Norges Bank acquired a new position in ManpowerGroup Inc. (NYSE:MAN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 480,012 shares of the business services provider's stock, valued at approximately $27,706,000. Norges Bank owned 1.02% of ManpowerGroup at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of MAN. Geode Capital Management LLC increased its holdings in ManpowerGroup by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 794,704 shares of the business services provider's stock valued at $58,444,000 after purchasing an additional 4,113 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of ManpowerGroup by 34.5% in the fourth quarter. Bank of New York Mellon Corp now owns 748,246 shares of the business services provider's stock worth $43,189,000 after buying an additional 191,901 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of ManpowerGroup in the fourth quarter valued at about $34,200,000. Charles Schwab Investment Management Inc. raised its holdings in shares of ManpowerGroup by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 504,917 shares of the business services provider's stock valued at $29,144,000 after buying an additional 23,741 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of ManpowerGroup by 111.7% during the 4th quarter. Prudential Financial Inc. now owns 364,515 shares of the business services provider's stock valued at $21,040,000 after buying an additional 192,345 shares during the period. 98.03% of the stock is owned by institutional investors and hedge funds.
ManpowerGroup Stock Up 0.5 %
Shares of MAN stock traded up $0.27 during trading hours on Friday, hitting $51.02. 698,058 shares of the company were exchanged, compared to its average volume of 581,886. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 17.06 and a beta of 1.28. ManpowerGroup Inc. has a one year low of $47.29 and a one year high of $78.87. The business's 50-day simple moving average is $56.55 and its two-hundred day simple moving average is $60.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.15 and a current ratio of 1.12.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of ManpowerGroup from $67.00 to $65.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Barclays upgraded shares of ManpowerGroup from an "underweight" rating to an "equal weight" rating and decreased their target price for the company from $55.00 to $50.00 in a research note on Thursday. Truist Financial reaffirmed a "hold" rating and set a $70.00 price target (down previously from $74.00) on shares of ManpowerGroup in a research note on Friday, January 31st. Finally, UBS Group decreased their price objective on shares of ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating for the company in a research report on Thursday. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, ManpowerGroup currently has an average rating of "Hold" and an average target price of $67.50.
Check Out Our Latest Analysis on MAN
ManpowerGroup Company Profile
(
Free Report)
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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