Quantbot Technologies LP Sells 762 Shares of ManpowerGroup Inc. (NYSE:MAN)

Quantbot Technologies LP lessened its stake in shares of ManpowerGroup Inc. (NYSE:MAN) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,772 shares of the business services provider’s stock after selling 762 shares during the quarter. Quantbot Technologies LP’s holdings in ManpowerGroup were worth $792,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MAN. Bank of Montreal Can boosted its position in ManpowerGroup by 161.2% during the third quarter. Bank of Montreal Can now owns 36,328 shares of the business services provider’s stock worth $2,662,000 after purchasing an additional 22,421 shares during the period. Cerity Partners LLC boosted its holdings in shares of ManpowerGroup by 5.5% during the 3rd quarter. Cerity Partners LLC now owns 12,918 shares of the business services provider’s stock worth $950,000 after buying an additional 679 shares during the period. Pacer Advisors Inc. grew its stake in ManpowerGroup by 12,496.6% in the 3rd quarter. Pacer Advisors Inc. now owns 901,536 shares of the business services provider’s stock valued at $66,281,000 after buying an additional 894,379 shares during the last quarter. Foundry Partners LLC acquired a new position in ManpowerGroup in the 3rd quarter valued at $4,244,000. Finally, Advisors Asset Management Inc. raised its holdings in ManpowerGroup by 149.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 55,070 shares of the business services provider’s stock worth $4,049,000 after acquiring an additional 32,992 shares during the period. Institutional investors and hedge funds own 98.03% of the company’s stock.

Insider Activity

In other ManpowerGroup news, CFO John T. Mcginnis purchased 8,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was purchased at an average price 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 in the company, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.

ManpowerGroup Trading Down 0.3 %

ManpowerGroup stock opened at $64.37 on Monday. The business has a 50 day moving average price of $66.59 and a two-hundred day moving average price of $70.21. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.46. ManpowerGroup Inc. has a 12 month low of $59.35 and a 12 month high of $80.25. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 81.48 and a beta of 1.46.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Thursday, October 17th. The business services provider reported $1.29 EPS for the quarter, beating 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 business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.48 billion. As a group, equities analysts forecast that ManpowerGroup Inc. will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The firm 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 dividend of $1.545 per share. This represents a $6.18 dividend on an annualized basis and a dividend yield of 9.60%. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. The ex-dividend date is Monday, December 2nd. ManpowerGroup’s dividend payout ratio (DPR) is presently 389.88%.

Analyst Ratings Changes

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

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.