Point72 Hong Kong Ltd Reduces Stake in ManpowerGroup Inc. (NYSE:MAN)

Point72 Hong Kong Ltd lowered its stake in shares of ManpowerGroup Inc. (NYSE:MAN) by 67.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,240 shares of the business services provider’s stock after selling 27,542 shares during the period. Point72 Hong Kong Ltd’s holdings in ManpowerGroup were worth $973,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in ManpowerGroup by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,888 shares of the business services provider’s stock worth $3,486,000 after buying an additional 1,845 shares during the last quarter. Tidal Investments LLC raised its stake in ManpowerGroup by 179.7% in the 1st quarter. Tidal Investments LLC now owns 17,327 shares of the business services provider’s stock valued at $1,345,000 after acquiring an additional 11,132 shares during the period. DekaBank Deutsche Girozentrale raised its stake in ManpowerGroup by 26.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 12,438 shares of the business services provider’s stock valued at $947,000 after acquiring an additional 2,591 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in ManpowerGroup by 254.4% during the second quarter. Harbor Capital Advisors Inc. now owns 20,903 shares of the business services provider’s stock valued at $1,459,000 after purchasing an additional 15,005 shares during the last quarter. Finally, CWM LLC boosted its position in ManpowerGroup by 5,109.1% during the second quarter. CWM LLC now owns 7,449 shares of the business services provider’s stock worth $520,000 after purchasing an additional 7,306 shares during the period. Institutional investors own 98.03% of the company’s stock.

Insider Buying and Selling at ManpowerGroup

In related news, CFO John T. Mcginnis purchased 8,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were purchased at an average price of $62.28 per share, with a total value of $498,240.00. Following the acquisition, the chief financial officer now directly owns 70,639 shares of the company’s stock, valued at approximately $4,399,396.92. This 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 through the SEC website. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. UBS Group lowered their price target on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, October 18th. Truist Financial lowered their target price on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a report on Friday, October 18th. Finally, BMO Capital Markets cut their price target on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, ManpowerGroup presently has a consensus rating of “Hold” and a consensus target price of $76.60.

ManpowerGroup Stock Performance

NYSE MAN opened at $64.37 on Monday. The company’s 50 day simple moving average is $66.59 and its two-hundred day simple moving average is $70.21. The stock has a market capitalization of $3.02 billion, a PE ratio of 81.48 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.15. ManpowerGroup Inc. has a 1 year low of $59.35 and a 1 year high of $80.25.

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

ManpowerGroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.545 dividend. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 dividend on an annualized basis and a yield of 9.60%. The ex-dividend date is Monday, December 2nd. ManpowerGroup’s dividend payout ratio (DPR) is currently 389.88%.

ManpowerGroup Company 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.