ManpowerGroup Inc. (NYSE:MAN) Shares Sold by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd reduced its stake in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 67.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,240 shares of the business services provider's stock after selling 27,542 shares during the period. Point72 Hong Kong Ltd's holdings in ManpowerGroup were worth $973,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in ManpowerGroup by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,888 shares of the business services provider's stock worth $3,486,000 after acquiring an additional 1,845 shares during the period. Tidal Investments LLC grew its stake in ManpowerGroup by 179.7% in the 1st quarter. Tidal Investments LLC now owns 17,327 shares of the business services provider's stock worth $1,345,000 after acquiring an additional 11,132 shares during the period. DekaBank Deutsche Girozentrale grew its stake in ManpowerGroup by 26.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 12,438 shares of the business services provider's stock worth $947,000 after acquiring an additional 2,591 shares during the period. Harbor Capital Advisors Inc. grew its stake in ManpowerGroup by 254.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 20,903 shares of the business services provider's stock worth $1,459,000 after acquiring an additional 15,005 shares during the period. Finally, CWM LLC grew its stake in ManpowerGroup by 5,109.1% in the 2nd quarter. CWM LLC now owns 7,449 shares of the business services provider's stock worth $520,000 after acquiring an additional 7,306 shares during the period. 98.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ManpowerGroup news, CFO John T. Mcginnis purchased 8,000 shares of the firm's stock in a transaction that occurred on 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. This trade represents a 12.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by corporate insiders.

ManpowerGroup Trading Up 1.4 %

Shares of NYSE MAN traded up $0.85 during trading on Monday, hitting $63.68. 265,258 shares of the company traded hands, compared to its average volume of 436,200. ManpowerGroup Inc. has a 1 year low of $59.35 and a 1 year high of $80.25. The company has a 50-day moving average price of $66.59 and a 200-day moving average price of $70.15. The firm has a market capitalization of $2.99 billion, a P/E ratio of 81.48 and a beta of 1.46. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.46.

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. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. The company had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.48 billion. On average, equities analysts predict that ManpowerGroup Inc. will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.545 per share. This represents a $6.18 dividend on an annualized basis and a yield of 9.70%. This is a boost from ManpowerGroup's previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Monday, December 2nd. ManpowerGroup's dividend payout ratio is 389.88%.

Analyst Ratings Changes

Several analysts have commented on MAN shares. Truist Financial lowered their target price on shares of ManpowerGroup from $78.00 to $74.00 and set a "hold" rating for the company in a research note on Friday, October 18th. BMO Capital Markets lowered their target price on shares of ManpowerGroup from $87.00 to $71.00 and set a "market perform" rating for the company in a research note 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 note on Friday, October 18th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $76.60.

ManpowerGroup Company 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.