First Trust Advisors LP lowered its stake in shares of ManpowerGroup Inc. (NYSE:MAN) by 3.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 260,405 shares of the business services provider’s stock after selling 8,025 shares during the period. First Trust Advisors LP’s holdings in ManpowerGroup were worth $21,937,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Symmetry Partners LLC bought a new position in shares of ManpowerGroup during the 3rd quarter worth approximately $347,000. Empowered Funds LLC raised its holdings in ManpowerGroup by 10.9% during the 3rd quarter. Empowered Funds LLC now owns 26,647 shares of the business services provider’s stock valued at $2,245,000 after acquiring an additional 2,609 shares during the period. Mackay Shields LLC raised its holdings in ManpowerGroup by 41.0% during the 3rd quarter. Mackay Shields LLC now owns 259,644 shares of the business services provider’s stock valued at $21,873,000 after acquiring an additional 75,521 shares during the period. IFM Investors Pty Ltd raised its holdings in ManpowerGroup by 44.6% during the 3rd quarter. IFM Investors Pty Ltd now owns 5,345 shares of the business services provider’s stock valued at $450,000 after acquiring an additional 1,648 shares during the period. Finally, ARP Americas LP bought a new stake in ManpowerGroup during the 3rd quarter valued at $236,000. Institutional investors and hedge funds own 94.78% of the company’s stock.
MAN has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of ManpowerGroup from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Argus cut shares of ManpowerGroup from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. ValuEngine raised shares of ManpowerGroup from a “strong sell” rating to a “sell” rating in a report on Thursday, October 24th. Bank of America lowered 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. Finally, CL King initiated coverage on shares of ManpowerGroup in a report on Wednesday. They set a “buy” rating and a $107.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $95.75.
The company also recently declared a Semi-Annual dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.09 per share. The ex-dividend date is Friday, November 29th. ManpowerGroup’s dividend payout ratio (DPR) is currently 24.36%.
ManpowerGroup declared that its board has approved a share repurchase plan on Friday, August 2nd that permits the company to buyback 6,000,000 shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Ulice Payne, Jr. sold 475 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $93.17, for a total transaction of $44,255.75. Following the completion of the transaction, the director now directly owns 7,561 shares in the company, valued at approximately $704,458.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Handel Michael J. Van sold 9,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $92.09, for a total transaction of $828,810.00. Following the transaction, the director now owns 8,283 shares of the company’s stock, valued at $762,781.47. The disclosure for this sale can be found here. Insiders have sold a total of 37,583 shares of company stock valued at $3,318,638 over the last 90 days. Company insiders own 1.49% of the company’s stock.
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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