Welch & Forbes LLC reduced its stake in shares of ManpowerGroup (NYSE:MAN) by 0.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,070 shares of the business services provider’s stock after selling 4 shares during the period. Welch & Forbes LLC’s holdings in ManpowerGroup were worth $343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. World Asset Management Inc boosted its position in ManpowerGroup by 0.7% in the first quarter. World Asset Management Inc now owns 5,309 shares of the business services provider’s stock valued at $545,000 after buying an additional 37 shares in the last quarter. FormulaFolio Investments LLC boosted its position in ManpowerGroup by 0.7% in the first quarter. FormulaFolio Investments LLC now owns 5,016 shares of the business services provider’s stock valued at $515,000 after buying an additional 37 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in ManpowerGroup by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 17,669 shares of the business services provider’s stock valued at $1,973,000 after buying an additional 46 shares in the last quarter. Robecosam AG boosted its position in ManpowerGroup by 0.7% in the first quarter. Robecosam AG now owns 7,048 shares of the business services provider’s stock valued at $726,000 after buying an additional 49 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its position in ManpowerGroup by 0.9% in the first quarter. Kovitz Investment Group Partners LLC now owns 7,365 shares of the business services provider’s stock valued at $755,000 after buying an additional 65 shares in the last quarter. 93.74% of the stock is currently owned by institutional investors.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings data on Monday, July 24th. The business services provider reported $1.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by $0.01. ManpowerGroup had a net margin of 2.24% and a return on equity of 17.90%. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the prior year, the company earned $1.60 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis.

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Several research firms have issued reports on MAN. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $111.00 price target (up previously from $104.00) on shares of ManpowerGroup in a report on Friday, July 14th. BMO Capital Markets upped their price target on ManpowerGroup from $113.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, July 14th. Zacks Investment Research raised ManpowerGroup from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a report on Friday, April 21st. BidaskClub cut ManpowerGroup from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $111.00 price target (up previously from $106.00) on shares of ManpowerGroup in a report on Tuesday, July 25th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $102.71.

In related news, COO Darryl Green sold 76,000 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $105.83, for a total value of $8,043,080.00. Following the transaction, the chief operating officer now directly owns 36,454 shares in the company, valued at $3,857,926.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sriram Chandrashekar sold 19,912 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $105.39, for a total transaction of $2,098,525.68. Following the completion of the transaction, the executive vice president now owns 1,659 shares in the company, valued at $174,842.01. The disclosure for this sale can be found here. Insiders sold 119,615 shares of company stock worth $12,677,609 over the last 90 days. 0.87% of the stock is currently owned by company insiders.

About ManpowerGroup

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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Institutional Ownership by Quarter for ManpowerGroup (NYSE:MAN)

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