Municipal Employees Retirement System of Michigan raised its position in ManpowerGroup Inc. (NYSE:MAN) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,160 shares of the business services provider’s stock after buying an additional 120 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in ManpowerGroup were worth $1,078,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. LSV Asset Management raised its stake in shares of ManpowerGroup by 4.4% during the 1st quarter. LSV Asset Management now owns 1,907,255 shares of the business services provider’s stock valued at $157,710,000 after purchasing an additional 79,792 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of ManpowerGroup by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,592,465 shares of the business services provider’s stock valued at $103,194,000 after purchasing an additional 75,824 shares during the period. Victory Capital Management Inc. raised its stake in shares of ManpowerGroup by 4,521.4% during 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 purchasing an additional 1,372,837 shares during the period. FMR LLC raised its stake in shares of ManpowerGroup by 2.1% during the 1st quarter. FMR LLC now owns 682,407 shares of the business services provider’s stock valued at $56,428,000 after purchasing an additional 13,803 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of ManpowerGroup by 171.5% during the 1st quarter. JPMorgan Chase & Co. now owns 590,329 shares of the business services provider’s stock valued at $48,815,000 after purchasing an additional 372,917 shares during the period. Hedge funds and other institutional investors own 91.24% of the company’s stock.
A number of analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on ManpowerGroup from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Royal Bank of Canada decreased their price objective on ManpowerGroup from $114.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Bank of America decreased their price objective on ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Credit Suisse Group lowered ManpowerGroup from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $88.00 to $83.00 in a research note on Wednesday, July 10th. Finally, ValuEngine upgraded ManpowerGroup from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $93.30.
ManpowerGroup (NYSE:MAN) last announced its earnings results on Friday, July 19th. The business services provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.41 billion. ManpowerGroup had a return on equity of 19.19% and a net margin of 2.34%. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.35 EPS. On average, sell-side analysts expect that ManpowerGroup Inc. will post 7.63 EPS for the current fiscal year.
ManpowerGroup declared that its Board of Directors has authorized a share repurchase program on Friday, August 2nd that allows the company to repurchase 6,000,000 outstanding shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership 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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