MetLife Investment Management LLC Sells 604 Shares of ManpowerGroup Inc. (NYSE:MAN)

MetLife Investment Management LLC decreased its position in ManpowerGroup Inc. (NYSE:MAN) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 24,517 shares of the business services provider’s stock after selling 604 shares during the quarter. MetLife Investment Management LLC’s holdings in ManpowerGroup were worth $1,802,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in ManpowerGroup by 248.3% during the 3rd quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 375 shares during the period. Headlands Technologies LLC bought a new stake in shares of ManpowerGroup during the second quarter worth approximately $47,000. Innealta Capital LLC acquired a new position in ManpowerGroup in the second quarter valued at approximately $50,000. Capital Performance Advisors LLP bought a new position in ManpowerGroup in the third quarter valued at approximately $54,000. Finally, Abich Financial Wealth Management LLC grew its holdings in ManpowerGroup by 34.8% during the 2nd 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. Institutional investors own 98.03% of the company’s stock.

Insider Buying and Selling

In other news, CFO John T. Mcginnis purchased 8,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were purchased at an average price of $62.28 per share, with a total value of $498,240.00. Following the purchase, the chief financial officer now directly owns 70,639 shares of the company’s stock, valued at $4,399,396.92. This trade represents a 12.77 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. BMO Capital Markets reduced their price target 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. Truist Financial cut their target price on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a research note on Friday, October 18th. Finally, UBS Group decreased their target price on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, ManpowerGroup currently has an average rating of “Hold” and a consensus price target of $76.60.

ManpowerGroup Stock Performance

Shares of ManpowerGroup stock opened at $62.22 on Friday. The stock’s fifty day simple moving average is $65.74 and its 200 day simple moving average is $69.85. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $2.92 billion, a PE ratio of 78.76 and a beta of 1.45. ManpowerGroup Inc. has a 12 month low of $59.35 and a 12 month high of $80.25.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.48 billion. On average, research analysts predict that ManpowerGroup Inc. will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.545 per share. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.18 annualized dividend and a dividend yield of 9.93%. ManpowerGroup’s dividend payout ratio is currently 389.88%.

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.