Thrivent Financial for Lutherans Boosts Position in ManpowerGroup Inc. (NYSE:MAN)

Thrivent Financial for Lutherans grew its stake in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 346.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,855 shares of the business services provider's stock after acquiring an additional 40,234 shares during the period. Thrivent Financial for Lutherans owned 0.11% of ManpowerGroup worth $3,812,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in ManpowerGroup by 248.3% in the 3rd quarter. Blue Trust Inc. now owns 526 shares of the business services provider's stock worth $37,000 after purchasing an additional 375 shares during the period. Abich Financial Wealth Management LLC grew its stake in ManpowerGroup by 62.4% during the first quarter. Abich Financial Wealth Management LLC now owns 583 shares of the business services provider's stock valued at $45,000 after acquiring an additional 224 shares in the last quarter. Headlands Technologies LLC bought a new stake in ManpowerGroup during the 2nd quarter worth approximately $47,000. Advisors Asset Management Inc. purchased a new stake in ManpowerGroup in the 1st quarter worth approximately $49,000. Finally, Innealta Capital LLC bought a new position in ManpowerGroup in the 2nd quarter valued at $50,000. 98.03% of the stock is owned by institutional investors.

ManpowerGroup Price Performance

Shares of NYSE MAN traded up $2.32 during trading hours on Monday, reaching $64.80. 650,978 shares of the stock traded hands, compared to its average volume of 437,132. The company's 50-day simple moving average is $67.35 and its two-hundred day simple moving average is $70.53. The company has a market capitalization of $3.04 billion, a P/E ratio of 82.03 and a beta of 1.46. ManpowerGroup Inc. has a 52-week low of $59.35 and a 52-week high of $80.25. 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 for the quarter, topping analysts' consensus estimates of $1.28 by $0.01. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.48 billion. Equities research analysts forecast that ManpowerGroup Inc. will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.545 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.18 annualized dividend and a dividend yield of 9.54%. This is an increase from ManpowerGroup's previous quarterly dividend of $1.01. ManpowerGroup's payout ratio is currently 389.87%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Truist Financial dropped their price objective on ManpowerGroup from $78.00 to $74.00 and set a "hold" rating for the company in a research note on Friday, October 18th. UBS Group cut their price objective on ManpowerGroup from $78.00 to $71.00 and set a "neutral" rating for the company in a report on Friday, October 18th. Finally, BMO Capital Markets lowered their target price on shares of ManpowerGroup from $87.00 to $71.00 and set a "market perform" rating on the stock in a research note on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, ManpowerGroup currently has a consensus rating of "Hold" and an average price target of $76.60.

Insider Activity

In other news, CFO John T. Mcginnis purchased 8,000 shares of the company's stock in a transaction on Wednesday, October 23rd. The stock was acquired 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 directly owns 70,639 shares of the company's stock, valued at approximately $4,399,396.92. This represents a 12.77 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is currently owned by corporate insiders.

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.