Victory Capital Management Inc. Sells 90,516 Shares of ManpowerGroup Inc. (NYSE:MAN)

Victory Capital Management Inc. reduced its holdings in ManpowerGroup Inc. (NYSE:MAN) by 2.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,035,371 shares of the business services provider’s stock after selling 90,516 shares during the quarter. Victory Capital Management Inc. owned 0.09% of ManpowerGroup worth $296,680,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MAN. Blue Trust Inc. raised its stake in ManpowerGroup by 248.3% in the third quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock worth $37,000 after buying an additional 375 shares in the last quarter. Abich Financial Wealth Management LLC raised its position in shares of ManpowerGroup by 62.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 583 shares of the business services provider’s stock worth $45,000 after acquiring an additional 224 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of ManpowerGroup in the 2nd quarter valued at approximately $47,000. Advisors Asset Management Inc. bought a new stake in shares of ManpowerGroup during the first quarter valued at approximately $49,000. Finally, Innealta Capital LLC purchased a new stake in ManpowerGroup in the second quarter worth $50,000. 98.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on MAN shares. BMO Capital Markets lowered their price objective on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a research report on Friday, October 18th. UBS Group dropped their price objective on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, October 18th. JPMorgan Chase & Co. decreased their target price on shares of ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Finally, Truist Financial dropped their price target on ManpowerGroup from $78.00 to $74.00 and set a “hold” 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $76.60.

ManpowerGroup Stock Down 0.7 %

Shares of NYSE MAN traded down $0.42 during midday trading on Tuesday, hitting $64.07. The stock had a trading volume of 61,404 shares, compared to its average volume of 432,760. The company has a market cap of $3.04 billion, a P/E ratio of 81.63 and a beta of 1.46. The company has a quick ratio of 1.14, a current ratio of 1.15 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $69.06 and its 200-day moving average is $71.50. ManpowerGroup Inc. has a 52 week low of $61.53 and a 52 week high of $80.25.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Thursday, October 17th. The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.48 billion. As a group, analysts predict that ManpowerGroup Inc. will post 4.58 EPS for the current year.

ManpowerGroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.545 per share. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 dividend on an annualized basis and a dividend yield of 9.65%. The ex-dividend date of this dividend is Monday, December 2nd. ManpowerGroup’s payout ratio is currently 389.87%.

Insider Activity at ManpowerGroup

In other ManpowerGroup news, CFO John T. Mcginnis purchased 8,000 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were acquired 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 owns 70,639 shares of the company’s stock, valued at approximately $4,399,396.92. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.40% of the stock is currently owned by company insiders.

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.