ManpowerGroup Inc. (NYSE:MAN) Stake Lessened by Acadian Asset Management LLC

Acadian Asset Management LLC lowered its holdings in ManpowerGroup Inc. (NYSE:MAN) by 87.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,218 shares of the business services provider’s stock after selling 55,587 shares during the period. Acadian Asset Management LLC’s holdings in ManpowerGroup were worth $573,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Hancock Whitney Corp lifted its holdings in shares of ManpowerGroup by 2.2% in the first quarter. Hancock Whitney Corp now owns 6,666 shares of the business services provider’s stock valued at $518,000 after purchasing an additional 144 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of ManpowerGroup by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 9,029 shares of the business services provider’s stock valued at $630,000 after purchasing an additional 207 shares in the last quarter. Abich Financial Wealth Management LLC lifted its holdings in shares of ManpowerGroup by 62.4% in the first quarter. Abich Financial Wealth Management LLC now owns 583 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 224 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of ManpowerGroup by 25.6% in the first quarter. Hexagon Capital Partners LLC now owns 1,364 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 278 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its holdings in shares of ManpowerGroup by 2.2% in the second quarter. Linden Thomas Advisory Services LLC now owns 12,699 shares of the business services provider’s stock valued at $886,000 after purchasing an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.

ManpowerGroup Price Performance

NYSE MAN opened at $73.15 on Wednesday. ManpowerGroup Inc. has a fifty-two week low of $66.03 and a fifty-two week high of $80.25. The stock’s 50-day moving average is $71.74 and its two-hundred day moving average is $73.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $3.49 billion, a P/E ratio of 75.60, a price-to-earnings-growth ratio of 1.78 and a beta of 1.45.

ManpowerGroup (NYSE:MAN) last posted its earnings results on Thursday, July 18th. The business services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.03. ManpowerGroup had a return on equity of 11.08% and a net margin of 0.25%. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period last year, the company earned $1.58 earnings per share. The business’s revenue was down 6.9% compared to the same quarter last year. On average, analysts anticipate that ManpowerGroup Inc. will post 4.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. BMO Capital Markets increased their target price on ManpowerGroup from $80.00 to $87.00 and gave the company a “market perform” rating in a report on Friday, July 19th. JPMorgan Chase & Co. cut their price objective on ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, BNP Paribas upgraded ManpowerGroup from an “underperform” rating to an “outperform” rating and set a $92.00 price objective for the company in a report on Tuesday, June 11th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $82.40.

About ManpowerGroup

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.