Rhumbline Advisers Trims Holdings in ManpowerGroup Inc. (NYSE:MAN)

Rhumbline Advisers cut its stake in ManpowerGroup Inc. (NYSE:MAN) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 131,171 shares of the business services provider’s stock after selling 1,176 shares during the quarter. Rhumbline Advisers owned about 0.28% of ManpowerGroup worth $7,592,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MAN. Wilmington Savings Fund Society FSB grew its position in shares of ManpowerGroup by 209.3% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 8,718 shares of the business services provider’s stock valued at $503,000 after purchasing an additional 5,899 shares in the last quarter. Empowered Funds LLC boosted its stake in ManpowerGroup by 16.4% during the fourth quarter. Empowered Funds LLC now owns 13,021 shares of the business services provider’s stock valued at $752,000 after buying an additional 1,831 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in ManpowerGroup by 29.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 34,760 shares of the business services provider’s stock valued at $2,006,000 after buying an additional 7,813 shares during the period. KLCM Advisors Inc. boosted its stake in ManpowerGroup by 153.9% during the fourth quarter. KLCM Advisors Inc. now owns 296,594 shares of the business services provider’s stock valued at $17,119,000 after buying an additional 179,788 shares during the period. Finally, Convergence Investment Partners LLC bought a new stake in ManpowerGroup during the fourth quarter valued at $743,000. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MAN shares. UBS Group dropped their price objective on ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. BMO Capital Markets dropped their price objective on ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. dropped their price objective on ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Truist Financial dropped their price objective on ManpowerGroup from $55.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, April 21st. Finally, Wall Street Zen lowered ManpowerGroup from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.50.

ManpowerGroup Trading Up 4.9%

Shares of MAN stock opened at $42.74 on Wednesday. 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 business has a 50-day moving average price of $43.89 and a two-hundred day moving average price of $53.55. ManpowerGroup Inc. has a 12-month low of $38.10 and a 12-month high of $78.22. The firm has a market cap of $1.98 billion, a P/E ratio of 14.29 and a beta of 1.08.

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

ManpowerGroup Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.72 dividend. The ex-dividend date is Monday, June 2nd. This represents a dividend yield of 3.5%. ManpowerGroup’s dividend payout ratio is currently 62.61%.

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.