KLP Kapitalforvaltning AS Takes Position in ManpowerGroup Inc. (NYSE:MAN)

KLP Kapitalforvaltning AS bought a new stake in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,900 shares of the business services provider's stock, valued at approximately $975,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MAN. Vaughan Nelson Investment Management L.P. acquired a new stake in ManpowerGroup in the fourth quarter valued at approximately $34,200,000. Point72 Asset Management L.P. increased its holdings in ManpowerGroup by 480.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 324,866 shares of the business services provider's stock worth $23,884,000 after acquiring an additional 268,866 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in ManpowerGroup by 34.5% during the fourth quarter. Bank of New York Mellon Corp now owns 748,246 shares of the business services provider's stock valued at $43,189,000 after purchasing an additional 191,901 shares in the last quarter. KLCM Advisors Inc. grew its position in shares of ManpowerGroup by 153.9% in the fourth quarter. KLCM Advisors Inc. now owns 296,594 shares of the business services provider's stock valued at $17,119,000 after purchasing an additional 179,788 shares during the period. Finally, Natixis Advisors LLC acquired a new stake in shares of ManpowerGroup in the fourth quarter valued at about $6,489,000. Hedge funds and other institutional investors own 98.03% of the company's stock.

Wall Street Analysts Forecast Growth

MAN has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of ManpowerGroup from $67.00 to $65.00 and set a "neutral" rating on the stock in a research note on Friday, January 31st. UBS Group lowered their price target on ManpowerGroup from $71.00 to $63.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Truist Financial reissued a "hold" rating and issued a $70.00 price objective (down from $74.00) on shares of ManpowerGroup in a research note on Friday, January 31st. Finally, Barclays dropped their target price 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $69.33.

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ManpowerGroup Trading Down 6.8 %

Shares of MAN traded down $4.00 during midday trading on Thursday, reaching $54.78. The company had a trading volume of 1,378,792 shares, compared to its average volume of 568,382. ManpowerGroup Inc. has a 1-year low of $53.31 and a 1-year high of $78.87. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The firm has a 50 day simple moving average of $58.03 and a 200-day simple moving average of $61.74. The stock has a market cap of $2.56 billion, a PE ratio of 18.32 and a beta of 1.43.

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.