ManpowerGroup (NYSE:MAN) Given New $63.00 Price Target at UBS Group

ManpowerGroup (NYSE:MAN) had its target price lowered by UBS Group from $71.00 to $63.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

A number of other analysts also recently issued reports on the company. Barclays lowered their target price on ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating on the stock in a research report on Friday, January 3rd. Truist Financial lowered their target price on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a research report on Friday, October 18th. Finally, BMO Capital Markets lowered their target price on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $71.67.

ManpowerGroup Price Performance

NYSE:MAN opened at $59.36 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.15. The stock’s 50-day simple moving average is $60.02 and its 200 day simple moving average is $66.81. The company has a market cap of $2.79 billion, a P/E ratio of 75.13 and a beta of 1.46. ManpowerGroup has a 52-week low of $53.70 and a 52-week high of $78.87.

ManpowerGroup (NYSE:MAN) last released its 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 business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.48 billion. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. As a group, sell-side analysts forecast that ManpowerGroup will post 4.55 EPS for the current fiscal year.

ManpowerGroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $1.545 per share. This represents a $6.18 dividend on an annualized basis and a yield of 10.41%. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. ManpowerGroup’s payout ratio is 389.88%.

Insider Transactions at ManpowerGroup

In other news, CFO John T. Mcginnis acquired 8,000 shares of ManpowerGroup stock in a transaction dated Wednesday, October 23rd. The stock was bought at an average price of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the acquisition, the chief financial officer now directly owns 70,639 shares in the company, valued at approximately $4,399,396.92. The trade was a 12.77 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On ManpowerGroup

A number of institutional investors have recently made changes to their positions in the company. Commerce Bank boosted its holdings in shares of ManpowerGroup by 4.1% during the third quarter. Commerce Bank now owns 4,272 shares of the business services provider’s stock worth $314,000 after acquiring an additional 167 shares during the period. Abich Financial Wealth Management LLC boosted its holdings in shares of ManpowerGroup by 34.8% during the second quarter. Abich Financial Wealth Management LLC now owns 786 shares of the business services provider’s stock worth $55,000 after acquiring an additional 203 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of ManpowerGroup by 0.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 47,562 shares of the business services provider’s stock valued at $2,745,000 after buying an additional 234 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of ManpowerGroup by 4.5% in the third quarter. State of Alaska Department of Revenue now owns 5,510 shares of the business services provider’s stock valued at $405,000 after buying an additional 235 shares during the period. Finally, Impact Partnership Wealth LLC boosted its stake in shares of ManpowerGroup by 9.8% in the third quarter. Impact Partnership Wealth LLC now owns 3,693 shares of the business services provider’s stock valued at $271,000 after buying an additional 329 shares during the period. 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.