ManpowerGroup (MAN) Stake Reduced by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. reduced its position in ManpowerGroup (NYSE:MAN) by 18.9% during the second quarter, Holdings Channel reports. The institutional investor owned 13,750 shares of the business services provider’s stock after selling 3,200 shares during the period. Daiwa Securities Group Inc.’s holdings in ManpowerGroup were worth $1,535,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of ManpowerGroup during the first quarter worth approximately $101,000. First Quadrant L P CA purchased a new position in shares of ManpowerGroup during the second quarter worth approximately $123,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of ManpowerGroup by 31.4% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,255 shares of the business services provider’s stock worth $129,000 after buying an additional 300 shares in the last quarter. Exane Derivatives raised its position in shares of ManpowerGroup by 166.7% in the second quarter. Exane Derivatives now owns 1,379 shares of the business services provider’s stock worth $154,000 after buying an additional 862 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in shares of ManpowerGroup during the first quarter worth approximately $201,000. Hedge funds and other institutional investors own 93.74% of the company’s stock.
Shares of ManpowerGroup (NYSE MAN) opened at 108.84 on Thursday. ManpowerGroup has a 12 month low of $67.30 and a 12 month high of $119.59. The company’s 50 day moving average is $110.92 and its 200-day moving average is $103.20. The company has a market cap of $7.34 billion, a P/E ratio of 16.65 and a beta of 1.39.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Monday, July 24th. The business services provider reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.06 billion. ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. ManpowerGroup’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 earnings per share. Analysts expect that ManpowerGroup will post $6.75 EPS for the current fiscal year.
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A number of equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a research note on Friday, April 21st. Northcoast Research restated a “neutral” rating on shares of ManpowerGroup in a research note on Monday, July 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $111.00 target price (up previously from $104.00) on shares of ManpowerGroup in a research note on Friday, July 14th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $111.00 target price (up previously from $106.00) on shares of ManpowerGroup in a research note on Tuesday, July 25th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $102.71.
In other news, SVP Richard Buchband sold 1,250 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $109.00, for a total transaction of $136,250.00. Following the completion of the transaction, the senior vice president now directly owns 3,884 shares of the company’s stock, valued at approximately $423,356. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 2,100 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $107.94, for a total transaction of $226,674.00. Following the transaction, the director now directly owns 11,136 shares of the company’s stock, valued at $1,202,019.84. The disclosure for this sale can be found here. Insiders have sold a total of 121,715 shares of company stock valued at $12,904,283 over the last ninety days. 0.87% of the stock is owned by 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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