Allianz Asset Management GmbH Acquires 61,318 Shares of ManpowerGroup Inc. $MAN

Allianz Asset Management GmbH increased its holdings in ManpowerGroup Inc. (NYSE:MAN) by 12.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 552,650 shares of the business services provider’s stock after purchasing an additional 61,318 shares during the quarter. Allianz Asset Management GmbH owned 1.19% of ManpowerGroup worth $20,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its holdings in shares of ManpowerGroup by 11.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,756 shares of the business services provider’s stock worth $111,000 after buying an additional 280 shares during the period. Huntington National Bank grew its position in ManpowerGroup by 41.6% during the 2nd quarter. Huntington National Bank now owns 997 shares of the business services provider’s stock worth $40,000 after acquiring an additional 293 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in ManpowerGroup by 1.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 21,513 shares of the business services provider’s stock worth $869,000 after purchasing an additional 296 shares during the period. True Wealth Design LLC lifted its position in ManpowerGroup by 72.5% in the third quarter. True Wealth Design LLC now owns 802 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 337 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of ManpowerGroup by 3.6% during the second quarter. Cetera Investment Advisers now owns 10,096 shares of the business services provider’s stock valued at $408,000 after purchasing an additional 348 shares during the period. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group set a $35.00 target price on shares of ManpowerGroup in a research note on Friday, January 30th. Argus upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Tuesday. Robert W. Baird set a $50.00 price objective on shares of ManpowerGroup in a research note on Friday, January 30th. BMO Capital Markets raised ManpowerGroup from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Thursday, December 18th. Finally, The Goldman Sachs Group boosted their price target on ManpowerGroup from $27.00 to $30.00 and gave the company a “sell” rating in a report on Tuesday. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.13.

ManpowerGroup Trading Up 0.1%

Shares of MAN opened at $36.67 on Friday. ManpowerGroup Inc. has a 1-year low of $26.14 and a 1-year high of $63.35. The company has a current ratio of 1.11, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $30.52 and its 200-day moving average price is $34.62. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -122.23 and a beta of 0.88.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings results on Thursday, January 29th. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The company had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.63 billion. ManpowerGroup had a negative net margin of 0.07% and a positive return on equity of 6.81%. ManpowerGroup’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 earnings per share. Sell-side analysts anticipate that ManpowerGroup Inc. will post 4.23 EPS for the current year.

About ManpowerGroup

ManpowerGroup (NYSE: MAN) is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.

The company’s service offerings are organized into four principal brands.