Xact Kapitalforvaltning AB lessened its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 9.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,457 shares of the business services provider’s stock after selling 2,053 shares during the period. Xact Kapitalforvaltning AB’s holdings in ManpowerGroup were worth $1,673,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. boosted its position in ManpowerGroup by 213.0% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 1,643 shares of the business services provider’s stock valued at $141,000 after acquiring an additional 1,118 shares in the last quarter. Cerebellum GP LLC bought a new stake in ManpowerGroup during the 2nd quarter valued at approximately $170,000. Atria Investments LLC bought a new stake in ManpowerGroup during the 3rd quarter valued at approximately $214,000. Verity Asset Management Inc. bought a new stake in ManpowerGroup during the 2nd quarter valued at approximately $243,000. Finally, IFM Investors Pty Ltd boosted its position in ManpowerGroup by 43.7% during the 2nd quarter. IFM Investors Pty Ltd now owns 2,982 shares of the business services provider’s stock valued at $257,000 after acquiring an additional 907 shares in the last quarter. Institutional investors own 91.72% of the company’s stock.
Shares of MAN opened at $79.27 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.48 and a debt-to-equity ratio of 0.37. ManpowerGroup Inc. has a 52 week low of $71.79 and a 52 week high of $136.93. The company has a market capitalization of $4.95 billion, a PE ratio of 8.81, a P/E/G ratio of 1.03 and a beta of 1.21.
ManpowerGroup (NYSE:MAN) last issued its quarterly earnings results on Friday, October 19th. The business services provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.02. ManpowerGroup had a return on equity of 20.02% and a net margin of 2.76%. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the previous year, the firm posted $2.04 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, analysts forecast that ManpowerGroup Inc. will post 8.69 earnings per share for the current fiscal year.
ManpowerGroup announced that its Board of Directors has approved a share repurchase program on Friday, August 3rd that authorizes the company to repurchase 6,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, EVP Mara E. Swan sold 11,192 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $93.77, for a total value of $1,049,473.84. Following the sale, the executive vice president now directly owns 13,493 shares of the company’s stock, valued at approximately $1,265,238.61. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ulice Payne, Jr. sold 1,350 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $89.43, for a total value of $120,730.50. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
Several research firms have weighed in on MAN. ValuEngine raised ManpowerGroup from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 26th. BMO Capital Markets cut their price objective on ManpowerGroup from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 22nd. They noted that the move was a valuation call. Zacks Investment Research raised ManpowerGroup from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Robert W. Baird cut their price objective on ManpowerGroup from $101.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, October 22nd. Finally, Nomura reaffirmed a “buy” rating and set a $130.00 price objective on shares of ManpowerGroup in a research report on Sunday, July 22nd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $99.85.
ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The company's recruitment service portfolio includes permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions.
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