Hennion & Walsh Asset Management Inc. reduced its stake in ManpowerGroup Inc. (NYSE:MAN – Get Rating) by 5.3% during the first quarter, Holdings Channel reports. The company held 2,319 shares of the business services provider after selling 131 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in ManpowerGroup were worth $218,000 at the end of the most recent period.
Other hedge funds have also recently changed their holdings in the company. Fifth Third Bancorp increased its position in ManpowerGroup shares by 88.6% in the first quarter. Fifth Third Bancorp now owns 347 shares of the business services provider worth $33,000 after buying an additional 163 shares during the period. Quent Capital LLC bought a new position in ManpowerGroup stock in the fourth quarter worth $50,000. Covestor Ltd bought a new position in shares of ManpowerGroup in the fourth quarter worth $67,000. Lazard Asset Management LLC increased its position in ManpowerGroup shares by 28.7% in the fourth quarter. Lazard Asset Management LLC now owns 887 shares of the business services provider worth $86,000 after purchasing an additional 198 shares during the period. Finally, Balasa Dinverno & Foltz LLC increased its position in ManpowerGroup by 9.9% in the first quarter. Balasa Dinverno & Foltz LLC now owns 2,329 shares of the business services provider valued at $219,000 after acquiring 209 additional shares in the last quarter. Institutional investors hold 95.26% of the company’s shares.
Performance of ManpowerGroup shares
MAN shares opened at $76.48 on Friday. The company’s 50-day moving average price is $83.21 and its 200-day moving average price is $93.44. ManpowerGroup Inc. has a 12-month low of $73.76 and a 12-month high of $123.84. The company has a market capitalization of $4.03 billion, a price-earnings ratio of 10.21, a PEG ratio of 1.04 and a beta of 1.76. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt ratio of 0.22.
ManpowerGroup (NYSE:MAN – Get Rating) last reported quarterly results on Tuesday, April 19. The business services provider reported EPS of $1.88 for the quarter, beating consensus analyst estimates of $1.56 by $0.32. ManpowerGroup achieved a return on equity of 17.72% and a net margin of 1.97%. The company posted revenue of $5.14 billion for the quarter, versus analyst estimates of $5.08 billion. During the same period last year, the company posted earnings per share of $1.11. The company’s revenue for the quarter increased 4.4% year over year. Equity research analysts expect ManpowerGroup Inc. to post EPS of 8.97 for the current year.
ManpowerGroup increases its dividend
The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, June 15. Investors of record on Wednesday, June 1 received a dividend of $1.36. This is a positive change from ManpowerGroup’s previous semi-annual dividend of $1.26. This represents a dividend yield of 3%. The ex-dividend date was Tuesday, May 31. ManpowerGroup’s payout ratio is currently 36.32%.
Analysts set new price targets
MAN has been the subject of a number of recent analyst reports. Truist Financial has downgraded ManpowerGroup from a “buy” rating to a “hold” rating and set a target price of $80.00 for the stock. in a research report Friday. StockNews.com upgraded ManpowerGroup from a “buy” to a “hold” rating in a Monday, July 11 research report. BMO Capital Markets downgraded ManpowerGroup from an ‘outperforming’ rating to a ‘market performing’ rating and lowered its target price for the company from $120.00 to $84.00 in a Thursday research report May 26. JPMorgan Chase & Co. downgraded ManpowerGroup from an “overweight” rating to a “neutral” rating and lowered its target price for the company from $145.00 to $78.00 in a Monday, July 11 research report . Finally, Credit Suisse Group cut its price target on ManpowerGroup from $115.00 to $105.00 and set a “neutral” rating on the stock in a Wednesday, April 20 research report. Two equity research analysts gave the stock a sell rating and five gave the company a hold rating. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $93.50.
Insider buying and selling
In related news, director Ulice Payne, Jr. sold 600 shares of ManpowerGroup in a trade that took place on Wednesday, June 1. The stock was sold at an average price of $86.69, for a total value of $52,014.00. Following the transaction, the administrator now directly owns 8,532 shares of the company, valued at $739,639.08. The transaction was disclosed in a legal filing with the SEC, which is available via this hyperlink. 1.90% of the shares are held by insiders.
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ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe and the Asia-Pacific Middle East region. 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.
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