Federated Hermes Inc. Trims Position in ManpowerGroup Inc. (NYSE:MAN)

Federated Hermes Inc. lessened its stake in shares of ManpowerGroup Inc. (NYSE:MAN) by 1.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,491 shares of the business services provider’s stock after selling 1,051 shares during the quarter. Federated Hermes Inc. owned about 0.20% of ManpowerGroup worth $7,827,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MAN. CWM LLC grew its holdings in ManpowerGroup by 345.1% during the 3rd quarter. CWM LLC now owns 365 shares of the business services provider’s stock valued at $27,000 after buying an additional 283 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in ManpowerGroup by 54.8% during the 4th quarter. Venturi Wealth Management LLC now owns 452 shares of the business services provider’s stock valued at $36,000 after buying an additional 160 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in ManpowerGroup by 19.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,011 shares of the business services provider’s stock valued at $74,000 after buying an additional 162 shares in the last quarter. Covestor Ltd grew its holdings in shares of ManpowerGroup by 8.0% during the third quarter. Covestor Ltd now owns 2,578 shares of the business services provider’s stock worth $189,000 after purchasing an additional 190 shares in the last quarter. Finally, Camelot Portfolios LLC purchased a new position in shares of ManpowerGroup during the fourth quarter worth about $236,000. Hedge funds and other institutional investors own 98.03% of the company’s stock.

ManpowerGroup Price Performance

Shares of ManpowerGroup stock opened at $77.10 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.17 and a debt-to-equity ratio of 0.44. The company has a market cap of $3.73 billion, a PE ratio of 79.49, a P/E/G ratio of 1.59 and a beta of 1.54. The business has a 50 day moving average of $73.47 and a 200 day moving average of $74.43. ManpowerGroup Inc. has a 52 week low of $67.35 and a 52 week high of $88.91.

ManpowerGroup (NYSE:MAN) last announced its earnings results on Thursday, April 18th. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.44 billion. ManpowerGroup had a return on equity of 11.45% and a net margin of 0.27%. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 earnings per share. As a group, equities research analysts forecast that ManpowerGroup Inc. will post 4.99 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group cut their price objective on ManpowerGroup from $81.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, April 19th. StockNews.com downgraded ManpowerGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. William Blair assumed coverage on ManpowerGroup in a research report on Monday, January 8th. They issued a “market perform” rating for the company. BNP Paribas restated an “underperform” rating and issued a $70.00 target price on shares of ManpowerGroup in a research report on Friday, January 5th. Finally, Truist Financial boosted their target price on ManpowerGroup from $75.00 to $78.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $83.00.

About ManpowerGroup

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.