JPMorgan Chase & Co. Cuts ManpowerGroup (NYSE:MAN) Price Target to $65.00

ManpowerGroup (NYSE:MAN) had its price target lowered by JPMorgan Chase & Co. from $67.00 to $65.00 in a report issued on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the business services provider’s stock.

MAN has been the topic of several other research reports. BMO Capital Markets cut their price target on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research note on Friday, October 18th. UBS Group cut their target price on ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Truist Financial reaffirmed a “hold” rating and issued a $70.00 price target (down previously from $74.00) on shares of ManpowerGroup in a research report on Friday. Finally, Barclays cut their price objective on shares of ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating on the stock in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, ManpowerGroup has a consensus rating of “Hold” and a consensus price target of $69.33.

ManpowerGroup Trading Down 0.8 %

NYSE:MAN opened at $60.25 on Friday. The firm has a market capitalization of $2.83 billion, a P/E ratio of 76.26 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 has a one year low of $53.70 and a one year high of $78.87. The company’s 50-day simple moving average is $59.56 and its 200 day simple moving average is $66.05.

ManpowerGroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $1.545 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $6.18 annualized dividend and a dividend yield of 10.26%. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. ManpowerGroup’s dividend payout ratio is presently 389.88%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Merit Financial Group LLC bought a new stake in ManpowerGroup during the fourth quarter valued at about $241,000. Sanctuary Advisors LLC increased its stake in shares of ManpowerGroup by 39.8% in the third quarter. Sanctuary Advisors LLC now owns 7,754 shares of the business services provider’s stock worth $570,000 after purchasing an additional 2,208 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of ManpowerGroup by 168.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 29,904 shares of the business services provider’s stock valued at $2,199,000 after purchasing an additional 18,764 shares during the period. FORA Capital LLC purchased a new position in shares of ManpowerGroup in the third quarter valued at about $636,000. Finally, National Bank of Canada FI purchased a new stake in ManpowerGroup during the third quarter valued at $1,250,000. Hedge funds and other institutional investors own 98.03% of the company’s stock.

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.