Versor Investments LP Lowers Stock Position in ManpowerGroup Inc. (NYSE:MAN)

Posted by Defense World Staff on Jan 10th, 2023

Versor Investments LP lessened its stake in shares of ManpowerGroup Inc. (NYSE:MAN – Get Rating) by 69.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,714 shares of the business services provider’s stock after selling 8,444 shares during the quarter. Versor Investments LP’s holdings in ManpowerGroup were worth $240,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MAN. Raymond James Financial Services Advisors Inc. purchased a new position in ManpowerGroup during the first quarter worth about $907,000. Cetera Advisor Networks LLC purchased a new position in ManpowerGroup during the first quarter worth about $267,000. Bank of Montreal Can boosted its stake in ManpowerGroup by 104.8% during the first quarter. Bank of Montreal Can now owns 21,293 shares of the business services provider’s stock worth $2,143,000 after buying an additional 10,894 shares during the period. MetLife Investment Management LLC lifted its position in shares of ManpowerGroup by 33.5% during the first quarter. MetLife Investment Management LLC now owns 35,079 shares of the business services provider’s stock worth $3,295,000 after purchasing an additional 8,794 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of ManpowerGroup by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,878 shares of the business services provider’s stock worth $1,867,000 after purchasing an additional 1,895 shares in the last quarter. Hedge funds and other institutional investors own 97.27% of the company’s stock.

ManpowerGroup Stock Performance

Shares of ManpowerGroup stock opened at $87.26 on Tuesday. The firm has a market capitalization of $4.41 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.40 and a beta of 1.69. ManpowerGroup Inc. has a 52 week low of $64.00 and a 52 week high of $115.54. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $84.46 and its two-hundred day moving average is $78.13.

ManpowerGroup (NYSE:MAN – Get Rating) last announced its quarterly earnings results on Thursday, October 20th. The business services provider reported $2.21 EPS for the quarter, beating the consensus estimate of $2.18 by $0.03. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.90 billion. ManpowerGroup had a net margin of 2.14% and a return on equity of 18.63%. Research analysts forecast that ManpowerGroup Inc. will post 8.56 EPS for the current fiscal year.

ManpowerGroup Dividend Announcement

The business also recently declared a Semi-Annual dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were paid a $1.36 dividend. The ex-dividend date was Wednesday, November 30th. This represents a yield of 3.2%. ManpowerGroup’s dividend payout ratio is currently 33.50%.

Analyst Upgrades and Downgrades

MAN has been the topic of several research reports. Jefferies Financial Group reissued a “hold” rating and set a $72.00 price target on shares of ManpowerGroup in a research report on Tuesday, October 25th. Barclays reduced their price target on shares of ManpowerGroup from $80.00 to $70.00 and set an “underweight” rating on the stock in a research report on Monday, October 10th. BNP Paribas initiated coverage on shares of ManpowerGroup in a research report on Thursday, January 5th. They set an “outperform” rating and a $95.00 price target on the stock. StockNews.com started coverage on shares of ManpowerGroup in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Robert W. Baird raised their target price on shares of ManpowerGroup from $88.00 to $94.00 in a report on Friday, October 21st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $80.11.

ManpowerGroup Company Profile

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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.