ManpowerGroup Inc. (MAN) Position Decreased by BlackRock Advisors LLC
BlackRock Advisors LLC cut its stake in shares of ManpowerGroup Inc. (NYSE:MAN) by 45.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,337 shares of the company’s stock after selling 132,729 shares during the period. BlackRock Advisors LLC owned approximately 0.23% of ManpowerGroup worth $10,252,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in MAN. Tower Research Capital LLC TRC acquired a new position in shares of ManpowerGroup during the second quarter valued at approximately $192,000. Convergence Investment Partners LLC increased its stake in ManpowerGroup by 3.3% in the second quarter. Convergence Investment Partners LLC now owns 20,374 shares of the company’s stock valued at $1,311,000 after buying an additional 642 shares in the last quarter. PineBridge Investments L.P. purchased a new stake in ManpowerGroup during the second quarter valued at about $156,000. Vanguard Group Inc. increased its stake in ManpowerGroup by 2.7% in the second quarter. Vanguard Group Inc. now owns 5,425,307 shares of the company’s stock valued at $349,065,000 after buying an additional 140,616 shares in the last quarter. Finally, TLP Group LLC purchased a new stake in ManpowerGroup during the second quarter valued at about $578,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.
ManpowerGroup Inc. (NYSE:MAN) opened at 73.08 on Friday. The stock has a 50 day moving average price of $70.81 and a 200-day moving average price of $73.58. The stock has a market cap of $5.01 billion, a P/E ratio of 12.49 and a beta of 1.83. ManpowerGroup Inc. has a 12-month low of $57.26 and a 12-month high of $93.34.
ManpowerGroup (NYSE:MAN) last issued its earnings results on Thursday, July 21st. The company reported $1.60 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter last year, the firm earned $1.33 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts expect that ManpowerGroup Inc. will post $5.90 earnings per share for the current year.
Several research firms recently issued reports on MAN. BMO Capital Markets reiterated an “outperform” rating and issued a $81.00 price objective on shares of ManpowerGroup in a report on Tuesday, September 27th. Zacks Investment Research upgraded ManpowerGroup from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Tuesday, September 20th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $85.00 price objective on shares of ManpowerGroup in a report on Friday, August 26th. Macquarie began coverage on ManpowerGroup in a report on Thursday, August 25th. They issued an “outperform” rating and a $86.00 price objective on the stock. Finally, Deutsche Bank AG began coverage on ManpowerGroup in a report on Wednesday, August 17th. They issued a “hold” rating and a $77.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $82.83.
In related news, EVP Handel Michael J. Van sold 57,348 shares of ManpowerGroup 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 transaction, the executive vice president now owns 40,931 shares in the company, valued at $2,870,491.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Handel Michael J. Van sold 31,855 shares of ManpowerGroup stock in a transaction on Friday, July 29th. The shares were 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 owns 31,378 shares in the company, valued at approximately $2,189,243.06. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
ManpowerGroup Company Profile
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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