Sterling Capital Management LLC Invests $2.56 Million in ManpowerGroup Inc. (NYSE:MAN)

Sterling Capital Management LLC acquired a new position in ManpowerGroup Inc. (NYSE:MAN) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 26,500 shares of the business services provider’s stock, valued at approximately $2,560,000.

Several other hedge funds also recently modified their holdings of the company. LSV Asset Management lifted its holdings in shares of ManpowerGroup by 11.8% in the 2nd quarter. LSV Asset Management now owns 2,131,555 shares of the business services provider’s stock worth $205,908,000 after acquiring an additional 224,300 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of ManpowerGroup by 23.4% in the 2nd quarter. Acadian Asset Management LLC now owns 973,295 shares of the business services provider’s stock worth $94,020,000 after acquiring an additional 184,634 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of ManpowerGroup by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 928,794 shares of the business services provider’s stock worth $89,721,000 after acquiring an additional 28,202 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ManpowerGroup by 22.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 724,604 shares of the business services provider’s stock worth $69,033,000 after acquiring an additional 134,275 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of ManpowerGroup by 2.1% in the 1st quarter. FMR LLC now owns 682,407 shares of the business services provider’s stock worth $56,428,000 after acquiring an additional 13,803 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

In other news, EVP Mara E. Swan sold 14,871 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $84.48, for a total value of $1,256,302.08. Following the sale, the executive vice president now directly owns 7,228 shares in the company, valued at approximately $610,621.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard Buchband sold 1,750 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $85.43, for a total transaction of $149,502.50. Following the completion of the sale, the senior vice president now owns 8,214 shares in the company, valued at $701,722.02. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by company insiders.

A number of research firms have issued reports on MAN. Bank of America reduced their target price on shares of ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. ValuEngine lowered shares of ManpowerGroup from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. increased their target price on shares of ManpowerGroup from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Royal Bank of Canada reduced their target price on shares of ManpowerGroup from $114.00 to $110.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, Credit Suisse Group lowered shares of ManpowerGroup from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $88.00 to $83.00 in a report on Wednesday, July 10th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $93.30.

ManpowerGroup stock traded up $0.66 during mid-day trading on Thursday, reaching $86.57. 13,476 shares of the company’s stock were exchanged, compared to its average volume of 427,131. The company has a market cap of $5.18 billion, a P/E ratio of 9.71, a P/E/G ratio of 3.67 and a beta of 1.60. ManpowerGroup Inc. has a twelve month low of $61.57 and a twelve month high of $97.96. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $84.92 and a 200-day moving average of $88.51.

ManpowerGroup (NYSE:MAN) last released its earnings results on Friday, July 19th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.06. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.41 billion. ManpowerGroup had a net margin of 2.34% and a return on equity of 19.19%. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.35 EPS. Equities research analysts expect that ManpowerGroup Inc. will post 7.56 earnings per share for the current fiscal year.

ManpowerGroup announced that its Board of Directors has authorized a share buyback plan on Friday, August 2nd that permits the company to repurchase 6,000,000 outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

ManpowerGroup Company Profile

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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Institutional Ownership by Quarter for ManpowerGroup (NYSE:MAN)

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