ManpowerGroup Inc. (NYSE:MAN) Raises Dividend to $1.55 Per Share

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

ManpowerGroup has raised its dividend by an average of 9.2% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. ManpowerGroup has a payout ratio of 59.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

ManpowerGroup stock traded down $0.90 during mid-day trading on Friday, reaching $64.37. 570,631 shares of the company’s stock were exchanged, compared to its average volume of 434,190. ManpowerGroup has a one year low of $61.53 and a one year high of $80.25. The firm has a market capitalization of $3.05 billion, a PE ratio of 81.66 and a beta of 1.46. The business’s fifty day simple moving average is $69.44 and its 200 day simple moving average is $71.73. The company has a quick ratio of 1.14, a current ratio of 1.15 and a debt-to-equity ratio of 0.46.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MAN shares. JPMorgan Chase & Co. reduced their target price on shares of ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. UBS Group decreased their price objective on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, October 18th. Truist Financial cut their target price 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. Finally, BMO Capital Markets lowered their price target on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $76.60.

Insider Activity at ManpowerGroup

In other ManpowerGroup news, CFO John T. Mcginnis purchased 8,000 shares of the stock in a transaction on Wednesday, October 23rd. The shares were purchased at an average price of $62.28 per share, with a total value of $498,240.00. Following the acquisition, the chief financial officer now directly owns 70,639 shares in the company, valued at approximately $4,399,396.92. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by corporate insiders.

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.