Pacer Advisors Inc. Buys 894,379 Shares of ManpowerGroup Inc. (NYSE:MAN)

Pacer Advisors Inc. grew its stake in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 12,496.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 901,536 shares of the business services provider's stock after buying an additional 894,379 shares during the period. Pacer Advisors Inc. owned approximately 1.90% of ManpowerGroup worth $66,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hancock Whitney Corp increased its stake in ManpowerGroup by 2.2% in the 1st quarter. Hancock Whitney Corp now owns 6,666 shares of the business services provider's stock valued at $518,000 after buying an additional 144 shares during the last quarter. Commerce Bank boosted its position in ManpowerGroup by 4.1% during the third 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 last quarter. Abich Financial Wealth Management LLC grew its stake in 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 purchasing an additional 203 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of ManpowerGroup by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 9,029 shares of the business services provider's stock worth $630,000 after purchasing an additional 207 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of ManpowerGroup by 4.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,510 shares of the business services provider's stock worth $405,000 after purchasing an additional 235 shares in the last quarter. Institutional investors own 98.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial lowered their price objective on shares of ManpowerGroup from $78.00 to $74.00 and set a "hold" rating on the stock in a research note on Friday, October 18th. BMO Capital Markets decreased their price target 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. Finally, 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 report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $76.60.

ManpowerGroup Price Performance

Shares of MAN traded up $1.68 during trading hours on Friday, reaching $62.48. The stock had a trading volume of 536,251 shares, compared to its average volume of 436,370. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.15. ManpowerGroup Inc. has a 12 month low of $59.35 and a 12 month high of $80.25. The stock has a market capitalization of $2.93 billion, a PE ratio of 79.09 and a beta of 1.46. The company's 50-day moving average is $67.67 and its two-hundred day moving average is $70.80.

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

ManpowerGroup Increases Dividend

The company also recently disclosed 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 boost from ManpowerGroup's previous quarterly dividend of $1.01. This represents a $6.18 annualized dividend and a dividend yield of 9.89%. ManpowerGroup's dividend payout ratio is 389.88%.

Insider Activity at ManpowerGroup

In other ManpowerGroup news, CFO John T. Mcginnis acquired 8,000 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was purchased at an average cost of $62.28 per share, with a total value of $498,240.00. Following the transaction, the chief financial officer now owns 70,639 shares in the company, valued at approximately $4,399,396.92. The trade was a 12.77 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 2.40% of the stock is owned by company insiders.

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.