NN Investment Partners Holdings N.V. decreased its position in shares of ManpowerGroup Inc. (NYSE:MAN) by 11.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,213 shares of the business services provider’s stock after selling 6,152 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in ManpowerGroup were worth $4,145,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in MAN. IFP Advisors Inc lifted its holdings in ManpowerGroup by 148.6% in the third quarter. IFP Advisors Inc now owns 1,310 shares of the business services provider’s stock worth $113,000 after purchasing an additional 783 shares during the period. Itau Unibanco Holding S.A. lifted its holdings in ManpowerGroup by 213.0% in the second quarter. Itau Unibanco Holding S.A. now owns 1,643 shares of the business services provider’s stock worth $141,000 after purchasing an additional 1,118 shares during the period. Cerebellum GP LLC acquired a new stake in ManpowerGroup in the second quarter worth about $170,000. Atria Investments LLC acquired a new stake in ManpowerGroup in the third quarter worth about $214,000. Finally, Verity Asset Management Inc. acquired a new stake in ManpowerGroup in the second quarter worth about $243,000. 91.72% of the stock is owned by institutional investors.
Shares of ManpowerGroup stock 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 stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 1.07 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 the consensus estimate of $2.41 by $0.02. ManpowerGroup had a net margin of 2.76% and a return on equity of 20.02%. 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 business earned $2.04 earnings per share. ManpowerGroup’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, analysts predict that ManpowerGroup Inc. will post 8.69 earnings per share for the current year.
ManpowerGroup announced that its Board of Directors has approved a stock repurchase program on Friday, August 3rd that allows the company to repurchase 6,000,000 outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
In other ManpowerGroup news, EVP Mara E. Swan sold 11,192 shares of the business’s stock in a transaction dated Friday, August 31st. The shares were 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 in the company, valued at $1,265,238.61. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,350 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $89.43, for a total transaction of $120,730.50. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by insiders.
Several research firms recently weighed in on MAN. Robert W. Baird reduced their price objective on shares of ManpowerGroup from $101.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, October 22nd. Northcoast Research reaffirmed a “neutral” rating on shares of ManpowerGroup in a report on Monday, July 23rd. ValuEngine raised shares of ManpowerGroup from a “strong sell” rating to a “sell” rating in a report on Thursday. Barclays reduced their price objective on shares of ManpowerGroup from $115.00 to $90.00 and set a “$86.63” rating for the company in a report on Wednesday, July 18th. Finally, Nomura reaffirmed a “buy” rating and issued a $130.00 price objective on shares of ManpowerGroup in a report on Sunday, July 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $99.85.
ManpowerGroup Company Profile
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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