Foundry Partners LLC Invests $4.24 Million in ManpowerGroup Inc. (NYSE:MAN)

Foundry Partners LLC purchased a new position in shares of ManpowerGroup Inc. (NYSE:MAN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 57,731 shares of the business services provider’s stock, valued at approximately $4,244,000. Foundry Partners LLC owned 0.12% of ManpowerGroup as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC increased 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 worth $112,264,000 after acquiring an additional 573,027 shares during the period. Pzena Investment Management LLC bought a new stake in ManpowerGroup during the 2nd quarter worth approximately $24,508,000. Millennium Management LLC boosted its position in ManpowerGroup by 163.7% during the 2nd quarter. Millennium Management LLC now owns 407,970 shares of the business services provider’s stock worth $28,476,000 after acquiring an additional 253,287 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of 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 buying an additional 183,527 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in ManpowerGroup by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,299,985 shares of the business services provider’s stock worth $160,539,000 after buying an additional 103,059 shares during the period. 98.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO John T. Mcginnis acquired 8,000 shares of the firm’s stock in a transaction dated 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 acquisition, the chief financial officer now owns 70,639 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on MAN. UBS Group cut their price objective on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, October 18th. Truist Financial dropped their price objective on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a research report on Friday, October 18th. Finally, BMO Capital Markets cut their target price 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. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $76.60.

ManpowerGroup Trading Up 0.7 %

ManpowerGroup stock opened at $60.80 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.85 billion, a PE ratio of 76.96 and a beta of 1.46. The stock has a 50-day moving average price of $67.67 and a 200 day moving average price of $70.80. ManpowerGroup Inc. has a 52 week low of $59.35 and a 52 week high of $80.25.

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

ManpowerGroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.545 per share. This represents a $6.18 annualized dividend and a dividend yield of 10.16%. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Monday, December 2nd. 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.