Nordea Investment Management AB Boosts Stock Holdings in ManpowerGroup Inc. (NYSE:MAN)

Nordea Investment Management AB raised its holdings in ManpowerGroup Inc. (NYSE:MAN) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,153 shares of the business services provider’s stock after purchasing an additional 3,886 shares during the period. Nordea Investment Management AB owned 0.18% of ManpowerGroup worth $4,835,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MAN. Blue Trust Inc. increased its stake in shares of ManpowerGroup by 248.3% in the third quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock worth $37,000 after purchasing an additional 375 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of ManpowerGroup in the second quarter worth about $47,000. Capital Performance Advisors LLP purchased a new position in shares of ManpowerGroup in the third quarter worth about $54,000. Abich Financial Wealth Management LLC grew its stake in ManpowerGroup by 34.8% during the second quarter. Abich Financial Wealth Management LLC now owns 786 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 203 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in ManpowerGroup by 400.3% during the third quarter. Venturi Wealth Management LLC now owns 1,666 shares of the business services provider’s stock valued at $122,000 after acquiring an additional 1,333 shares in the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.

ManpowerGroup Trading Down 1.4 %

Shares of ManpowerGroup stock opened at $54.55 on Friday. ManpowerGroup Inc. has a 1 year low of $53.70 and a 1 year high of $78.87. The firm has a market cap of $2.56 billion, a PE ratio of 69.05 and a beta of 1.46. 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 company has a 50 day simple moving average of $60.72 and a two-hundred day simple moving average of $67.28.

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

ManpowerGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $1.545 dividend. This represents a $6.18 dividend on an annualized basis and a dividend yield of 11.33%. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. The ex-dividend date was Monday, December 2nd. ManpowerGroup’s payout ratio is presently 389.87%.

Insider Transactions at ManpowerGroup

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, with a total value of $498,240.00. Following the completion of the purchase, the chief financial officer now directly owns 70,639 shares in the company, valued at $4,399,396.92. This represents a 12.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of 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 shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research note on Friday, October 18th. UBS Group reduced their price objective on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, October 18th. Finally, Barclays reduced their price objective on shares of ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $73.00.

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.