ManpowerGroup (NYSE:MAN) Hits New 12-Month Low - What's Next?

ManpowerGroup Inc. (NYSE:MAN - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $54.88 and last traded at $55.28, with a volume of 36209 shares changing hands. The stock had previously closed at $56.58.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. BMO Capital Markets reduced their price objective on ManpowerGroup from $87.00 to $71.00 and set a "market perform" rating for the company in a research report on Friday, October 18th. Truist Financial reduced their target price on ManpowerGroup from $78.00 to $74.00 and set a "hold" rating for the company in a research report on Friday, October 18th. UBS Group lowered 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, Barclays reduced their price objective 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 analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $73.00.

ManpowerGroup Stock Performance

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 stock has a fifty day simple moving average of $60.87 and a 200-day simple moving average of $67.36. The company has a market capitalization of $2.60 billion, a P/E ratio of 70.05 and a beta of 1.46.

ManpowerGroup (NYSE:MAN - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.48 billion. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. Equities analysts forecast that ManpowerGroup Inc. will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $1.545 per share. The ex-dividend date of this dividend was 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 yield of 11.17%. ManpowerGroup's dividend payout ratio is 389.87%.

Insider Buying and Selling at ManpowerGroup

In other news, CFO John T. Mcginnis purchased 8,000 shares of the business's stock in a transaction dated 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 purchase, the chief financial officer now directly owns 70,639 shares of the company's stock, valued at $4,399,396.92. The trade was a 12.77 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.40% of the company's stock.

Institutional Trading of ManpowerGroup

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commerce Bank grew its position in shares of ManpowerGroup by 4.1% in the 3rd quarter. Commerce Bank now owns 4,272 shares of the business services provider's stock valued at $314,000 after purchasing an additional 167 shares during the period. Abich Financial Wealth Management LLC boosted its holdings in shares of ManpowerGroup by 34.8% in the second quarter. Abich Financial Wealth Management LLC now owns 786 shares of the business services provider's stock valued at $55,000 after buying an additional 203 shares during the period. State of Alaska Department of Revenue lifted its position in ManpowerGroup by 4.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,510 shares of the business services provider's stock valued at $405,000 after acquiring an additional 235 shares in the last quarter. Impact Partnership Wealth LLC lifted its position in ManpowerGroup by 9.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 3,693 shares of the business services provider's stock valued at $271,000 after acquiring an additional 329 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in ManpowerGroup by 11.8% during the 3rd quarter. Captrust Financial Advisors now owns 3,260 shares of the business services provider's stock worth $240,000 after purchasing an additional 344 shares in the last quarter. 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.