Hotchkis & Wiley Capital Management LLC Trims Stock Position in ManpowerGroup Inc. (NYSE:MAN)

Hotchkis & Wiley Capital Management LLC cut its stake in ManpowerGroup Inc. (NYSE:MAN) by 0.9% in the third quarter, Holdings Channel reports. The fund owned 792,640 shares of the business services provider’s stock after selling 7,300 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in ManpowerGroup were worth $58,275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. increased its position in ManpowerGroup by 12,496.6% during the third quarter. Pacer Advisors Inc. now owns 901,536 shares of the business services provider’s stock worth $66,281,000 after buying an additional 894,379 shares in the last quarter. AQR Capital Management LLC grew its position in ManpowerGroup by 55.3% during the second quarter. AQR Capital Management LLC now owns 1,608,368 shares of the business services provider’s stock valued at $112,264,000 after purchasing an additional 573,027 shares in the last quarter. Pzena Investment Management LLC bought a new stake in shares of ManpowerGroup during the 2nd quarter worth $24,508,000. Millennium Management LLC increased its holdings in ManpowerGroup by 163.7% in the 2nd quarter. Millennium Management LLC now owns 407,970 shares of the business services provider’s stock valued at $28,476,000 after buying an additional 253,287 shares during the period. Finally, Victory Capital Management Inc. increased its position in ManpowerGroup by 4.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,125,887 shares of the business services provider’s stock valued at $287,987,000 after acquiring an additional 183,527 shares in the last quarter. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MAN shares. 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 report on Friday, October 18th. Truist Financial dropped their target price on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $76.60.

Insider Activity

In other news, CFO John T. Mcginnis purchased 8,000 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was bought at an average cost of $62.28 per share, with a total value of $498,240.00. Following the purchase, the chief financial officer now directly owns 70,639 shares of the company’s stock, valued at approximately $4,399,396.92. This trade represents a 12.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.

ManpowerGroup Trading Down 1.8 %

Shares of MAN opened at $63.18 on Tuesday. The company has a 50 day simple moving average of $66.38 and a two-hundred day simple moving average of $70.06. The firm has a market cap of $2.97 billion, a P/E ratio of 79.98 and a beta of 1.45. 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 1 year low of $59.35 and a 1 year high of $80.25.

ManpowerGroup (NYSE:MAN) last announced its 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. The business had revenue of $4.53 billion for 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%. On average, equities analysts expect 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 will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.545 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.18 dividend on an annualized basis and a yield of 9.78%. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. ManpowerGroup’s dividend payout ratio (DPR) is currently 389.88%.

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.