Arizona State Retirement System Sells 307 Shares of ManpowerGroup Inc. (NYSE:MAN)

Arizona State Retirement System lessened its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,464 shares of the business services provider’s stock after selling 307 shares during the quarter. Arizona State Retirement System’s holdings in ManpowerGroup were worth $779,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of ManpowerGroup in the fourth quarter valued at about $875,000. PNC Financial Services Group Inc. increased its position in shares of ManpowerGroup by 34.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,301 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 587 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of ManpowerGroup by 89.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,218 shares of the business services provider’s stock valued at $301,000 after acquiring an additional 2,463 shares during the last quarter. Xponance Inc. increased its position in shares of ManpowerGroup by 11.7% in the fourth quarter. Xponance Inc. now owns 7,446 shares of the business services provider’s stock valued at $430,000 after acquiring an additional 782 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of ManpowerGroup by 21.5% in the fourth quarter. Teacher Retirement System of Texas now owns 118,854 shares of the business services provider’s stock valued at $6,860,000 after acquiring an additional 21,055 shares during the last quarter. Institutional investors and hedge funds own 98.03% of the company’s stock.

ManpowerGroup Stock Down 2.5%

MAN opened at $42.18 on Tuesday. The company has a market capitalization of $1.95 billion, a PE ratio of 12.25 and a beta of 1.07. ManpowerGroup Inc. has a 1-year low of $37.99 and a 1-year high of $77.85. The firm’s 50 day simple moving average is $42.17 and its two-hundred day simple moving average is $49.95. The company has a current ratio of 0.98, a quick ratio of 1.12 and a debt-to-equity ratio of 0.24.

ManpowerGroup (NYSE:MAN) last issued its quarterly earnings data on Thursday, July 17th. The business services provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. ManpowerGroup had a negative net margin of 0.09% and a positive return on equity of 7.98%. The business had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same period last year, the company posted $1.30 EPS. The business’s revenue was down .5% on a year-over-year basis. As a group, equities analysts forecast that ManpowerGroup Inc. will post 4.23 EPS for the current year.

ManpowerGroup Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.72 per share. The ex-dividend date was Monday, June 2nd. This represents a yield of 3.5%. ManpowerGroup’s payout ratio is -378.95%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MAN shares. Barclays upgraded ManpowerGroup from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $55.00 to $50.00 in a research note on Thursday, April 10th. UBS Group upped their target price on ManpowerGroup from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Truist Financial cut their target price on ManpowerGroup from $55.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, April 21st. 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. dropped their price target 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 analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $48.20.

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.