Janney Montgomery Scott LLC Takes Position in ManpowerGroup Inc. (NYSE:MAN)

Janney Montgomery Scott LLC acquired a new stake in ManpowerGroup Inc. (NYSE:MAN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,322 shares of the business services provider’s stock, valued at approximately $887,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of ManpowerGroup by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,493,838 shares of the business services provider’s stock worth $143,942,000 after buying an additional 59,763 shares during the last quarter. AQR Capital Management LLC grew its position in ManpowerGroup by 45.8% in the fourth quarter. AQR Capital Management LLC now owns 2,262,265 shares of the business services provider’s stock worth $130,125,000 after acquiring an additional 711,043 shares during the period. Invesco Ltd. increased its stake in ManpowerGroup by 4.2% during the fourth quarter. Invesco Ltd. now owns 1,916,543 shares of the business services provider’s stock worth $110,623,000 after acquiring an additional 77,234 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in ManpowerGroup by 73.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,027,000 shares of the business services provider’s stock worth $59,443,000 after acquiring an additional 434,480 shares during the last quarter. Finally, Millennium Management LLC raised its position in ManpowerGroup by 137.0% in the fourth quarter. Millennium Management LLC now owns 811,595 shares of the business services provider’s stock valued at $46,845,000 after purchasing an additional 469,184 shares during the period. 98.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on MAN. Barclays upgraded shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $55.00 to $50.00 in a report on Thursday, April 10th. Wall Street Zen upgraded shares of ManpowerGroup from a “sell” rating to a “hold” rating in a report on Friday. BMO Capital Markets dropped their target price on shares of ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating for the company in a report on Monday, April 21st. Truist Financial cut their target price on ManpowerGroup from $55.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. Finally, 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. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.60.

ManpowerGroup Price Performance

ManpowerGroup stock opened at $40.39 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.46. ManpowerGroup Inc. has a 52-week low of $37.99 and a 52-week high of $78.22. The firm has a market cap of $1.87 billion, a PE ratio of 17.56 and a beta of 1.08. The company’s 50 day moving average is $41.62 and its two-hundred day moving average is $51.28.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings data 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). The company had revenue of $698.30 million during the quarter, compared to analyst estimates of $3.94 billion. ManpowerGroup had a net margin of 0.63% and a return on equity of 9.10%. During the same quarter in the previous year, the business posted $0.94 earnings per share. On average, research analysts expect 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 was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.72 per share. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, June 2nd. ManpowerGroup’s dividend payout ratio is presently 62.61%.

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.