Convergence Investment Partners LLC Purchases New Stake in ManpowerGroup Inc. (NYSE:MAN)

Convergence Investment Partners LLC acquired a new position in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 12,865 shares of the business services provider's stock, valued at approximately $743,000.

Other large investors also recently bought and sold shares of the company. Merit Financial Group LLC purchased a new position in ManpowerGroup during the 4th quarter worth $241,000. BNP Paribas Financial Markets increased its holdings in shares of ManpowerGroup by 168.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,904 shares of the business services provider's stock valued at $2,199,000 after purchasing an additional 18,764 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of ManpowerGroup by 39.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 7,754 shares of the business services provider's stock valued at $570,000 after purchasing an additional 2,208 shares in the last quarter. FORA Capital LLC purchased a new position in shares of ManpowerGroup in the 3rd quarter valued at about $636,000. Finally, National Bank of Canada FI purchased a new position in shares of ManpowerGroup in the 3rd quarter valued at about $1,250,000. Hedge funds and other institutional investors own 98.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of ManpowerGroup from $67.00 to $65.00 and set a "neutral" rating for the company in a report on Friday, January 31st. Barclays cut their price target on shares of ManpowerGroup from $70.00 to $55.00 and set an "underweight" rating for the company in a report on Friday, January 3rd. UBS Group cut their price target on shares of ManpowerGroup from $71.00 to $63.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Truist Financial restated a "hold" rating and set a $70.00 target price (down from $74.00) on shares of ManpowerGroup in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, ManpowerGroup presently has an average rating of "Hold" and an average price target of $69.33.

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ManpowerGroup Price Performance

NYSE:MAN traded down $1.22 during mid-day trading on Friday, hitting $53.73. 722,069 shares of the company's stock traded hands, compared to its average volume of 748,063. ManpowerGroup Inc. has a 1 year low of $53.67 and a 1 year high of $78.87. The company has a market cap of $2.51 billion, a PE ratio of 17.97 and a beta of 1.45. The firm's 50 day simple moving average is $57.55 and its 200 day simple moving average is $64.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.15 and a current ratio of 1.12.

ManpowerGroup 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.