ManpowerGroup (NYSE:MAN) Shares Sold by Kovitz Investment Group Partners LLC
Kovitz Investment Group Partners LLC reduced its position in shares of ManpowerGroup (NYSE:MAN) by 31.9% during the second quarter, Holdings Channel reports. The fund owned 5,015 shares of the business services provider’s stock after selling 2,350 shares during the period. Kovitz Investment Group Partners LLC’s holdings in ManpowerGroup were worth $560,000 as of its most recent SEC filing.
Other hedge funds and 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 $101,000. IFP Advisors Inc boosted its position in shares of ManpowerGroup by 14.1% in the second quarter. IFP Advisors Inc now owns 941 shares of the business services provider’s stock worth $105,000 after buying an additional 116 shares during the last quarter. First Quadrant L P CA purchased a new position in shares of ManpowerGroup during the second quarter worth $123,000. Livforsakringsbolaget Skandia Omsesidigt boosted 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 during the last quarter. Finally, Exane Derivatives boosted 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 during the last quarter. Hedge funds and other institutional investors own 93.74% of the company’s stock.
ManpowerGroup (NYSE MAN) opened at 108.84 on Thursday. The firm’s 50 day moving average price is $110.92 and its 200-day moving average price is $103.20. The firm has a market cap of $7.34 billion, a PE ratio of 16.65 and a beta of 1.39. ManpowerGroup has a 52 week low of $67.30 and a 52 week high of $119.59.
ManpowerGroup (NYSE:MAN) last posted its earnings results on Monday, July 24th. The business services provider reported $1.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.06 billion. ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.60 earnings per share. On average, analysts forecast that ManpowerGroup will post $6.75 EPS for the current year.
A number of research analysts have commented on MAN shares. BidaskClub cut ManpowerGroup from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Tuesday, July 4th. Credit Suisse Group restated a “neutral” rating and set a $111.00 price objective (up previously from $106.00) on shares of ManpowerGroup in a research note on Tuesday, July 25th. Northcoast Research restated a “neutral” rating on shares of ManpowerGroup in a research note on Monday, July 17th. Finally, BMO Capital Markets boosted their price objective on ManpowerGroup from $113.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. ManpowerGroup presently has a consensus rating of “Hold” and a consensus target price of $102.71.
In other ManpowerGroup news, EVP Sriram Chandrashekar sold 19,912 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 1,659 shares of the company’s stock, valued at $174,842.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard Buchband sold 1,250 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $109.00, for a total transaction of $136,250.00. Following the transaction, the senior vice president now directly owns 3,884 shares in the company, valued at $423,356. The disclosure for this sale can be found here. Insiders have sold 121,715 shares of company stock worth $12,904,283 over the last three months. Company insiders own 0.87% of the company’s stock.
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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