Retirement Systems of Alabama Decreases Stock Position in ManpowerGroup Inc. (NYSE:MAN)

Retirement Systems of Alabama lessened its holdings in ManpowerGroup Inc. (NYSE:MAN) by 0.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 150,422 shares of the business services provider’s stock after selling 1,239 shares during the period. Retirement Systems of Alabama’s holdings in ManpowerGroup were worth $11,059,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MAN. Pacer Advisors Inc. boosted its stake in ManpowerGroup by 12,496.6% in the 3rd quarter. Pacer Advisors Inc. now owns 901,536 shares of the business services provider’s stock worth $66,281,000 after purchasing an additional 894,379 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of ManpowerGroup by 55.3% in the second quarter. AQR Capital Management LLC now owns 1,608,368 shares of the business services provider’s stock worth $112,264,000 after buying an additional 573,027 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in shares of ManpowerGroup during the second quarter worth $24,508,000. Point72 Asset Management L.P. grew its holdings in shares of ManpowerGroup by 480.1% during the third quarter. Point72 Asset Management L.P. now owns 324,866 shares of the business services provider’s stock valued at $23,884,000 after buying an additional 268,866 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of ManpowerGroup by 163.7% in the 2nd quarter. Millennium Management LLC now owns 407,970 shares of the business services provider’s stock valued at $28,476,000 after acquiring an additional 253,287 shares during the period. Hedge funds and other institutional investors own 98.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MAN shares. BMO Capital Markets lowered their price target on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a research report on Friday, October 18th. UBS Group decreased their target price on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a report 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 research report on Friday, October 18th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.60.

ManpowerGroup Stock Performance

NYSE MAN opened at $59.36 on Tuesday. The firm has a market capitalization of $2.79 billion, a P/E ratio of 75.14 and a beta of 1.45. The stock has a 50-day simple moving average of $64.23 and a two-hundred day simple moving average of $69.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.15. ManpowerGroup Inc. has a fifty-two week low of $59.32 and a fifty-two week high of $80.25.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.48 billion. On average, equities analysts forecast that ManpowerGroup Inc. will post 4.55 earnings per share for the current year.

ManpowerGroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $1.545 per share. This represents a $6.18 annualized dividend and a yield of 10.41%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. ManpowerGroup’s dividend payout ratio (DPR) is currently 389.87%.

Insider Buying and Selling at ManpowerGroup

In other news, CFO John T. Mcginnis bought 8,000 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were acquired at an average cost of $62.28 per share, with a total value of $498,240.00. Following the purchase, the chief financial officer now directly owns 70,639 shares in the company, valued at $4,399,396.92. The trade was a 12.77 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.40% of the stock is owned by corporate insiders.

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.