Amalgamated Bank Sells 7,323 Shares of ManpowerGroup Inc. (NYSE:MAN)

Amalgamated Bank cut its holdings in ManpowerGroup Inc. (NYSE:MAN) by 24.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,638 shares of the business services provider’s stock after selling 7,323 shares during the period. Amalgamated Bank’s holdings in ManpowerGroup were worth $1,664,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of ManpowerGroup by 4.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,125,887 shares of the business services provider’s stock worth $287,987,000 after buying an additional 183,527 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of ManpowerGroup by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,299,985 shares of the business services provider’s stock valued at $160,539,000 after acquiring an additional 103,059 shares during the period. AQR Capital Management LLC increased its stake in shares of ManpowerGroup by 55.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,608,368 shares of the business services provider’s stock worth $112,264,000 after purchasing an additional 573,027 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of ManpowerGroup by 2.2% in the 1st quarter. Capital Research Global Investors now owns 927,364 shares of the business services provider’s stock worth $72,001,000 after purchasing an additional 19,819 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of ManpowerGroup by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 603,081 shares of the business services provider’s stock worth $42,095,000 after purchasing an additional 5,119 shares during the period. 98.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MAN has been the subject of a number of recent research reports. BMO Capital Markets decreased their target price on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a research report on Friday, October 18th. UBS Group lowered their price objective on 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 cut their target price on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. lowered their price target on shares of ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $76.60.

ManpowerGroup Trading Down 1.7 %

Shares of MAN opened at $63.39 on Wednesday. The business’s 50-day moving average price is $68.89 and its 200-day moving average price is $71.41. The company has a quick ratio of 1.14, a current ratio of 1.15 and a debt-to-equity ratio of 0.46. ManpowerGroup Inc. has a twelve month low of $61.53 and a twelve month high of $80.25. The stock has a market cap of $3.01 billion, a PE ratio of 80.24 and a beta of 1.46.

ManpowerGroup (NYSE:MAN) last posted its earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.48 billion. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. On average, equities analysts forecast that ManpowerGroup Inc. will post 4.58 EPS for the current fiscal year.

ManpowerGroup Increases Dividend

The firm 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. This represents a $6.18 annualized dividend and a yield of 9.75%. This is a boost from ManpowerGroup’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Monday, December 2nd. ManpowerGroup’s payout ratio is presently 389.87%.

Insider Buying and Selling at ManpowerGroup

In other ManpowerGroup news, CFO John T. Mcginnis acquired 8,000 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was bought at an average price of $62.28 per share, with a total value of $498,240.00. Following the completion of the acquisition, the chief financial officer now owns 70,639 shares of the company’s stock, 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 filing with the SEC, which is available through this hyperlink. Insiders own 2.40% of the company’s stock.

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.