ManpowerGroup Inc. (NYSE:MAN) Holdings Lowered by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of ManpowerGroup Inc. (NYSE:MAN) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,255 shares of the business services provider’s stock after selling 2,027 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.31% of ManpowerGroup worth $10,606,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MAN. Blue Trust Inc. lifted 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 purchasing an additional 375 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of ManpowerGroup during the second quarter valued at $47,000. Innealta Capital LLC purchased a new stake in shares of ManpowerGroup during the second quarter valued at $50,000. Capital Performance Advisors LLP purchased a new stake in shares of ManpowerGroup during the third quarter valued at $54,000. Finally, Abich Financial Wealth Management LLC lifted its stake in ManpowerGroup by 34.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 786 shares of the business services provider’s stock worth $55,000 after acquiring an additional 203 shares in the last quarter. 98.03% of the stock is owned by hedge funds and other institutional investors.

ManpowerGroup Stock Performance

Shares of MAN stock opened at $61.36 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.15. ManpowerGroup Inc. has a fifty-two week low of $59.35 and a fifty-two week high of $80.25. The stock’s 50-day moving average is $65.51 and its two-hundred day moving average is $69.72. The firm has a market cap of $2.88 billion, a P/E ratio of 77.67 and a beta of 1.45.

ManpowerGroup (NYSE:MAN) last issued its 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. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.48 billion. Analysts predict that ManpowerGroup Inc. will post 4.55 earnings per share for the current fiscal year.

ManpowerGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.545 dividend. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 annualized dividend and a yield of 10.07%. The ex-dividend date of this dividend is Monday, December 2nd. ManpowerGroup’s dividend payout ratio is presently 389.88%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MAN. BMO Capital Markets reduced their price objective on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a research note on Friday, October 18th. Truist Financial reduced their price objective on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research note on Friday, October 18th. 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 note on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $76.60.

Insiders Place Their Bets

In related news, CFO John T. Mcginnis acquired 8,000 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were 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. The trade was a 12.77 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

ManpowerGroup 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.