Barclays Cuts ManpowerGroup (NYSE:MAN) Price Target to $55.00

ManpowerGroup (NYSE:MAN) had its price target cut by Barclays from $70.00 to $55.00 in a report released on Friday,Benzinga reports. They currently have an underweight rating on the business services provider’s stock.

MAN has been the subject of a number of other research reports. BMO Capital Markets dropped 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 note on Friday, October 18th. UBS Group decreased their price target on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, October 18th. Finally, Truist Financial cut their price objective on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, ManpowerGroup currently has a consensus rating of “Hold” and a consensus price target of $73.00.

ManpowerGroup Stock Up 1.2 %

NYSE MAN opened at $57.71 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.46. ManpowerGroup has a fifty-two week low of $55.87 and a fifty-two week high of $78.87. The business has a 50 day moving average price of $61.31 and a two-hundred day moving average price of $67.66. The stock has a market cap of $2.71 billion, a PE ratio of 73.05 and a beta of 1.46.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The business 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%. As a group, sell-side analysts predict that ManpowerGroup will post 4.55 EPS for the current fiscal year.

ManpowerGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $1.545 per share. The ex-dividend date was Monday, December 2nd. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 annualized dividend and a dividend yield of 10.71%. ManpowerGroup’s payout ratio is currently 389.87%.

Insider Buying and Selling at ManpowerGroup

In other ManpowerGroup news, CFO John T. Mcginnis bought 8,000 shares of ManpowerGroup 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 completion of the acquisition, the chief financial officer now owns 70,639 shares of the company’s stock, valued at approximately $4,399,396.92. This represents a 12.77 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On ManpowerGroup

Several hedge funds have recently made changes to their positions in MAN. Blue Trust Inc. boosted its position in shares of ManpowerGroup by 248.3% in the third quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock worth $37,000 after buying an additional 375 shares during the period. Headlands Technologies LLC acquired a new stake in ManpowerGroup during the second quarter valued at $47,000. Capital Performance Advisors LLP acquired a new position in ManpowerGroup in the third quarter worth approximately $54,000. Abich Financial Wealth Management LLC grew its position in ManpowerGroup by 34.8% in the second quarter. Abich Financial Wealth Management LLC now owns 786 shares of the business services provider’s stock worth $55,000 after acquiring an additional 203 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of ManpowerGroup by 400.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,666 shares of the business services provider’s stock valued at $122,000 after purchasing an additional 1,333 shares in the last quarter. Hedge funds and other 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.