Principal Financial Group Inc. Has $8.09 Million Stock Position in ManpowerGroup Inc. (NYSE:MAN)

Principal Financial Group Inc. cut its position in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 30.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 109,975 shares of the business services provider's stock after selling 48,888 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of ManpowerGroup worth $8,085,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MAN. Tidal Investments LLC raised its stake in shares of ManpowerGroup by 179.7% during the first quarter. Tidal Investments LLC now owns 17,327 shares of the business services provider's stock valued at $1,345,000 after purchasing an additional 11,132 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of ManpowerGroup by 510.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 40,206 shares of the business services provider's stock valued at $3,122,000 after buying an additional 33,623 shares in the last quarter. CWM LLC boosted its holdings in ManpowerGroup by 5,109.1% during the second quarter. CWM LLC now owns 7,449 shares of the business services provider's stock worth $520,000 after buying an additional 7,306 shares during the last quarter. Quadrature Capital Ltd raised its holdings in shares of ManpowerGroup by 140.0% during the 1st quarter. Quadrature Capital Ltd now owns 20,437 shares of the business services provider's stock worth $1,587,000 after buying an additional 11,921 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in ManpowerGroup by 2.2% during the first quarter. Capital Research Global Investors now owns 927,364 shares of the business services provider's stock worth $72,001,000 after buying an additional 19,819 shares during the last quarter. 98.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MAN shares. Truist Financial cut their price objective on shares of ManpowerGroup from $78.00 to $74.00 and set a "hold" rating for the company in a report on Friday, October 18th. BMO Capital Markets decreased their target price 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. Finally, UBS Group reduced their target price 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 MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $76.60.

ManpowerGroup Stock Performance

Shares of ManpowerGroup stock remained flat at $60.39 on Wednesday. 524,087 shares of the stock traded hands, compared to its average volume of 436,182. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market capitalization of $2.83 billion, a PE ratio of 76.42 and a beta of 1.46. The firm has a 50-day moving average of $68.03 and a 200-day moving average of $70.94. ManpowerGroup Inc. has a 1-year low of $59.35 and a 1-year high of $80.25.

ManpowerGroup (NYSE:MAN - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share (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 company had revenue of $4.53 billion for the quarter, compared to analysts' expectations of $4.48 billion. On average, analysts expect that ManpowerGroup Inc. will post 4.55 EPS for the current fiscal year.

ManpowerGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.545 dividend. This represents a $6.18 dividend on an annualized basis and a yield of 10.23%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from ManpowerGroup's previous quarterly dividend of $1.01. ManpowerGroup's dividend payout ratio is presently 389.88%.

Insider Buying and Selling at ManpowerGroup

In related news, CFO John T. Mcginnis acquired 8,000 shares of the company's stock in a transaction dated Wednesday, October 23rd. The shares were purchased at an average cost of $62.28 per share, with a total value of $498,240.00. Following the completion of the acquisition, the chief financial officer now directly owns 70,639 shares of the company's stock, valued at $4,399,396.92. This represents a 12.77 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.00% of the company's stock.

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.