Advisors Asset Management Inc. Boosts Stock Holdings in ManpowerGroup Inc. (NYSE:MAN)

Advisors Asset Management Inc. grew its position in ManpowerGroup Inc. (NYSE:MAN) by 149.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,070 shares of the business services provider’s stock after acquiring an additional 32,992 shares during the quarter. Advisors Asset Management Inc. owned about 0.12% of ManpowerGroup worth $4,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MAN. AQR Capital Management LLC raised its stake in ManpowerGroup by 55.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,608,368 shares of the business services provider’s stock valued at $112,264,000 after purchasing an additional 573,027 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in shares of ManpowerGroup in the second quarter valued at about $24,508,000. Millennium Management LLC lifted its stake in shares of ManpowerGroup by 163.7% in the second quarter. Millennium Management LLC now owns 407,970 shares of the business services provider’s stock worth $28,476,000 after buying an additional 253,287 shares in the last quarter. Victory Capital Management Inc. boosted its position in ManpowerGroup by 4.7% during the second quarter. Victory Capital Management Inc. now owns 4,125,887 shares of the business services provider’s stock worth $287,987,000 after acquiring an additional 183,527 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in ManpowerGroup by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,299,985 shares of the business services provider’s stock valued at $160,539,000 after acquiring an additional 103,059 shares in the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.

Insider Buying and Selling

In other news, CFO John T. Mcginnis purchased 8,000 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were bought at an average cost of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the purchase, the chief financial officer now directly owns 70,639 shares of the company’s stock, valued at approximately $4,399,396.92. This trade represents a 12.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is currently owned by corporate insiders.

ManpowerGroup Trading Up 2.8 %

Shares of ManpowerGroup stock opened at $62.48 on Friday. ManpowerGroup Inc. has a fifty-two week low of $59.35 and a fifty-two week high of $80.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 79.09 and a beta of 1.46. The stock has a 50 day moving average of $67.67 and a 200 day moving average of $70.80.

ManpowerGroup (NYSE:MAN) last issued its quarterly earnings data on Thursday, October 17th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.48 billion. As a group, research analysts predict that ManpowerGroup Inc. will post 4.55 earnings per share for the current year.

ManpowerGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.545 dividend. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 annualized dividend and a dividend yield of 9.89%. The ex-dividend date of this dividend is Monday, December 2nd. ManpowerGroup’s dividend payout ratio is currently 389.88%.

Wall Street Analyst Weigh In

MAN has been the topic of a number of research reports. Truist Financial decreased their target price on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a research note on Friday, October 18th. UBS Group dropped their target price on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, October 18th. Finally, BMO Capital Markets reduced their price target on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.60.

ManpowerGroup 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.