FORA Capital LLC Purchases New Shares in ManpowerGroup Inc. (NYSE:MAN)

FORA Capital LLC bought a new stake in shares of ManpowerGroup Inc. (NYSE:MAN) in the third quarter, Holdings Channel reports. The fund bought 8,654 shares of the business services provider’s stock, valued at approximately $636,000.

A number of other institutional investors have also recently made changes to their positions in MAN. Blue Trust Inc. raised its holdings in ManpowerGroup by 248.3% in the 3rd quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock worth $37,000 after acquiring an additional 375 shares during the last quarter. Abich Financial Wealth Management LLC raised its stake in shares of ManpowerGroup by 62.4% in the first quarter. Abich Financial Wealth Management LLC now owns 583 shares of the business services provider’s stock worth $45,000 after purchasing an additional 224 shares during the last quarter. Advisors Asset Management Inc. bought a new position in shares of ManpowerGroup during the first quarter valued at $49,000. Headlands Technologies LLC purchased a new stake in shares of ManpowerGroup during the second quarter valued at $47,000. Finally, Innealta Capital LLC bought a new stake in ManpowerGroup in the 2nd quarter worth about $50,000. Hedge funds and other institutional investors own 98.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on MAN. BMO Capital Markets lowered their target price on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research note on Friday, October 18th. Truist Financial lowered their price objective on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a research report on Friday, October 18th. Finally, UBS Group cut their target price on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $76.60.

Insider Activity at ManpowerGroup

In related news, CFO John T. Mcginnis acquired 8,000 shares of the firm’s stock in a transaction dated 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 completion of the purchase, the chief financial officer now directly owns 70,639 shares of the company’s stock, valued at $4,399,396.92. This represents a 12.77 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is owned by company insiders.

ManpowerGroup Price Performance

NYSE MAN opened at $64.56 on Friday. The company has a 50-day moving average price of $66.99 and a 200-day moving average price of $70.40. ManpowerGroup Inc. has a 52 week low of $59.35 and a 52 week high of $80.25. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $3.03 billion, a P/E ratio of 81.71 and a beta of 1.46.

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

ManpowerGroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.545 dividend. This is a boost from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 dividend on an annualized basis and a yield of 9.57%. The ex-dividend date of this dividend is Monday, December 2nd. ManpowerGroup’s dividend payout ratio (DPR) is currently 389.88%.

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.