Advisors Asset Management Inc. Boosts Holdings in ManpowerGroup Inc. (NYSE:MAN)

Advisors Asset Management Inc. increased its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 149.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,070 shares of the business services provider’s stock after buying an additional 32,992 shares during the period. Advisors Asset Management Inc.’s holdings in ManpowerGroup were worth $4,049,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in MAN. Blue Trust Inc. increased its position in shares of ManpowerGroup by 248.3% during the third quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock worth $37,000 after acquiring an additional 375 shares during the period. Abich Financial Wealth Management LLC increased its holdings in ManpowerGroup by 62.4% during the 1st quarter. Abich Financial Wealth Management LLC now owns 583 shares of the business services provider’s stock worth $45,000 after purchasing an additional 224 shares during the period. Headlands Technologies LLC purchased a new position in shares of ManpowerGroup in the 2nd quarter valued at about $47,000. Innealta Capital LLC purchased a new position in shares of ManpowerGroup in the 2nd quarter valued at about $50,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of ManpowerGroup during the third quarter worth about $54,000. 98.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ManpowerGroup

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 stock was purchased at an average price of $62.28 per share, for a total transaction of $498,240.00. Following the transaction, the chief financial officer now directly owns 70,639 shares in the company, valued at $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 SEC, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

ManpowerGroup Stock Up 2.8 %

MAN stock opened at $62.48 on Friday. The company’s 50 day moving average is $67.67 and its two-hundred day moving average is $70.80. ManpowerGroup Inc. has a twelve month low of $59.35 and a twelve month high of $80.25. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.93 billion, a P/E ratio of 79.09 and a beta of 1.46.

ManpowerGroup (NYSE:MAN) last posted its earnings results on Thursday, October 17th. The business services provider reported $1.29 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.48 billion. Research analysts expect that ManpowerGroup Inc. will post 4.55 earnings per share for the current fiscal year.

ManpowerGroup Increases Dividend

The company 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 $1.545 dividend. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 annualized dividend and a dividend yield of 9.89%. The ex-dividend date of this dividend is Monday, December 2nd. ManpowerGroup’s dividend payout ratio is presently 389.88%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MAN shares. UBS Group reduced their target price 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. BMO Capital Markets lowered their target price on shares of 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, Truist Financial dropped their target price on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.