Geode Capital Management LLC Acquires 4,113 Shares of ManpowerGroup Inc. (NYSE:MAN)

Geode Capital Management LLC lifted its holdings in ManpowerGroup Inc. (NYSE:MAN) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 794,704 shares of the business services provider’s stock after buying an additional 4,113 shares during the period. Geode Capital Management LLC’s holdings in ManpowerGroup were worth $58,444,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. grew its position 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 acquiring an additional 375 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of ManpowerGroup in the 2nd quarter valued at approximately $47,000. Innealta Capital LLC purchased a new position in shares of ManpowerGroup in the 2nd quarter worth approximately $50,000. Capital Performance Advisors LLP bought a new position in shares of ManpowerGroup during the 3rd quarter valued at approximately $54,000. Finally, Abich Financial Wealth Management LLC raised 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 valued at $55,000 after buying an additional 203 shares during the period. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MAN has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a research note on Friday, October 18th. UBS Group dropped 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. Finally, Truist Financial reduced their price target on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, ManpowerGroup presently has a consensus rating of “Hold” and a consensus target price of $76.60.

Insiders Place Their Bets

In related news, CFO John T. Mcginnis bought 8,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was bought at an average cost of $62.28 per share, for a total transaction of $498,240.00. Following the purchase, the chief financial officer now directly owns 70,639 shares of the company’s stock, valued at approximately $4,399,396.92. This trade represents a 12.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

ManpowerGroup Stock Performance

Shares of ManpowerGroup stock opened at $56.94 on Friday. ManpowerGroup Inc. has a one year low of $55.87 and a one year high of $80.25. The company has a market capitalization of $2.67 billion, a PE ratio of 72.08 and a beta of 1.45. 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 company has a 50-day simple moving average of $63.16 and a two-hundred day simple moving average of $68.75.

ManpowerGroup (NYSE:MAN) last announced its earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.48 billion. Research analysts expect that ManpowerGroup Inc. 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 paid a $1.545 dividend. The ex-dividend date was Monday, December 2nd. This is a boost from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 dividend on an annualized basis and a yield of 10.85%. ManpowerGroup’s dividend payout ratio (DPR) is 389.87%.

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.