ManpowerGroup Inc. (NYSE:MAN) to Issue Dividend Increase – $1.55 Per Share

ManpowerGroup Inc. (NYSE:MAN) announced a quarterly dividend on Friday, November 8th,RTT News reports. Investors of record on Monday, December 2nd will be given a dividend of 1.545 per share by the business services provider on Monday, December 16th. This represents a $6.18 annualized dividend and a yield of 9.60%. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01.

ManpowerGroup has increased its dividend payment by an average of 9.2% annually over the last three years and has increased its dividend every year for the last 14 years. ManpowerGroup has a dividend payout ratio of 59.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ManpowerGroup to earn $5.43 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 56.7%.

ManpowerGroup Price Performance

Shares of NYSE MAN traded down $0.90 during mid-day trading on Friday, reaching $64.37. 570,631 shares of the company traded hands, compared to its average volume of 434,190. The firm has a market cap of $3.05 billion, a PE ratio of 81.66 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.14. ManpowerGroup has a fifty-two week low of $61.53 and a fifty-two week high of $80.25. The stock has a fifty day simple moving average of $69.44 and a 200-day simple moving average of $71.73.

Insiders Place Their Bets

In other ManpowerGroup news, CFO John T. Mcginnis bought 8,000 shares of ManpowerGroup stock in a transaction dated Wednesday, October 23rd. The stock was bought at an average price of $62.28 per share, with a total value of $498,240.00. Following the completion of the transaction, the chief financial officer now owns 70,639 shares in the company, valued at $4,399,396.92. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on MAN shares. BMO Capital Markets cut 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. Truist Financial reduced their price target on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research report on Friday, October 18th. UBS Group lowered their price target on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, ManpowerGroup presently has an average rating of “Hold” and an average target price of $76.60.

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.