Pacer Advisors Inc. Increases Stock Position in ManpowerGroup Inc. (NYSE:MAN)

Pacer Advisors Inc. raised its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 12,496.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 901,536 shares of the business services provider’s stock after purchasing an additional 894,379 shares during the period. Pacer Advisors Inc. owned approximately 1.90% of ManpowerGroup worth $66,281,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Victory Capital Management Inc. increased its holdings in ManpowerGroup by 4.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,125,887 shares of the business services provider’s stock worth $287,987,000 after buying an additional 183,527 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in ManpowerGroup by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,299,985 shares of the business services provider’s stock worth $160,539,000 after purchasing an additional 103,059 shares during the last quarter. AQR Capital Management LLC boosted its holdings in 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 purchasing an additional 573,027 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of ManpowerGroup by 2.2% during the 1st quarter. Capital Research Global Investors now owns 927,364 shares of the business services provider’s stock valued at $72,001,000 after buying an additional 19,819 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of ManpowerGroup by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 603,081 shares of the business services provider’s stock worth $42,095,000 after buying an additional 5,119 shares during the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.

Insider Transactions at ManpowerGroup

In other news, CFO John T. Mcginnis bought 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was purchased at an average cost of $62.28 per share, for a total transaction of $498,240.00. Following the purchase, the chief financial officer now directly owns 70,639 shares in the company, valued at approximately $4,399,396.92. This trade represents a 12.77 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

MAN has been the subject of a number of research reports. UBS Group reduced their price objective on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, October 18th. BMO Capital Markets reduced their price target on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a research report on Friday, October 18th. Finally, Truist Financial dropped their price objective on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $76.60.

ManpowerGroup Stock Performance

ManpowerGroup stock opened at $60.80 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.15. The company’s 50-day moving average is $67.67 and its 200 day moving average is $70.80. ManpowerGroup Inc. has a 1-year low of $59.35 and a 1-year high of $80.25. The firm has a market capitalization of $2.85 billion, a P/E ratio of 76.96 and a beta of 1.46.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Thursday, October 17th. The business services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.48 billion. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. Research analysts forecast that ManpowerGroup Inc. will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.545 dividend. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 annualized dividend and a dividend yield of 10.16%. The ex-dividend date is Monday, December 2nd. ManpowerGroup’s dividend payout ratio (DPR) is presently 389.88%.

ManpowerGroup 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.