Barclays Lowers ManpowerGroup (NYSE:MAN) Price Target to $55.00

ManpowerGroup (NYSE:MAN) had its target price cut by Barclays from $70.00 to $55.00 in a research report report published on Friday morning,Benzinga reports. They currently have an underweight rating on the business services provider’s stock.

A number of other research analysts have also commented on the company. Truist Financial cut their price target on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a report on Friday, October 18th. BMO Capital Markets decreased their price target on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research report on Friday, October 18th. Finally, UBS Group cut their price objective 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.00.

ManpowerGroup Trading Up 1.2 %

NYSE:MAN opened at $57.71 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $61.31 and its 200-day moving average is $67.66. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 73.05 and a beta of 1.46. ManpowerGroup has a 12 month low of $55.87 and a 12 month high of $78.87.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $4.53 billion during 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 anticipate that ManpowerGroup will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $1.545 per share. This represents a $6.18 dividend on an annualized basis and a yield of 10.71%. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. The ex-dividend date was Monday, December 2nd. ManpowerGroup’s payout ratio is presently 389.87%.

Insider Activity

In other news, CFO John T. Mcginnis purchased 8,000 shares of ManpowerGroup stock in a transaction on Wednesday, October 23rd. The shares were purchased at an average cost of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the transaction, the chief financial officer now directly owns 70,639 shares in the company, valued at approximately $4,399,396.92. This represents a 12.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MAN. Everence Capital Management Inc. bought a new position in ManpowerGroup in the 4th quarter valued at $201,000. JPMorgan Chase & Co. grew its holdings in ManpowerGroup by 1.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 162,534 shares of the business services provider’s stock worth $11,950,000 after acquiring an additional 1,999 shares during the last quarter. Franklin Resources Inc. increased its position in ManpowerGroup by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 186,295 shares of the business services provider’s stock valued at $13,464,000 after acquiring an additional 5,207 shares in the last quarter. Synovus Financial Corp raised its stake in shares of ManpowerGroup by 7.8% in the third quarter. Synovus Financial Corp now owns 7,922 shares of the business services provider’s stock worth $582,000 after acquiring an additional 570 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of ManpowerGroup in the third quarter worth about $207,000. Institutional investors own 98.03% of the company’s stock.

About ManpowerGroup

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.