Bank of Montreal Can Raises Stock Position in ManpowerGroup Inc. (NYSE:MAN)

Bank of Montreal Can lifted its position in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 161.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,328 shares of the business services provider's stock after buying an additional 22,421 shares during the period. Bank of Montreal Can owned about 0.08% of ManpowerGroup worth $2,662,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. grew its position in ManpowerGroup by 248.3% during the third quarter. Blue Trust Inc. now owns 526 shares of the business services provider's stock valued at $37,000 after acquiring an additional 375 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of ManpowerGroup during the 2nd quarter valued at $47,000. Innealta Capital LLC purchased a new position in ManpowerGroup in the 2nd quarter worth $50,000. Capital Performance Advisors LLP bought a new stake in ManpowerGroup in the third quarter worth $54,000. Finally, Abich Financial Wealth Management LLC lifted its stake in ManpowerGroup by 34.8% in the second quarter. Abich Financial Wealth Management LLC now owns 786 shares of the business services provider's stock worth $55,000 after purchasing an additional 203 shares during the last quarter. 98.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MAN shares. Truist Financial decreased their price objective on ManpowerGroup from $78.00 to $74.00 and set a "hold" rating on the stock in a report on Friday, October 18th. UBS Group cut their price target 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. Finally, BMO Capital Markets lowered their price objective on shares of ManpowerGroup from $87.00 to $71.00 and set a "market perform" rating for the company in a research note on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $76.60.

Insider Buying and Selling

In other news, CFO John T. Mcginnis purchased 8,000 shares of ManpowerGroup stock in a transaction that occurred on Wednesday, October 23rd. The stock was bought at an average price of $62.28 per share, with a total value of $498,240.00. Following the completion of the transaction, the chief financial officer now directly owns 70,639 shares of the company's stock, valued at approximately $4,399,396.92. The trade was a 12.77 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by company insiders.

ManpowerGroup Trading Down 0.8 %

Shares of NYSE:MAN traded down $0.53 on Thursday, hitting $62.22. The company had a trading volume of 558,240 shares, compared to its average volume of 440,237. ManpowerGroup Inc. has a 1 year low of $59.35 and a 1 year high of $80.25. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.46. The firm's 50-day simple moving average is $65.96 and its two-hundred day simple moving average is $69.90. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 79.42 and a beta of 1.45.

ManpowerGroup (NYSE:MAN - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $4.53 billion for the quarter, compared to analysts' expectations of $4.48 billion. Equities 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 paid a $1.545 dividend. This represents a $6.18 annualized dividend and a dividend yield of 9.93%. This is a positive change from ManpowerGroup's previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Monday, December 2nd. ManpowerGroup's dividend payout ratio (DPR) is presently 389.88%.

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.