Thrivent Financial for Lutherans Purchases 40,234 Shares of ManpowerGroup Inc. (NYSE:MAN)

Thrivent Financial for Lutherans boosted its position in shares of ManpowerGroup Inc. (NYSE:MAN) by 346.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 51,855 shares of the business services provider’s stock after buying an additional 40,234 shares during the quarter. Thrivent Financial for Lutherans’ holdings in ManpowerGroup were worth $3,812,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of ManpowerGroup by 248.3% during the third quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock worth $37,000 after buying an additional 375 shares during the last quarter. Abich Financial Wealth Management LLC raised its position in shares of ManpowerGroup by 62.4% during the 1st quarter. Abich Financial Wealth Management LLC now owns 583 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 224 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of ManpowerGroup in the 2nd quarter valued at $47,000. Advisors Asset Management Inc. acquired a new position in shares of ManpowerGroup in the 1st quarter valued at $49,000. Finally, Innealta Capital LLC bought a new position in shares of ManpowerGroup in the 2nd quarter worth $50,000. 98.03% of the stock is currently owned by institutional investors and hedge funds.

ManpowerGroup Trading Up 2.8 %

NYSE:MAN opened at $62.48 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.15. The business’s 50-day simple moving average is $67.49 and its 200-day simple moving average is $70.61. ManpowerGroup Inc. has a fifty-two week low of $59.35 and a fifty-two week high of $80.25. The stock has a market capitalization of $2.93 billion, a PE ratio of 79.09 and a beta of 1.46.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings results 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 company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Sell-side analysts expect that ManpowerGroup Inc. will post 4.55 earnings per share for the current fiscal year.

ManpowerGroup Increases Dividend

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

Insider Buying and Selling at ManpowerGroup

In other news, CFO John T. Mcginnis acquired 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was acquired at an average cost of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the acquisition, the chief financial officer now owns 70,639 shares in the company, valued at $4,399,396.92. This represents a 12.77 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

MAN has been the topic of several analyst reports. Truist Financial cut their target price 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 cut their price target on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research report on Friday, October 18th. Finally, UBS Group decreased their price objective 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 equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.