Stanley Laman Group Ltd. increased its stake in ManpowerGroup Inc. (NYSE:MAN) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,838 shares of the business services provider’s stock after acquiring an additional 174 shares during the period. Stanley Laman Group Ltd.’s holdings in ManpowerGroup were worth $661,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MAN. Victory Capital Management Inc. lifted its stake in shares of ManpowerGroup by 4,521.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,403,200 shares of the business services provider’s stock valued at $116,031,000 after acquiring an additional 1,372,837 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of ManpowerGroup by 171.5% in the 1st quarter. JPMorgan Chase & Co. now owns 590,329 shares of the business services provider’s stock valued at $48,815,000 after acquiring an additional 372,917 shares during the last quarter. FMR LLC lifted its stake in shares of ManpowerGroup by 75.2% in the 4th quarter. FMR LLC now owns 668,604 shares of the business services provider’s stock valued at $43,326,000 after acquiring an additional 287,019 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of ManpowerGroup by 62.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 343,720 shares of the business services provider’s stock valued at $28,424,000 after acquiring an additional 132,752 shares during the last quarter. Finally, Andra AP fonden bought a new stake in shares of ManpowerGroup in the 1st quarter valued at about $9,708,000. 91.24% of the stock is owned by institutional investors.
Shares of MAN stock traded down $0.57 during midday trading on Thursday, reaching $83.27. 65,773 shares of the stock were exchanged, compared to its average volume of 556,761. ManpowerGroup Inc. has a 1 year low of $61.57 and a 1 year high of $97.96. The company has a 50 day simple moving average of $91.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 3.63 and a beta of 1.55.
ManpowerGroup declared that its board has authorized a share repurchase program on Friday, August 2nd that permits the company to buyback 6,000,000 outstanding shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.
MAN has been the subject of a number of recent analyst reports. Bank of America lowered their price target on ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. ValuEngine raised ManpowerGroup from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Royal Bank of Canada lowered their price target on ManpowerGroup from $114.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their price target on ManpowerGroup from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, Credit Suisse Group lowered ManpowerGroup from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $88.00 to $83.00 in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $93.30.
ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. 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.
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