UBS Group Cuts ManpowerGroup (NYSE:MAN) Price Target to $63.00

ManpowerGroup (NYSE:MAN) had its price objective cut by UBS Group from $71.00 to $63.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Barclays cut their target price on ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, January 3rd. BMO Capital Markets cut their target price on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a research note on Friday, October 18th. Finally, Truist Financial cut their target price on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $71.67.

ManpowerGroup Trading Up 0.6 %

Shares of MAN stock opened at $59.36 on Thursday. The stock has a 50 day simple moving average of $60.02 and a 200 day simple moving average of $66.81. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. ManpowerGroup has a 1 year low of $53.70 and a 1 year high of $78.87. The stock has a market cap of $2.79 billion, a P/E ratio of 75.13 and a beta of 1.46.

ManpowerGroup (NYSE:MAN) last released its earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.01. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.48 billion. On average, research analysts predict that ManpowerGroup will post 4.55 earnings per share for the current fiscal year.

ManpowerGroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $1.545 per share. The ex-dividend date was Monday, December 2nd. This represents a $6.18 dividend on an annualized basis and a yield of 10.41%. This is a boost from ManpowerGroup’s previous quarterly dividend of $1.01. ManpowerGroup’s dividend payout ratio is 389.88%.

Insider Buying and Selling at ManpowerGroup

In other news, CFO John T. Mcginnis purchased 8,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were acquired 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 of the company’s stock, valued at $4,399,396.92. The trade was a 12.77 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.00% of the company’s stock.

Institutional Trading of ManpowerGroup

A number of institutional investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. boosted its position in ManpowerGroup by 3.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 28,144 shares of the business services provider’s stock valued at $1,624,000 after acquiring an additional 849 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of ManpowerGroup during the 4th quarter worth about $241,000. Assenagon Asset Management S.A. boosted its position in shares of ManpowerGroup by 1,373.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 53,473 shares of the business services provider’s stock worth $3,086,000 after purchasing an additional 49,845 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of ManpowerGroup by 0.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 47,562 shares of the business services provider’s stock worth $2,745,000 after purchasing an additional 234 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of ManpowerGroup by 4.8% during the 4th quarter. Nordea Investment Management AB now owns 84,153 shares of the business services provider’s stock worth $4,835,000 after purchasing an additional 3,886 shares in the last quarter. Institutional investors own 98.03% of the company’s stock.

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.