Wilmington Savings Fund Society FSB Makes New Investment in ManpowerGroup Inc. (NYSE:MAN)

Wilmington Savings Fund Society FSB bought a new position in shares of ManpowerGroup Inc. (NYSE:MAN) during the third quarter, Holdings Channel reports. The institutional investor bought 2,819 shares of the business services provider’s stock, valued at approximately $207,000.

A number of other large investors also recently modified their holdings of MAN. Wealth Enhancement Advisory Services LLC grew its holdings in shares of ManpowerGroup by 8.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,749 shares of the business services provider’s stock valued at $401,000 after purchasing an additional 472 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in ManpowerGroup by 133.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,530 shares of the business services provider’s stock worth $386,000 after buying an additional 3,161 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in ManpowerGroup by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 9,029 shares of the business services provider’s stock worth $630,000 after buying an additional 207 shares during the last quarter. Retirement Systems of Alabama increased its position in ManpowerGroup by 1.3% in the second quarter. Retirement Systems of Alabama now owns 151,661 shares of the business services provider’s stock worth $10,586,000 after buying an additional 1,987 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in ManpowerGroup by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 603,081 shares of the business services provider’s stock valued at $42,095,000 after buying an additional 5,119 shares during the last quarter. 98.03% of the stock is currently owned by institutional investors.

ManpowerGroup Price Performance

Shares of NYSE MAN opened at $57.20 on Thursday. The stock has a market cap of $2.68 billion, a P/E ratio of 72.41 and a beta of 1.45. The firm’s 50-day simple moving average is $63.72 and its 200 day simple moving average is $68.95. ManpowerGroup Inc. has a fifty-two week low of $57.04 and a fifty-two week high of $80.25. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.46.

ManpowerGroup (NYSE:MAN) last released its 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. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.48 billion. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. Equities analysts expect that ManpowerGroup Inc. will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $1.545 dividend. This represents a $6.18 dividend on an annualized basis and a yield of 10.80%. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. The ex-dividend date was Monday, December 2nd. ManpowerGroup’s dividend payout ratio is 389.87%.

Insider Buying and Selling at ManpowerGroup

In other news, CFO John T. Mcginnis acquired 8,000 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was acquired at an average price of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on MAN. UBS Group lowered their price target on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, October 18th. BMO Capital Markets reduced 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. Finally, Truist Financial dropped their price target on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a research note on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $76.60.

ManpowerGroup 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.