ManpowerGroup Inc. (NYSE:MAN) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its holdings in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 149.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,070 shares of the business services provider's stock after acquiring an additional 32,992 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.12% of ManpowerGroup worth $4,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tidal Investments LLC raised its position in ManpowerGroup by 179.7% during the first quarter. Tidal Investments LLC now owns 17,327 shares of the business services provider's stock valued at $1,345,000 after purchasing an additional 11,132 shares during the period. CWM LLC increased its stake in ManpowerGroup by 5,109.1% in the second quarter. CWM LLC now owns 7,449 shares of the business services provider's stock worth $520,000 after purchasing an additional 7,306 shares during the period. Quadrature Capital Ltd lifted its position in shares of ManpowerGroup by 140.0% during the first quarter. Quadrature Capital Ltd now owns 20,437 shares of the business services provider's stock worth $1,587,000 after purchasing an additional 11,921 shares during the last quarter. Burney Co. boosted its stake in shares of ManpowerGroup by 2.0% during the first quarter. Burney Co. now owns 17,607 shares of the business services provider's stock valued at $1,367,000 after purchasing an additional 353 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of ManpowerGroup in the second quarter worth about $667,000. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

ManpowerGroup Stock Performance

ManpowerGroup stock traded up $1.68 during midday trading on Friday, hitting $62.48. 536,385 shares of the company were exchanged, compared to its average volume of 572,030. ManpowerGroup Inc. has a fifty-two week low of $59.35 and a fifty-two week high of $80.25. The firm has a market capitalization of $2.93 billion, a PE ratio of 79.09 and a beta of 1.46. The business has a fifty day simple moving average of $67.67 and a two-hundred day simple moving average of $70.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.15.

ManpowerGroup (NYSE:MAN - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.48 billion. On average, sell-side analysts forecast 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. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.545 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.18 dividend on an annualized basis and a dividend yield of 9.89%. This is a boost from ManpowerGroup's previous quarterly dividend of $1.01. ManpowerGroup's payout ratio is currently 389.88%.

Analysts Set New Price Targets

A number of brokerages have commented on MAN. Truist Financial dropped their target price on shares of ManpowerGroup from $78.00 to $74.00 and set a "hold" rating on the stock in a research note on Friday, October 18th. BMO Capital Markets cut their price target on ManpowerGroup from $87.00 to $71.00 and set a "market perform" rating on the stock in a research note on Friday, October 18th. Finally, UBS Group dropped their target price on shares of ManpowerGroup from $78.00 to $71.00 and set a "neutral" rating on the stock in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $76.60.

Insiders Place Their Bets

In other ManpowerGroup news, CFO John T. Mcginnis purchased 8,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were purchased at an average cost of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the transaction, the chief financial officer now owns 70,639 shares of the company's stock, valued at $4,399,396.92. The trade was a 12.77 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

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.