State Street Corp Lowers Holdings in ManpowerGroup Inc. (NYSE:MAN)

State Street Corp reduced its holdings in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 21.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,550,801 shares of the business services provider's stock after selling 418,672 shares during the period. State Street Corp owned 3.30% of ManpowerGroup worth $114,015,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MAN. SG Americas Securities LLC bought a new stake in ManpowerGroup during the 2nd quarter valued at about $667,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of ManpowerGroup by 8.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,749 shares of the business services provider's stock worth $401,000 after purchasing an additional 472 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of ManpowerGroup by 133.4% in the second quarter. Nisa Investment Advisors LLC now owns 5,530 shares of the business services provider's stock worth $386,000 after purchasing an additional 3,161 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in shares of ManpowerGroup during the second quarter valued at $384,000. Finally, SummerHaven Investment Management LLC boosted its position in shares of ManpowerGroup by 2.3% during the second quarter. SummerHaven Investment Management LLC now owns 9,029 shares of the business services provider's stock valued at $630,000 after buying an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 98.03% of the company's stock.

Insider Transactions at ManpowerGroup

In related news, CFO John T. Mcginnis bought 8,000 shares of the business's stock in a transaction dated Wednesday, October 23rd. The shares were purchased at an average price 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 $4,399,396.92. This trade represents a 12.77 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

MAN has been the topic of several research analyst reports. UBS Group lowered their target price on shares of ManpowerGroup from $78.00 to $71.00 and set a "neutral" rating on the stock in a research note on Friday, October 18th. Truist Financial dropped their target price on shares of ManpowerGroup from $78.00 to $74.00 and set a "hold" rating on the stock in a report on Friday, October 18th. Finally, BMO Capital Markets decreased 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. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $76.60.

ManpowerGroup Stock Performance

ManpowerGroup stock traded down $1.82 during trading on Monday, reaching $59.36. The company had a trading volume of 572,883 shares, compared to its average volume of 447,969. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 75.14 and a beta of 1.45. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. The firm's 50-day simple moving average is $64.23 and its 200 day simple moving average is $69.14. ManpowerGroup Inc. has a 52 week low of $59.32 and a 52 week high of $80.25.

ManpowerGroup (NYSE:MAN - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The business services provider reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.01. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. The firm had revenue of $4.53 billion for the quarter, compared to analysts' expectations of $4.48 billion. Sell-side analysts forecast that ManpowerGroup Inc. will post 4.55 earnings per share for the current fiscal year.

ManpowerGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.545 dividend. This is an increase from ManpowerGroup's previous quarterly dividend of $1.01. This represents a $6.18 dividend on an annualized basis and a dividend yield of 10.41%. The ex-dividend date of this dividend is Monday, December 2nd. ManpowerGroup's payout ratio is currently 389.87%.

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.