Shell Asset Management Co. trimmed its stake in shares of ManpowerGroup Inc. (NYSE:MAN – Get Rating) by 12.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,788 shares of the business services provider’s stock after selling 1,004 shares during the period. Shell Asset Management Co.’s holdings in ManpowerGroup were worth $638,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of MAN. State of Michigan Retirement System lifted its position in shares of ManpowerGroup by 1.5% during the 4th 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 during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of ManpowerGroup during the 4th quarter valued at approximately $11,186,000. Illinois Municipal Retirement Fund lifted its position in shares of ManpowerGroup by 28.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 22,833 shares of the business services provider’s stock valued at $2,222,000 after acquiring an additional 5,079 shares during the period. Yousif Capital Management LLC acquired a new stake in shares of ManpowerGroup during the 4th quarter valued at approximately $3,087,000. Finally, Qube Research & Technologies Ltd increased its stake in shares of ManpowerGroup by 40.7% during the 4th quarter. Qube Research & Technologies Ltd now owns 23,057 shares of the business services provider’s stock worth $2,244,000 after purchasing an additional 6,670 shares in the last quarter. 95.26% of the stock is currently owned by institutional investors and hedge funds.
ManpowerGroup Stock Up 0.2 %
MAN stock opened at $78.59 on Tuesday. The stock has a market capitalization of $4.14 billion, a P/E ratio of 10.13, a PEG ratio of 0.81 and a beta of 1.70. The company has a 50 day moving average price of $80.41 and a two-hundred day moving average price of $91.47. ManpowerGroup Inc. has a one year low of $73.66 and a one year high of $123.84. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.12 and a current ratio of 1.19.
ManpowerGroup Increases Dividend
The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were issued a $1.36 dividend. This represents a dividend yield of 3%. The ex-dividend date of this dividend was Tuesday, May 31st. This is a positive change from ManpowerGroup’s previous Semi-Annual dividend of $1.26. ManpowerGroup’s dividend payout ratio (DPR) is 35.05%.
Wall Street Analysts Forecast Growth
MAN has been the subject of a number of recent research reports. Barclays dropped their price objective on shares of ManpowerGroup from $100.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, July 22nd. Robert W. Baird dropped their price objective on shares of ManpowerGroup from $120.00 to $94.00 in a research note on Friday, July 15th. BMO Capital Markets cut shares of ManpowerGroup from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $120.00 to $84.00 in a research note on Thursday, May 26th. StockNews.com cut shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Finally, Credit Suisse Group dropped their price objective on shares of ManpowerGroup to $80.00 in a research note on Friday, July 22nd. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $82.67.
Insider Buying and Selling at ManpowerGroup
In other ManpowerGroup news, Director Ulice Payne, Jr. sold 600 shares of ManpowerGroup stock in a transaction 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 transaction, the director now 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 can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.
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.
- Get a free copy of the StockNews.com research report on ManpowerGroup (MAN)
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