ManpowerGroup (NYSE:MAN) Reaches New 1-Year Low – Here’s What Happened

ManpowerGroup Inc. (NYSE:MAN) shares hit a new 52-week low on Friday . The company traded as low as $61.35 and last traded at $61.50, with a volume of 166348 shares traded. The stock had previously closed at $63.15.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Truist Financial cut their price objective on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a report on Friday, October 18th. BMO Capital Markets dropped their price target 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, UBS Group lowered their target price on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $76.60.

ManpowerGroup Trading Down 2.4 %

The company’s 50-day moving average is $68.54 and its 200 day moving average is $71.30. The company has a current ratio of 1.15, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46. The firm has a market cap of $2.89 billion, a PE ratio of 79.91 and a beta of 1.46.

ManpowerGroup (NYSE:MAN) last released its earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.48 billion. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. As a group, sell-side analysts predict that ManpowerGroup Inc. will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The business 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 is a boost from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 annualized dividend and a dividend yield of 10.03%. The ex-dividend date is Monday, December 2nd. ManpowerGroup’s payout ratio is currently 389.88%.

Insider Activity at ManpowerGroup

In other ManpowerGroup news, CFO John T. Mcginnis bought 8,000 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was bought at an average cost of $62.28 per share, with a total value of $498,240.00. Following the completion of the transaction, the chief financial officer now directly owns 70,639 shares of the company’s stock, valued at approximately $4,399,396.92. The trade was a 12.77 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On ManpowerGroup

A number of large investors have recently bought and sold shares of MAN. Blue Trust Inc. raised its stake in shares of ManpowerGroup by 248.3% in the 3rd quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 375 shares in the last quarter. Abich Financial Wealth Management LLC boosted its holdings in ManpowerGroup by 62.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 583 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 224 shares during the period. Headlands Technologies LLC bought a new position in ManpowerGroup during the second quarter valued at about $47,000. Advisors Asset Management Inc. acquired a new position in ManpowerGroup in the 1st quarter valued at approximately $49,000. Finally, Innealta Capital LLC bought a new stake in shares of ManpowerGroup in the 2nd quarter worth approximately $50,000. 98.03% of the stock is currently owned by institutional investors.

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.