Retirement Systems of Alabama Boosts Holdings in ManpowerGroup Inc. (NYSE:MAN)

Retirement Systems of Alabama raised its holdings in ManpowerGroup Inc. (NYSE:MAN - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 164,422 shares of the business services provider's stock after acquiring an additional 14,000 shares during the quarter. Retirement Systems of Alabama owned 0.35% of ManpowerGroup worth $9,490,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of ManpowerGroup by 248.3% during the 3rd quarter. Blue Trust Inc. now owns 526 shares of the business services provider's stock worth $37,000 after buying an additional 375 shares during the last quarter. WFA Asset Management Corp acquired a new position in shares of ManpowerGroup during the 4th quarter worth $35,000. Capital Performance Advisors LLP acquired a new position in shares of ManpowerGroup during the 3rd quarter worth $54,000. R Squared Ltd acquired a new position in shares of ManpowerGroup during the 4th quarter worth $95,000. Finally, Venturi Wealth Management LLC raised its stake in shares of ManpowerGroup by 400.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,666 shares of the business services provider's stock worth $122,000 after buying an additional 1,333 shares during the last quarter. Institutional investors and hedge funds own 98.03% of the company's stock.

ManpowerGroup Price Performance

MAN stock traded down $1.10 during trading on Wednesday, hitting $55.29. The stock had a trading volume of 646,517 shares, compared to its average volume of 753,918. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.15 and a current ratio of 1.12. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 18.49 and a beta of 1.45. The company's 50 day moving average price is $58.64 and its two-hundred day moving average price is $65.28. ManpowerGroup Inc. has a 1-year low of $53.70 and a 1-year high of $78.87.

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Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MAN shares. 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. BMO Capital Markets cut their price target on ManpowerGroup from $87.00 to $71.00 and set a "market perform" rating for the company in a research note on Friday, October 18th. Barclays cut their target price on shares of ManpowerGroup from $70.00 to $55.00 and set an "underweight" rating for the company in a research note on Friday, January 3rd. UBS Group cut their target price on shares of ManpowerGroup from $71.00 to $63.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. cut their target price on shares of ManpowerGroup from $67.00 to $65.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $69.33.

ManpowerGroup 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.