ManpowerGroup Inc. (NYSE:MAN) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lowered its stake in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 58.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,206 shares of the business services provider's stock after selling 23,168 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in ManpowerGroup were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MAN. Victory Capital Management Inc. increased its holdings in shares of ManpowerGroup by 4.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,125,887 shares of the business services provider's stock valued at $287,987,000 after acquiring an additional 183,527 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of ManpowerGroup by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,299,985 shares of the business services provider's stock valued at $160,539,000 after acquiring an additional 103,059 shares during the period. AQR Capital Management LLC increased its holdings in shares of ManpowerGroup by 55.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,608,368 shares of the business services provider's stock valued at $112,264,000 after acquiring an additional 573,027 shares during the period. Capital Research Global Investors increased its holdings in shares of ManpowerGroup by 2.2% in the 1st quarter. Capital Research Global Investors now owns 927,364 shares of the business services provider's stock valued at $72,001,000 after acquiring an additional 19,819 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of ManpowerGroup by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 603,081 shares of the business services provider's stock valued at $42,095,000 after acquiring an additional 5,119 shares during the period. Institutional investors and hedge funds own 98.03% of the company's stock.

Insiders Place Their Bets

In other ManpowerGroup news, CFO John T. Mcginnis acquired 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 23rd. The shares were acquired at an average cost of $62.28 per share, for a total transaction of $498,240.00. Following the transaction, the chief financial officer now directly owns 70,639 shares of the company's stock, valued at approximately $4,399,396.92. This represents a 12.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.40% of the company's stock.

ManpowerGroup Stock Performance

Shares of MAN opened at $60.39 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market capitalization of $2.83 billion, a P/E ratio of 76.44 and a beta of 1.46. The company's fifty day moving average is $67.85 and its two-hundred day moving average is $70.87. ManpowerGroup Inc. has a 1 year low of $59.35 and a 1 year high of $80.25.

ManpowerGroup (NYSE:MAN - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. The company had revenue of $4.53 billion for the quarter, compared to analysts' expectations of $4.48 billion. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. On average, sell-side analysts predict 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. Shareholders of record on Monday, December 2nd will be given a dividend of $1.545 per share. This is a positive change from ManpowerGroup's previous quarterly dividend of $1.01. This represents a $6.18 annualized dividend and a dividend yield of 10.23%. The ex-dividend date is Monday, December 2nd. ManpowerGroup's payout ratio is presently 389.87%.

Analyst Ratings Changes

A number of brokerages have recently commented on MAN. UBS Group cut 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. BMO Capital Markets cut their target price on shares of ManpowerGroup from $87.00 to $71.00 and set a "market perform" rating on the stock in a report on Friday, October 18th. Finally, Truist Financial cut their target price on shares of ManpowerGroup from $78.00 to $74.00 and set a "hold" rating on the stock in a report on Friday, October 18th. Six 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, ManpowerGroup currently has a consensus rating of "Hold" and an average price target of $76.60.

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.

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