KLP Kapitalforvaltning AS Takes $975,000 Position in ManpowerGroup Inc. (NYSE:MAN)

KLP Kapitalforvaltning AS bought a new position in ManpowerGroup Inc. (NYSE:MAN) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 16,900 shares of the business services provider’s stock, valued at approximately $975,000.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of ManpowerGroup by 0.5% during the third quarter. Geode Capital Management LLC now owns 794,704 shares of the business services provider’s stock valued at $58,444,000 after buying an additional 4,113 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in ManpowerGroup by 34.5% during the 4th quarter. Bank of New York Mellon Corp now owns 748,246 shares of the business services provider’s stock valued at $43,189,000 after acquiring an additional 191,901 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in ManpowerGroup in the 4th quarter worth approximately $34,200,000. Jacobs Levy Equity Management Inc. lifted its position in ManpowerGroup by 6.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 549,698 shares of the business services provider’s stock valued at $40,414,000 after purchasing an additional 32,083 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of ManpowerGroup by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 504,917 shares of the business services provider’s stock valued at $29,144,000 after purchasing an additional 23,741 shares during the period. 98.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group decreased their target price on shares of ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Barclays lowered their price objective on shares of ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, January 3rd. Truist Financial reissued a “hold” rating and issued a $70.00 target price (down from $74.00) on shares of ManpowerGroup in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lowered their price target on ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, ManpowerGroup presently has a consensus rating of “Hold” and a consensus price target of $69.33.

ManpowerGroup Price Performance

Shares of NYSE MAN opened at $58.75 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.15. ManpowerGroup Inc. has a 1 year low of $53.31 and a 1 year high of $78.87. The company’s 50-day moving average is $58.26 and its 200 day moving average is $61.99. The stock has a market capitalization of $2.75 billion, a P/E ratio of 19.65 and a beta of 1.43.

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.