Raymond James Financial Inc. Takes $875,000 Position in ManpowerGroup Inc. (NYSE:MAN)

Raymond James Financial Inc. purchased a new position in shares of ManpowerGroup Inc. (NYSE:MAN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 15,166 shares of the business services provider’s stock, valued at approximately $875,000.

A number of other hedge funds also recently modified their holdings of MAN. Vaughan Nelson Investment Management L.P. purchased a new stake in ManpowerGroup in the fourth quarter worth $34,200,000. Norges Bank bought a new position in shares of ManpowerGroup during the 4th quarter worth $27,706,000. Prudential Financial Inc. increased its holdings in ManpowerGroup by 111.7% in the 4th quarter. Prudential Financial Inc. now owns 364,515 shares of the business services provider’s stock worth $21,040,000 after acquiring an additional 192,345 shares during the last quarter. Bank of New York Mellon Corp raised its stake in ManpowerGroup by 34.5% in the 4th quarter. Bank of New York Mellon Corp now owns 748,246 shares of the business services provider’s stock valued at $43,189,000 after acquiring an additional 191,901 shares during the period. Finally, KLCM Advisors Inc. raised its stake in ManpowerGroup by 153.9% in the 4th quarter. KLCM Advisors Inc. now owns 296,594 shares of the business services provider’s stock valued at $17,119,000 after acquiring an additional 179,788 shares during the period. Institutional investors own 98.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MAN. UBS Group reduced their target price on shares of ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Barclays raised shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $55.00 to $50.00 in a report on Thursday, April 10th. JPMorgan Chase & Co. cut their price target on ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, April 21st. BMO Capital Markets reduced their price target on ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating for the company in a research report on Monday, April 21st. Finally, Truist Financial dropped their price objective on ManpowerGroup from $55.00 to $48.00 and set a “hold” rating on the stock in a report on Monday, April 21st. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, ManpowerGroup has a consensus rating of “Hold” and an average target price of $57.50.

ManpowerGroup Trading Down 7.8 %

Shares of MAN stock opened at $40.79 on Tuesday. The business has a 50-day moving average price of $52.70 and a two-hundred day moving average price of $57.31. ManpowerGroup Inc. has a 12-month low of $39.22 and a 12-month high of $78.87. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The firm has a market cap of $1.91 billion, a P/E ratio of 13.64 and a beta of 1.28.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Thursday, April 17th. The business services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.08). ManpowerGroup had a net margin of 0.81% and a return on equity of 10.19%. The company had revenue of $698.30 million for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the company earned $0.94 earnings per share. Equities analysts anticipate that ManpowerGroup Inc. will post 4.23 EPS for the current fiscal year.

ManpowerGroup Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.72 dividend. This represents a yield of 3.5%. The ex-dividend date of this dividend is Monday, June 2nd. ManpowerGroup’s dividend payout ratio (DPR) is currently 133.91%.

ManpowerGroup Company 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.