Allspring Global Investments Holdings LLC Buys 23,795 Shares of ManpowerGroup Inc. (NYSE:MAN)

Allspring Global Investments Holdings LLC raised its stake in shares of ManpowerGroup Inc. (NYSE:MAN) by 79.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,703 shares of the business services provider’s stock after acquiring an additional 23,795 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.11% of ManpowerGroup worth $3,150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MAN. Colonial Trust Co SC bought a new stake in ManpowerGroup during the 4th quarter valued at $28,000. Fifth Third Bancorp boosted its position in ManpowerGroup by 48.6% during the 1st quarter. Fifth Third Bancorp now owns 743 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 243 shares in the last quarter. GAMMA Investing LLC boosted its position in ManpowerGroup by 190.6% during the 1st quarter. GAMMA Investing LLC now owns 744 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 488 shares in the last quarter. UMB Bank n.a. boosted its position in shares of ManpowerGroup by 131.7% in the 1st quarter. UMB Bank n.a. now owns 899 shares of the business services provider’s stock worth $52,000 after purchasing an additional 511 shares in the last quarter. Finally, WFA Asset Management Corp boosted its position in shares of ManpowerGroup by 129.3% in the 1st quarter. WFA Asset Management Corp now owns 1,376 shares of the business services provider’s stock worth $80,000 after purchasing an additional 776 shares in the last quarter. Institutional investors own 98.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MAN shares. Truist Financial lowered their price objective on ManpowerGroup from $55.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, April 21st. BMO Capital Markets reduced their target price 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. Barclays upgraded ManpowerGroup from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $55.00 to $50.00 in a research note on Thursday, April 10th. Wall Street Zen upgraded ManpowerGroup from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. reduced 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 equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, ManpowerGroup currently has an average rating of “Hold” and an average price target of $50.60.

ManpowerGroup Price Performance

Shares of ManpowerGroup stock opened at $44.32 on Monday. 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 twelve month low of $37.99 and a twelve month high of $78.22. The business has a 50-day moving average price of $41.73 and a 200 day moving average price of $50.88. The firm has a market cap of $2.05 billion, a PE ratio of 19.27 and a beta of 1.07.

ManpowerGroup (NYSE:MAN) last posted 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). ManpowerGroup had a return on equity of 9.10% and a net margin of 0.63%. The firm had revenue of $698.30 million during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Sell-side analysts predict that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

ManpowerGroup Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued 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 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.