ManpowerGroup (NYSE:MAN) Price Target Cut to $55.00 by Analysts at Barclays

ManpowerGroup (NYSE:MAN) had its price target trimmed by Barclays from $70.00 to $55.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an underweight rating on the business services provider’s stock.

A number of other research firms have also recently commented on MAN. UBS Group lowered their target price on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, October 18th. BMO Capital Markets lowered their price objective 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. Finally, Truist Financial reduced their target price on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, ManpowerGroup has an average rating of “Hold” and an average price target of $73.00.

ManpowerGroup Stock Up 1.2 %

Shares of ManpowerGroup stock opened at $57.71 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. ManpowerGroup has a 12-month low of $55.87 and a 12-month high of $78.87. The company has a market cap of $2.71 billion, a P/E ratio of 73.05 and a beta of 1.46. The company’s fifty day simple moving average is $61.31 and its two-hundred day simple moving average is $67.72.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Research analysts anticipate that ManpowerGroup will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $1.545 per share. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 dividend on an annualized basis and a yield of 10.71%. The ex-dividend date of this dividend was Monday, December 2nd. ManpowerGroup’s dividend payout ratio (DPR) is currently 389.87%.

Insiders Place Their Bets

In other ManpowerGroup news, CFO John T. Mcginnis bought 8,000 shares of ManpowerGroup 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 acquisition, the chief financial officer now owns 70,639 shares in the company, valued at approximately $4,399,396.92. This trade represents a 12.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On ManpowerGroup

Several institutional investors have recently modified their holdings of MAN. Everence Capital Management Inc. purchased a new position in ManpowerGroup in the 4th quarter worth about $201,000. JPMorgan Chase & Co. grew its stake in shares of ManpowerGroup by 1.2% in the third quarter. JPMorgan Chase & Co. now owns 162,534 shares of the business services provider’s stock worth $11,950,000 after acquiring an additional 1,999 shares during the period. Franklin Resources Inc. raised its holdings in shares of ManpowerGroup by 2.9% during the third quarter. Franklin Resources Inc. now owns 186,295 shares of the business services provider’s stock valued at $13,464,000 after purchasing an additional 5,207 shares during the last quarter. Synovus Financial Corp lifted its position in ManpowerGroup by 7.8% during the third quarter. Synovus Financial Corp now owns 7,922 shares of the business services provider’s stock valued at $582,000 after purchasing an additional 570 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in ManpowerGroup in the third quarter worth approximately $207,000. 98.03% of the stock is owned by hedge funds and other institutional investors.

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.