Bridgewater Associates LP Sells 19,126 Shares of ManpowerGroup Inc. (NYSE:MAN)

Bridgewater Associates LP cut its position in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 39.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,614 shares of the business services provider's stock after selling 19,126 shares during the period. Bridgewater Associates LP owned about 0.06% of ManpowerGroup worth $2,177,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new stake in ManpowerGroup during the 1st quarter worth approximately $49,000. Price T Rowe Associates Inc. MD lifted its position in ManpowerGroup by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,888 shares of the business services provider's stock valued at $3,486,000 after acquiring an additional 1,845 shares in the last quarter. Tidal Investments LLC lifted its position in ManpowerGroup by 179.7% in the 1st quarter. Tidal Investments LLC now owns 17,327 shares of the business services provider's stock valued at $1,345,000 after acquiring an additional 11,132 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in ManpowerGroup by 26.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 12,438 shares of the business services provider's stock worth $947,000 after purchasing an additional 2,591 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in ManpowerGroup by 254.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 20,903 shares of the business services provider's stock worth $1,459,000 after purchasing an additional 15,005 shares in the last quarter. 98.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO John T. Mcginnis purchased 8,000 shares of the stock in a transaction on Wednesday, October 23rd. The shares were purchased at an average cost of $62.28 per share, with a total value of $498,240.00. Following the acquisition, the chief financial officer now directly owns 70,639 shares in the company, valued at $4,399,396.92. The trade was a 12.77 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.40% of the company's stock.

ManpowerGroup Stock Down 0.3 %

Shares of NYSE:MAN traded down $0.19 during trading on Friday, hitting $64.37. 299,297 shares of the company were exchanged, compared to its average volume of 495,771. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 81.48 and a beta of 1.46. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. ManpowerGroup Inc. has a fifty-two week low of $59.35 and a fifty-two week high of $80.25. The firm has a fifty day moving average price of $66.59 and a two-hundred day moving average price of $70.21.

ManpowerGroup (NYSE:MAN - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.48 billion. As a group, research analysts anticipate that ManpowerGroup Inc. will post 4.55 earnings per share for the current fiscal year.

ManpowerGroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.545 per share. The ex-dividend date is Monday, December 2nd. This represents a $6.18 dividend on an annualized basis and a yield of 9.60%. This is a boost from ManpowerGroup's previous quarterly dividend of $1.01. ManpowerGroup's dividend payout ratio (DPR) is presently 389.88%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MAN shares. Truist Financial reduced their price objective on ManpowerGroup from $78.00 to $74.00 and set a "hold" rating for the company in a research report on Friday, October 18th. BMO Capital Markets reduced their price target on ManpowerGroup from $87.00 to $71.00 and set a "market perform" rating for the company in a research report on Friday, October 18th. Finally, UBS Group lowered their price objective 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 company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $76.60.

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.