State Street Corp Sells 418,672 Shares of ManpowerGroup Inc. (NYSE:MAN)

State Street Corp decreased its position in ManpowerGroup Inc. (NYSE:MAN) by 21.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,550,801 shares of the business services provider’s stock after selling 418,672 shares during the quarter. State Street Corp owned approximately 3.30% of ManpowerGroup worth $114,015,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MAN. Victory Capital Management Inc. grew its position in shares of ManpowerGroup by 4.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,125,887 shares of the business services provider’s stock valued at $287,987,000 after acquiring an additional 183,527 shares during the period. Dimensional Fund Advisors LP grew its holdings in ManpowerGroup by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,299,985 shares of the business services provider’s stock valued at $160,539,000 after purchasing an additional 103,059 shares during the period. AQR Capital Management LLC increased its position in ManpowerGroup by 55.3% in the second quarter. AQR Capital Management LLC now owns 1,608,368 shares of the business services provider’s stock worth $112,264,000 after buying an additional 573,027 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of ManpowerGroup by 12,496.6% in the third quarter. Pacer Advisors Inc. now owns 901,536 shares of the business services provider’s stock worth $66,281,000 after buying an additional 894,379 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of ManpowerGroup by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 603,081 shares of the business services provider’s stock worth $42,095,000 after buying an additional 5,119 shares during the period. Institutional investors own 98.03% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other ManpowerGroup news, CFO John T. Mcginnis purchased 8,000 shares of ManpowerGroup stock in a transaction that occurred on Wednesday, October 23rd. The shares were bought at an average price of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the transaction, the chief financial officer now 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

ManpowerGroup Trading Up 0.6 %

MAN stock opened at $61.18 on Monday. 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. The business has a 50 day simple moving average of $64.46 and a two-hundred day simple moving average of $69.24. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 77.44 and a beta of 1.45.

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

ManpowerGroup Increases Dividend

The company also recently announced 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 represents a $6.18 annualized dividend and a dividend yield of 10.10%. This is a boost from ManpowerGroup’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Monday, December 2nd. ManpowerGroup’s payout ratio is 389.87%.

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.