Raymond James & Associates Sells 1,791 Shares of ManpowerGroup Inc. (NYSE:MAN)

Raymond James & Associates reduced its position in ManpowerGroup Inc. (NYSE:MAN) by 18.1% during the second quarter, HoldingsChannel reports. The firm owned 8,110 shares of the business services provider’s stock after selling 1,791 shares during the period. Raymond James & Associates’ holdings in ManpowerGroup were worth $644,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Capital Insight Partners LLC boosted its stake in shares of ManpowerGroup by 4.2% in the 1st quarter. Capital Insight Partners LLC now owns 3,465 shares of the business services provider’s stock valued at $286,000 after purchasing an additional 140 shares during the last quarter. Strengthening Families & Communities LLC boosted its stake in ManpowerGroup by 8.1% during the first quarter. Strengthening Families & Communities LLC now owns 1,965 shares of the business services provider’s stock worth $10,468,000 after acquiring an additional 147 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in ManpowerGroup by 0.7% during the first quarter. Treasurer of the State of North Carolina now owns 21,963 shares of the business services provider’s stock worth $1,813,000 after acquiring an additional 150 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in ManpowerGroup by 9.1% during the first quarter. Belpointe Asset Management LLC now owns 2,295 shares of the business services provider’s stock worth $189,000 after acquiring an additional 192 shares in the last quarter. Finally, GHE LLC raised its holdings in ManpowerGroup by 2.0% during the first quarter. GHE LLC now owns 10,342 shares of the business services provider’s stock worth $854,000 after buying an additional 204 shares during the last quarter. 96.78% of the stock is owned by institutional investors.

ManpowerGroup Stock Performance

NYSE MAN opened at $73.56 on Tuesday. ManpowerGroup Inc. has a 52-week low of $67.35 and a 52-week high of $92.43. The company has a 50-day simple moving average of $73.25 and a 200 day simple moving average of $75.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market capitalization of $3.65 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 6.81 and a beta of 1.66.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Thursday, October 19th. The business services provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The firm had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.70 billion. ManpowerGroup had a net margin of 1.16% and a return on equity of 13.80%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business earned $2.21 earnings per share. On average, research analysts predict that ManpowerGroup Inc. will post 5.78 EPS for the current year.

Insiders Place Their Bets

In other ManpowerGroup news, Director Ulice Payne, Jr. sold 1,100 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $77.30, for a total transaction of $85,030.00. Following the completion of the transaction, the director now owns 8,620 shares in the company, valued at $666,326. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

MAN has been the topic of several research reports. UBS Group lowered their price objective on shares of ManpowerGroup from $82.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, October 12th. BMO Capital Markets lowered their price objective on shares of ManpowerGroup from $88.00 to $79.00 and set a “market perform” rating on the stock in a report on Friday, October 20th. Robert W. Baird lowered their price objective on shares of ManpowerGroup from $97.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, July 21st. Truist Financial lowered their target price on shares of ManpowerGroup from $80.00 to $75.00 and set a “hold” rating for the company in a report on Friday, October 20th. Finally, StockNews.com upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, ManpowerGroup currently has an average rating of “Hold” and an average target price of $85.29.

About ManpowerGroup

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.