Principal Financial Group Inc. Trims Stock Position in ManpowerGroup Inc. (NYSE:MAN)

Principal Financial Group Inc. trimmed its stake in ManpowerGroup Inc. (NYSE:MAN) by 30.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,975 shares of the business services provider’s stock after selling 48,888 shares during the period. Principal Financial Group Inc.’s holdings in ManpowerGroup were worth $8,085,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake in ManpowerGroup by 4.7% in the second quarter. Victory Capital Management Inc. now owns 4,125,887 shares of the business services provider’s stock worth $287,987,000 after buying an additional 183,527 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of ManpowerGroup by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,299,985 shares of the business services provider’s stock worth $160,539,000 after acquiring an additional 103,059 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of ManpowerGroup by 55.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,608,368 shares of the business services provider’s stock valued at $112,264,000 after purchasing an additional 573,027 shares during the period. Pacer Advisors Inc. lifted its stake in shares of 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 purchasing an additional 894,379 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of ManpowerGroup by 0.5% during the third quarter. Geode Capital Management LLC now owns 794,704 shares of the business services provider’s stock valued at $58,444,000 after purchasing an additional 4,113 shares in the last quarter. Institutional investors own 98.03% of the company’s stock.

ManpowerGroup Stock Up 1.6 %

NYSE:MAN opened at $57.72 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market cap of $2.71 billion, a P/E ratio of 73.06 and a beta of 1.45. ManpowerGroup Inc. has a fifty-two week low of $55.87 and a fifty-two week high of $80.03. The firm has a 50-day simple moving average of $61.64 and a two-hundred day simple moving average of $67.97.

ManpowerGroup (NYSE:MAN) last posted its quarterly 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. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.48 billion. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. Analysts predict that ManpowerGroup Inc. will post 4.55 earnings per share for the current fiscal year.

ManpowerGroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $1.545 dividend. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $6.18 dividend on an annualized basis and a yield of 10.71%. ManpowerGroup’s payout ratio is 389.87%.

Analyst Ratings Changes

Several brokerages have commented on MAN. Truist Financial lowered their price objective on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research report on Friday, October 18th. BMO Capital Markets lowered their price target on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a research report on Friday, October 18th. Finally, UBS Group cut their price objective on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $76.60.

Insider Buying and Selling at ManpowerGroup

In related news, CFO John T. Mcginnis bought 8,000 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was acquired at an average cost of $62.28 per share, for a total transaction of $498,240.00. Following the purchase, the chief financial officer now owns 70,639 shares in the company, valued at approximately $4,399,396.92. This represents a 12.77 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.40% 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.