 1.0%

MAN opened at $45.23 on Tuesday. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -119.02 and a beta of 1.07. The company has a current ratio of 0.98, a quick ratio of 1.12 and a debt-to-equity ratio of 0.24. ManpowerGroup Inc. has a 12 month low of $37.99 and a 12 month high of $77.85. The stock has a fifty day moving average price of $42.27 and a 200-day moving average price of $49.47.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings results on Thursday, July 17th. The business services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.69 by $0.09. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.34 billion. ManpowerGroup had a positive return on equity of 7.98% and a negative net margin of 0.09%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 EPS. As a group, equities research analysts anticipate that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

ManpowerGroup Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.72 per share. This represents a yield of 3.5%. The ex-dividend date was Monday, June 2nd. ManpowerGroup’s dividend payout ratio is currently -378.95%.

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.