Victory Capital Management Inc. Sells 90,516 Shares of ManpowerGroup Inc. (NYSE:MAN)

Victory Capital Management Inc. lowered its stake in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,035,371 shares of the business services provider's stock after selling 90,516 shares during the period. Victory Capital Management Inc. owned about 8.50% of ManpowerGroup worth $296,680,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its position in ManpowerGroup by 248.3% in the third quarter. Blue Trust Inc. now owns 526 shares of the business services provider's stock worth $37,000 after acquiring an additional 375 shares in the last quarter. Abich Financial Wealth Management LLC increased its position 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 worth $45,000 after buying an additional 224 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in ManpowerGroup during the first quarter worth $49,000. Headlands Technologies LLC bought a new position in ManpowerGroup during the second quarter valued at about $47,000. Finally, Innealta Capital LLC acquired a new stake in shares of ManpowerGroup in the second quarter worth about $50,000. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ManpowerGroup

In other ManpowerGroup news, CFO John T. Mcginnis acquired 8,000 shares of ManpowerGroup stock in a transaction on Wednesday, October 23rd. The shares were bought at an average price of $62.28 per share, with a total value of $498,240.00. Following the completion of the purchase, the chief financial officer now owns 70,639 shares in the company, valued at $4,399,396.92. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is currently owned by insiders.

ManpowerGroup Price Performance

NYSE MAN traded down $1.10 on Tuesday, reaching $63.39. The company's stock had a trading volume of 536,643 shares, compared to its average volume of 434,743. ManpowerGroup Inc. has a 52 week low of $61.53 and a 52 week high of $80.25. The company has a current ratio of 1.15, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46. The firm has a market cap of $3.01 billion, a PE ratio of 80.24 and a beta of 1.46. The business has a 50-day moving average price of $68.89 and a 200 day moving average price of $71.41.

ManpowerGroup (NYSE:MAN - Get Free Report) last issued its earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.01. The business had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.48 billion. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. Sell-side analysts expect that ManpowerGroup Inc. will post 4.58 EPS for the current 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 dividend of $1.545 per share. The ex-dividend date is Monday, December 2nd. This represents a $6.18 dividend on an annualized basis and a dividend yield of 9.75%. This is a boost from ManpowerGroup's previous quarterly dividend of $1.01. ManpowerGroup's dividend payout ratio (DPR) is 389.87%.

Wall Street Analyst Weigh In

MAN has been the subject of several analyst reports. Truist Financial reduced their target price on 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 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. JPMorgan Chase & Co. cut their target price on shares of ManpowerGroup from $84.00 to $75.00 and set a "neutral" rating for the company in a research report on Friday, July 19th. Finally, UBS Group reduced their price objective on ManpowerGroup from $78.00 to $71.00 and set a "neutral" rating for the company in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $76.60.

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.