ManpowerGroup (NYSE:MAN) Hits New 52-Week Low - Here's Why

ManpowerGroup Inc. (NYSE:MAN - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $61.35 and last traded at $61.50, with a volume of 166348 shares changing hands. The stock had previously closed at $63.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on ManpowerGroup from $84.00 to $75.00 and set a "neutral" rating on the stock in a research report on Friday, July 19th. UBS Group lowered their price objective on shares of ManpowerGroup from $78.00 to $71.00 and set a "neutral" rating for the company in a research note on Friday, October 18th. Truist Financial dropped their price target on ManpowerGroup from $78.00 to $74.00 and set a "hold" rating on the stock in a research note on Friday, October 18th. Finally, BMO Capital Markets dropped their target price on ManpowerGroup from $87.00 to $71.00 and set a "market perform" rating on the stock in a research report on Friday, October 18th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, ManpowerGroup presently has an average rating of "Hold" and a consensus price target of $76.60.

ManpowerGroup Price Performance

The stock has a 50 day moving average price of $68.54 and a two-hundred day moving average price of $71.30. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.14. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 79.91 and a beta of 1.46.

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

ManpowerGroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.545 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from ManpowerGroup's previous quarterly dividend of $1.01. This represents a $6.18 dividend on an annualized basis and a dividend yield of 10.03%. ManpowerGroup's dividend payout ratio (DPR) is 389.88%.

Insider Buying and Selling at ManpowerGroup

In related news, CFO John T. Mcginnis acquired 8,000 shares of ManpowerGroup stock in a transaction that occurred on Wednesday, October 23rd. The stock was purchased at an average price of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the purchase, the chief financial officer now directly owns 70,639 shares of the company's stock, valued at approximately $4,399,396.92. This trade represents a 12.77 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On ManpowerGroup

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in ManpowerGroup by 248.3% in the 3rd quarter. Blue Trust Inc. now owns 526 shares of the business services provider's stock valued at $37,000 after purchasing an additional 375 shares in the last quarter. Abich Financial Wealth Management LLC grew its holdings in ManpowerGroup by 62.4% in the first quarter. Abich Financial Wealth Management LLC now owns 583 shares of the business services provider's stock valued at $45,000 after purchasing an additional 224 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of ManpowerGroup in the second quarter valued at $47,000. Advisors Asset Management Inc. acquired a new position in shares of ManpowerGroup during the 1st quarter worth $49,000. Finally, Innealta Capital LLC purchased a new stake in shares of ManpowerGroup in the 2nd quarter worth about $50,000. 98.03% of the stock is currently owned by institutional investors and hedge funds.

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.

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