Geode Capital Management LLC Purchases 4,113 Shares of ManpowerGroup Inc. (NYSE:MAN)

Geode Capital Management LLC boosted its position in shares of ManpowerGroup Inc. (NYSE:MAN) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 794,704 shares of the business services provider’s stock after purchasing an additional 4,113 shares during the quarter. Geode Capital Management LLC owned about 1.69% of ManpowerGroup worth $58,444,000 at the end of the most recent reporting period.

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

ManpowerGroup Stock Performance

MAN opened at $56.94 on Friday. The company has a 50 day simple moving average of $63.16 and a two-hundred day simple moving average of $68.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market cap of $2.67 billion, a P/E ratio of 72.08 and a beta of 1.45. ManpowerGroup Inc. has a 1-year low of $55.87 and a 1-year high of $80.25.

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

ManpowerGroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $1.545 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $6.18 annualized dividend and a yield of 10.85%. This is a boost from ManpowerGroup’s previous quarterly dividend of $1.01. ManpowerGroup’s payout ratio is presently 389.87%.

Insiders Place Their Bets

In other news, CFO John T. Mcginnis bought 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were bought at an average cost of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the transaction, the chief financial officer now owns 70,639 shares of the company’s stock, valued at approximately $4,399,396.92. This represents a 12.77 % 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. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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