Nordea Investment Management AB Sells 7,005 Shares of ManpowerGroup Inc. (NYSE:MAN)

Nordea Investment Management AB decreased its position in shares of ManpowerGroup Inc. (NYSE:MANGet Rating) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,728 shares of the business services provider’s stock after selling 7,005 shares during the quarter. Nordea Investment Management AB owned about 0.53% of ManpowerGroup worth $27,342,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its holdings in shares of ManpowerGroup by 0.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 13,900 shares of the business services provider’s stock worth $1,353,000 after buying an additional 100 shares in the last quarter. Capital Insight Partners LLC grew its stake in ManpowerGroup by 0.5% during the fourth quarter. Capital Insight Partners LLC now owns 34,192 shares of the business services provider’s stock valued at $3,328,000 after acquiring an additional 186 shares in the last quarter. Lazard Asset Management LLC grew its stake in ManpowerGroup by 28.7% during the fourth quarter. Lazard Asset Management LLC now owns 887 shares of the business services provider’s stock valued at $86,000 after acquiring an additional 198 shares in the last quarter. State of Michigan Retirement System grew its stake in ManpowerGroup by 1.5% during the fourth quarter. State of Michigan Retirement System now owns 13,749 shares of the business services provider’s stock valued at $1,338,000 after acquiring an additional 200 shares in the last quarter. Finally, Commerce Bank grew its stake in ManpowerGroup by 9.7% during the fourth quarter. Commerce Bank now owns 3,573 shares of the business services provider’s stock valued at $347,000 after acquiring an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 95.26% of the company’s stock.

Several equities analysts recently commented on MAN shares. Robert W. Baird reduced their price objective on shares of ManpowerGroup from $144.00 to $120.00 in a research note on Wednesday, April 20th. Credit Suisse Group reduced their price objective on shares of ManpowerGroup from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, April 20th. BMO Capital Markets cut shares of ManpowerGroup from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $120.00 to $84.00 in a research note on Thursday, May 26th. Bank of America began coverage on shares of ManpowerGroup in a research report on Friday, March 11th. They set an “underperform” rating for the company. Finally, StockNews.com lowered shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research report on Friday, June 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $113.80.

Shares of ManpowerGroup stock opened at $78.59 on Thursday. ManpowerGroup Inc. has a 1 year low of $74.13 and a 1 year high of $123.84. The firm has a market cap of $4.14 billion, a PE ratio of 10.49, a PEG ratio of 1.01 and a beta of 1.77. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.12 and a quick ratio of 1.12. The company has a 50 day simple moving average of $88.06 and a two-hundred day simple moving average of $95.46.

ManpowerGroup (NYSE:MANGet Rating) last announced its quarterly earnings data on Tuesday, April 19th. The business services provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.32. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.08 billion. ManpowerGroup had a net margin of 1.97% and a return on equity of 17.72%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.11 EPS. As a group, research analysts anticipate that ManpowerGroup Inc. will post 9.08 earnings per share for the current year.

The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were issued a $1.36 dividend. This represents a dividend yield of 3%. This is a positive change from ManpowerGroup’s previous Semi-Annual dividend of $1.26. The ex-dividend date was Tuesday, May 31st. ManpowerGroup’s payout ratio is presently 36.32%.

In other news, Director Ulice Payne, Jr. sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $86.69, for a total value of $52,014.00. Following the completion of the sale, the director now directly owns 8,532 shares in the company, valued at approximately $739,639.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

ManpowerGroup Company Profile (Get Rating)

ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. 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.

Further Reading

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Institutional Ownership by Quarter for ManpowerGroup (NYSE:MAN)

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