ARGA Investment Management LP Increases Stock Position in ManpowerGroup Inc. (NYSE:MAN)

ARGA Investment Management LP raised its stake in shares of ManpowerGroup Inc. (NYSE:MAN) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,752 shares of the business services provider’s stock after purchasing an additional 1,544 shares during the quarter. ARGA Investment Management LP owned 0.20% of ManpowerGroup worth $5,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of MAN. Pacer Advisors Inc. lifted its holdings in shares of ManpowerGroup by 12,496.6% during the 3rd quarter. Pacer Advisors Inc. now owns 901,536 shares of the business services provider’s stock worth $66,281,000 after acquiring an additional 894,379 shares during the last quarter. Geode Capital Management LLC lifted its stake in ManpowerGroup by 0.5% during the third quarter. Geode Capital Management LLC now owns 794,704 shares of the business services provider’s stock worth $58,444,000 after purchasing an additional 4,113 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in ManpowerGroup by 6.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 549,698 shares of the business services provider’s stock worth $40,414,000 after purchasing an additional 32,083 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of ManpowerGroup by 4.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 403,070 shares of the business services provider’s stock worth $29,634,000 after purchasing an additional 15,407 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of ManpowerGroup by 480.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 324,866 shares of the business services provider’s stock valued at $23,884,000 after purchasing an additional 268,866 shares during the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Truist Financial reaffirmed a “hold” rating and issued a $70.00 target price (down previously from $74.00) on shares of ManpowerGroup in a research note on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on shares of ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. UBS Group decreased their target price on shares of ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Barclays lowered their price target 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. Finally, BMO Capital Markets reduced their price objective on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, ManpowerGroup has an average rating of “Hold” and an average target price of $69.33.

ManpowerGroup Trading Up 1.1 %

Shares of MAN opened at $59.08 on Wednesday. The stock has a market capitalization of $2.77 billion, a P/E ratio of 19.76 and a beta of 1.45. ManpowerGroup Inc. has a twelve month low of $53.70 and a twelve month high of $78.87. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $59.33 and a two-hundred day simple moving average of $65.86.

ManpowerGroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $1.545 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 annualized dividend and a dividend yield of 10.46%. ManpowerGroup’s dividend payout ratio (DPR) is presently 103.01%.

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.