480,012 Shares in ManpowerGroup Inc. (NYSE:MAN) Bought by Norges Bank

Norges Bank bought a new stake in ManpowerGroup Inc. (NYSE:MAN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 480,012 shares of the business services provider’s stock, valued at approximately $27,706,000.

Several other institutional investors have also modified their holdings of the company. Amica Mutual Insurance Co. bought a new position in ManpowerGroup in the 4th quarter worth about $370,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in ManpowerGroup by 6.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 92,700 shares of the business services provider’s stock valued at $5,351,000 after acquiring an additional 5,681 shares in the last quarter. Prudential Financial Inc. boosted its position in ManpowerGroup by 111.7% during the 4th quarter. Prudential Financial Inc. now owns 364,515 shares of the business services provider’s stock worth $21,040,000 after acquiring an additional 192,345 shares during the period. Fox Run Management L.L.C. bought a new position in shares of ManpowerGroup in the fourth quarter worth $750,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in ManpowerGroup in the fourth quarter worth about $975,000. Institutional investors own 98.03% of the company’s stock.

ManpowerGroup Stock Down 4.5 %

Shares of ManpowerGroup stock opened at $52.18 on Monday. ManpowerGroup Inc. has a 12-month low of $51.12 and a 12-month high of $78.87. The firm has a market capitalization of $2.44 billion, a PE ratio of 17.45 and a beta of 1.28. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The stock’s fifty day moving average is $57.86 and its 200-day moving average is $61.44.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MAN. JPMorgan Chase & Co. reduced their price target on shares of ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Truist Financial reaffirmed a “hold” rating and set a $70.00 price target (down from $74.00) on shares of ManpowerGroup in a research note on Friday, January 31st. Barclays dropped their price objective on ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating on the stock in a research note on Friday, January 3rd. Finally, UBS Group decreased their target price on ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $69.33.

ManpowerGroup 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.