Ashton Thomas Private Wealth LLC Reduces Position in ManpowerGroup Inc. (NYSE:MAN)

Ashton Thomas Private Wealth LLC lessened its holdings in ManpowerGroup Inc. (NYSE:MAN) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,942 shares of the business services provider’s stock after selling 382 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in ManpowerGroup were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new position in ManpowerGroup during the 3rd quarter worth $205,000. Entropy Technologies LP increased its position in ManpowerGroup by 70.7% during the 3rd quarter. Entropy Technologies LP now owns 6,081 shares of the business services provider’s stock valued at $447,000 after buying an additional 2,519 shares in the last quarter. Versor Investments LP raised its position in shares of ManpowerGroup by 19.1% in the 3rd quarter. Versor Investments LP now owns 8,721 shares of the business services provider’s stock valued at $641,000 after purchasing an additional 1,400 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of ManpowerGroup by 400.3% in the third quarter. Venturi Wealth Management LLC now owns 1,666 shares of the business services provider’s stock worth $122,000 after buying an additional 1,333 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in ManpowerGroup by 3.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 26,947 shares of the business services provider’s stock worth $1,981,000 after acquiring an additional 887 shares during the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.

Analyst Upgrades and Downgrades

MAN has been the subject of a number of recent research reports. BMO Capital Markets decreased 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 decreased their target price on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a research report on Friday, October 18th. UBS Group lowered their price objective on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. decreased their price target on shares of ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, ManpowerGroup currently has an average rating of “Hold” and an average price target of $76.60.

Insider Buying and Selling

In related news, CFO John T. Mcginnis acquired 8,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were bought at an average price of $62.28 per share, with a total value of $498,240.00. Following the completion of the acquisition, the chief financial officer now owns 70,639 shares in the company, valued at $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 this link. Insiders own 2.40% of the company’s stock.

ManpowerGroup Trading Down 1.0 %

Shares of NYSE MAN opened at $63.13 on Friday. The stock has a fifty day simple moving average of $68.54 and a 200-day simple moving average of $71.30. ManpowerGroup Inc. has a twelve month low of $61.53 and a twelve month high of $80.25. The stock has a market capitalization of $2.96 billion, a PE ratio of 79.91 and a beta of 1.46. The company has a current ratio of 1.15, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46.

ManpowerGroup (NYSE:MAN) last issued its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 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 during the quarter, compared to analysts’ expectations of $4.48 billion. On average, equities analysts forecast that ManpowerGroup Inc. will post 4.55 earnings per share for the current year.

ManpowerGroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.545 dividend. The ex-dividend date is Monday, December 2nd. This represents a $6.18 dividend on an annualized basis and a yield of 9.79%. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. ManpowerGroup’s payout ratio 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.