Cadence Capital Management LLC purchased a new stake in ManpowerGroup (NYSE:MAN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,744 shares of the business services provider’s stock, valued at approximately $323,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MAN. BlackRock Inc. grew its stake in ManpowerGroup by 0.3% in the 2nd quarter. BlackRock Inc. now owns 8,214,114 shares of the business services provider’s stock valued at $917,106,000 after purchasing an additional 28,442 shares during the period. Vanguard Group Inc. grew its stake in ManpowerGroup by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,286,080 shares of the business services provider’s stock valued at $701,840,000 after purchasing an additional 267,064 shares during the period. Boston Partners grew its stake in ManpowerGroup by 3.3% in the 2nd quarter. Boston Partners now owns 3,697,608 shares of the business services provider’s stock valued at $412,838,000 after purchasing an additional 119,340 shares during the period. AJO LP grew its stake in ManpowerGroup by 30.9% in the 2nd quarter. AJO LP now owns 1,839,632 shares of the business services provider’s stock valued at $205,395,000 after purchasing an additional 434,069 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in ManpowerGroup by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,617,999 shares of the business services provider’s stock valued at $180,643,000 after purchasing an additional 69,089 shares during the period. 94.66% of the stock is owned by institutional investors and hedge funds.
In other news, Director Patricia Hemingway Hall sold 3,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $127.54, for a total transaction of $382,620.00. Following the completion of the transaction, the director now owns 4,021 shares in the company, valued at approximately $512,838.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cari M. Dominguez sold 500 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $126.29, for a total value of $63,145.00. Following the transaction, the director now owns 16,990 shares of the company’s stock, valued at approximately $2,145,667.10. The disclosure for this sale can be found here. Insiders have sold a total of 30,015 shares of company stock valued at $3,762,970 in the last quarter. 0.87% of the stock is owned by corporate insiders.
ManpowerGroup (NYSE:MAN) last posted its quarterly earnings results on Friday, October 20th. The business services provider reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.08. The company had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.41 billion. ManpowerGroup had a return on equity of 17.80% and a net margin of 2.24%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.87 EPS. analysts predict that ManpowerGroup will post 6.9 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.93 per share. This is an increase from ManpowerGroup’s previous quarterly dividend of $0.86. The ex-dividend date is Thursday, November 30th. This represents a $3.72 annualized dividend and a dividend yield of 2.97%. ManpowerGroup’s dividend payout ratio is presently 27.68%.
A number of brokerages have issued reports on MAN. ValuEngine downgraded ManpowerGroup from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded ManpowerGroup from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Friday, October 27th. Argus upped their price objective on ManpowerGroup from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Nomura upped their price objective on ManpowerGroup from $127.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Finally, Credit Suisse Group restated a “neutral” rating and issued a $126.00 price objective (up previously from $111.00) on shares of ManpowerGroup in a research note on Monday, October 23rd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $126.71.
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ManpowerGroup Company Profile
ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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