Portland Global Advisors LLC Decreases Position in ManpowerGroup Inc. (MAN)
Portland Global Advisors LLC reduced its position in shares of ManpowerGroup Inc. (NYSE:MAN) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,788 shares of the company’s stock after selling 800 shares during the period. Portland Global Advisors LLC’s holdings in ManpowerGroup were worth $1,016,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Bayesian Capital Management LP purchased a new position in ManpowerGroup during the first quarter worth $212,000. Acadian Asset Management LLC increased its stake in ManpowerGroup by 19,388.0% in the second quarter. Acadian Asset Management LLC now owns 4,872 shares of the company’s stock worth $313,000 after buying an additional 4,847 shares during the period. Fox Run Management L.L.C. acquired a new stake in ManpowerGroup during the first quarter worth approximately $318,000. Daiwa Securities Group Inc. increased its stake in ManpowerGroup by 194.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,300 shares of the company’s stock worth $341,000 after buying an additional 3,500 shares during the period. Finally, Alpha Windward LLC increased its stake in ManpowerGroup by 3.2% in the second quarter. Alpha Windward LLC now owns 5,638 shares of the company’s stock worth $363,000 after buying an additional 176 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.
Shares of ManpowerGroup Inc. (NYSE:MAN) traded up 1.36% on Thursday, reaching $70.15. 445,749 shares of the company traded hands. ManpowerGroup Inc. has a 52-week low of $57.26 and a 52-week high of $93.34. The firm has a 50-day moving average of $69.96 and a 200-day moving average of $74.10. The company has a market capitalization of $4.81 billion, a PE ratio of 11.99 and a beta of 1.87.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.08. ManpowerGroup had a return on equity of 17.19% and a net margin of 2.23%. The company earned $5 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the prior year, the business posted $1.33 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that ManpowerGroup Inc. will post $5.90 earnings per share for the current fiscal year.
MAN has been the subject of a number of recent analyst reports. Bank of America Corp. reissued a “buy” rating on shares of ManpowerGroup in a report on Friday, June 10th. BMO Capital Markets reissued a “buy” rating on shares of ManpowerGroup in a report on Monday, June 27th. Argus reissued a “buy” rating and issued a $78.00 target price on shares of ManpowerGroup in a report on Monday, July 25th. Nomura reissued a “buy” rating and issued a $97.00 target price (down previously from $102.00) on shares of ManpowerGroup in a report on Friday, July 22nd. Finally, Zacks Investment Research raised ManpowerGroup from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $83.83.
In other news, EVP Handel Michael J. Van sold 57,348 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $70.13, for a total value of $4,021,815.24. Following the completion of the transaction, the executive vice president now owns 40,931 shares of the company’s stock, valued at $2,870,491.03. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Handel Michael J. Van sold 31,855 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $69.77, for a total value of $2,222,523.35. Following the completion of the transaction, the executive vice president now directly owns 31,378 shares of the company’s stock, valued at approximately $2,189,243.06. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.
ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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