Virtu Financial LLC Makes New Investment in ManpowerGroup Inc. (NYSE:MAN)

Virtu Financial LLC acquired a new stake in shares of ManpowerGroup Inc. (NYSE:MAN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,034 shares of the business services provider’s stock, valued at approximately $664,000.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC purchased a new stake in ManpowerGroup during the 2nd quarter valued at $667,000. Wealth Enhancement Advisory Services LLC increased its position in ManpowerGroup by 8.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,749 shares of the business services provider’s stock valued at $401,000 after acquiring an additional 472 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of ManpowerGroup by 133.4% in the second quarter. Nisa Investment Advisors LLC now owns 5,530 shares of the business services provider’s stock valued at $386,000 after acquiring an additional 3,161 shares during the period. Pallas Capital Advisors LLC bought a new stake in shares of ManpowerGroup in the 2nd quarter worth about $384,000. Finally, SummerHaven Investment Management LLC boosted its stake in shares of ManpowerGroup by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 9,029 shares of the business services provider’s stock worth $630,000 after purchasing an additional 207 shares during the period. 98.03% of the stock is owned by institutional investors.

ManpowerGroup Price Performance

Shares of MAN stock opened at $61.18 on Friday. The company has a market capitalization of $2.87 billion, a P/E ratio of 77.44 and a beta of 1.45. The company’s 50-day simple moving average is $64.46 and its two-hundred day simple moving average is $69.26. ManpowerGroup Inc. has a one year low of $59.35 and a one year high of $80.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.15.

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

ManpowerGroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.545 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.18 annualized dividend and a dividend yield of 10.10%. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. ManpowerGroup’s dividend payout ratio (DPR) is currently 389.87%.

Insider Activity at ManpowerGroup

In other ManpowerGroup news, CFO John T. Mcginnis bought 8,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were acquired at an average price of $62.28 per share, with a total value of $498,240.00. Following the transaction, the chief financial officer now 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on MAN shares. BMO Capital Markets reduced their price objective 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. Truist Financial reduced their price target on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a report on Friday, October 18th. Finally, UBS Group decreased their price target 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.