Point72 Asset Management L.P. purchased a new stake in ManpowerGroup Inc. (NYSE:MAN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 30,000 shares of the business services provider’s stock, valued at approximately $3,535,000.
Other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC boosted its stake in shares of ManpowerGroup by 27.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 924 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 200 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of ManpowerGroup by 14.1% in the 2nd quarter. IFP Advisors Inc now owns 941 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 116 shares in the last quarter. Harfst & Associates Inc. acquired a new position in ManpowerGroup during the 2nd quarter worth about $149,000. Aviance Capital Management LLC acquired a new position in ManpowerGroup during the 2nd quarter worth about $200,000. Finally, Gamco Investors INC. ET AL acquired a new position in ManpowerGroup during the 2nd quarter worth about $201,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Patricia Hemingway Hall sold 3,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $127.54, for a total transaction of $382,620.00. Following the completion of the sale, the director now directly owns 4,021 shares of the company’s stock, valued at approximately $512,838.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Cari M. Dominguez sold 500 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $126.29, for a total value of $63,145.00. Following the sale, the director now directly owns 16,990 shares of the company’s stock, valued at $2,145,667.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,015 shares of company stock valued at $3,762,970. 0.87% of the stock is currently owned by company insiders.
ManpowerGroup (NYSE:MAN) last announced its quarterly earnings results on Friday, October 20th. The business services provider reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.08. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.41 billion. ManpowerGroup had a return on equity of 17.80% and a net margin of 2.24%. ManpowerGroup’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.87 EPS. research analysts expect that ManpowerGroup Inc. will post 6.9 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a $0.93 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This is a boost from ManpowerGroup’s previous quarterly dividend of $0.86. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.86%. ManpowerGroup’s dividend payout ratio is 27.72%.
Several brokerages recently issued reports on MAN. Deutsche Bank reiterated a “hold” rating and set a $110.00 price target on shares of ManpowerGroup in a research report on Tuesday. Zacks Investment Research upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Thursday. SunTrust Banks reiterated a “hold” rating and set a $107.00 price target on shares of ManpowerGroup in a research report on Friday, October 20th. Royal Bank of Canada downgraded shares of ManpowerGroup from an “outperform” rating to a “sector perform” rating in a research report on Thursday, September 28th. Finally, Nomura upped their target price on shares of ManpowerGroup from $127.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, October 23rd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $125.25.
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ManpowerGroup Company Profile
ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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