15,500 Shares in ManpowerGroup Inc. (NYSE:MAN) Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of ManpowerGroup Inc. (NYSE:MAN) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 15,500 shares of the business services provider’s stock, valued at approximately $1,140,000.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of ManpowerGroup by 248.3% during the 3rd quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock valued at $37,000 after buying an additional 375 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of ManpowerGroup in the second quarter valued at about $47,000. Innealta Capital LLC bought a new position in shares of ManpowerGroup in the second quarter worth about $50,000. Capital Performance Advisors LLP purchased a new stake in shares of ManpowerGroup during the third quarter worth about $54,000. Finally, Abich Financial Wealth Management LLC raised its stake in ManpowerGroup by 34.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 786 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 203 shares during the period. 98.03% of the stock is currently owned by institutional investors.

ManpowerGroup Stock Performance

Shares of NYSE:MAN opened at $63.18 on Tuesday. The firm has a fifty day simple moving average of $66.59 and a two-hundred day simple moving average of $70.15. 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. The stock has a market capitalization of $2.97 billion, a P/E ratio of 79.97 and a beta of 1.46.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.28 by $0.01. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.48 billion. On average, analysts expect that ManpowerGroup Inc. will post 4.55 earnings per share for the current fiscal year.

ManpowerGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.545 per share. This represents a $6.18 annualized dividend and a yield of 9.78%. This is a positive change 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 news, CFO John T. Mcginnis acquired 8,000 shares of ManpowerGroup stock in a transaction that occurred on Wednesday, October 23rd. The shares were bought at an average cost 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 $4,399,396.92. This trade represents a 12.77 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

MAN has been the subject of a number of research analyst reports. Truist Financial cut their price objective on shares of 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 reduced their price target on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a report on Friday, October 18th. Finally, UBS Group decreased their price target 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. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, ManpowerGroup currently has a consensus rating of “Hold” and a consensus price target of $76.60.

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.