Summit Investment Advisors Inc. Boosts Stock Position in ManpowerGroup Inc. (NYSE:MAN)

Summit Investment Advisors Inc. boosted its position in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 80.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,001 shares of the business services provider's stock after acquiring an additional 12,467 shares during the quarter. Summit Investment Advisors Inc. owned 0.06% of ManpowerGroup worth $1,616,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. WFA Asset Management Corp acquired a new position in shares of ManpowerGroup in the 4th quarter valued at $35,000. SRS Capital Advisors Inc. lifted its holdings in ManpowerGroup by 171.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 890 shares of the business services provider's stock valued at $51,000 after purchasing an additional 562 shares in the last quarter. Blue Trust Inc. grew its stake in shares of ManpowerGroup by 147.9% during the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the business services provider's stock valued at $75,000 after buying an additional 778 shares during the period. R Squared Ltd acquired a new position in shares of ManpowerGroup during the fourth quarter worth about $95,000. Finally, PNC Financial Services Group Inc. increased its holdings in ManpowerGroup by 34.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,301 shares of the business services provider's stock worth $133,000 after purchasing an additional 587 shares during the last quarter. Institutional investors and hedge funds own 98.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial dropped their price target on shares of ManpowerGroup from $70.00 to $55.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on ManpowerGroup from $67.00 to $65.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. UBS Group decreased their price objective on ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Barclays raised ManpowerGroup from an "underweight" rating to an "equal weight" rating and dropped their price target for the company from $55.00 to $50.00 in a report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $65.00.

ManpowerGroup Price Performance

NYSE MAN traded down $0.22 during midday trading on Monday, hitting $39.85. The company had a trading volume of 325,771 shares, compared to its average volume of 823,007. The company has a current ratio of 1.12, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. ManpowerGroup Inc. has a twelve month low of $39.22 and a twelve month high of $78.87. The company has a market capitalization of $1.86 billion, a PE ratio of 13.33 and a beta of 1.28. The firm has a 50-day moving average price of $55.49 and a 200-day moving average price of $59.49.

ManpowerGroup (NYSE:MAN - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.08). ManpowerGroup had a net margin of 0.81% and a return on equity of 10.19%. The firm had revenue of $698.30 million during the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the business posted $0.94 EPS. As a group, analysts anticipate that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

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.