Charles Schwab Investment Management Inc. Lowers Position in ManpowerGroup Inc. (NYSE:MAN)

Charles Schwab Investment Management Inc. lessened its stake in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 18.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 481,176 shares of the business services provider's stock after selling 112,010 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.01% of ManpowerGroup worth $35,376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. CWM LLC boosted its stake in shares of ManpowerGroup by 5,109.1% in the 2nd quarter. CWM LLC now owns 7,449 shares of the business services provider's stock valued at $520,000 after purchasing an additional 7,306 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in ManpowerGroup by 149.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 55,070 shares of the business services provider's stock valued at $4,049,000 after buying an additional 32,992 shares during the last quarter. Pacer Advisors Inc. raised its holdings in ManpowerGroup by 12,496.6% during the 3rd quarter. Pacer Advisors Inc. now owns 901,536 shares of the business services provider's stock valued at $66,281,000 after buying an additional 894,379 shares during the last quarter. SG Americas Securities LLC bought a new stake in ManpowerGroup during the 2nd quarter valued at $667,000. Finally, Intech Investment Management LLC bought a new stake in ManpowerGroup during the 2nd quarter valued at $824,000. Hedge funds and other institutional investors own 98.03% of the company's stock.

ManpowerGroup Stock Down 1.3 %

NYSE MAN traded down $0.85 during trading hours on Tuesday, reaching $62.35. 489,112 shares of the company's stock traded hands, compared to its average volume of 488,570. ManpowerGroup Inc. has a 52-week low of $59.35 and a 52-week high of $80.25. The firm has a market cap of $2.93 billion, a PE ratio of 78.93 and a beta of 1.45. The firm has a 50-day simple moving average of $66.38 and a 200 day simple moving average of $70.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.15.

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

ManpowerGroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.545 per share. This represents a $6.18 annualized dividend and a yield of 9.91%. 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 payout ratio is 389.88%.

Insider Activity at ManpowerGroup

In other news, CFO John T. Mcginnis purchased 8,000 shares of the stock in a transaction on Wednesday, October 23rd. The shares were acquired at an average price of $62.28 per share, with a total value of $498,240.00. Following the completion of the acquisition, the chief financial officer now directly owns 70,639 shares of the company's stock, valued at $4,399,396.92. This trade represents a 12.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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