Crescent Grove Advisors LLC Purchases Shares of 152,220 ManpowerGroup (NYSE:MAN)
Crescent Grove Advisors LLC bought a new position in ManpowerGroup (NYSE:MAN) during the second quarter, Holdings Channel reports. The institutional investor bought 152,220 shares of the business services provider’s stock, valued at approximately $16,995,000. ManpowerGroup accounts for about 4.9% of Crescent Grove Advisors LLC’s portfolio, making the stock its 3rd largest position.
A number of other large investors also recently bought and sold shares of MAN. Russell Investments Group Ltd. increased its stake in ManpowerGroup by 39.8% in the first quarter. Russell Investments Group Ltd. now owns 520,809 shares of the business services provider’s stock worth $53,432,000 after buying an additional 148,161 shares during the period. Teachers Advisors LLC increased its stake in ManpowerGroup by 4.1% in the first quarter. Teachers Advisors LLC now owns 222,883 shares of the business services provider’s stock worth $22,861,000 after buying an additional 8,833 shares during the period. First Trust Advisors LP increased its stake in ManpowerGroup by 0.4% in the first quarter. First Trust Advisors LP now owns 309,270 shares of the business services provider’s stock worth $31,722,000 after buying an additional 1,245 shares during the period. Creative Planning increased its stake in ManpowerGroup by 6.0% in the first quarter. Creative Planning now owns 5,964 shares of the business services provider’s stock worth $612,000 after buying an additional 335 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in ManpowerGroup during the first quarter worth approximately $57,066,000. 93.74% of the stock is owned by institutional investors and hedge funds.
Shares of ManpowerGroup (MAN) opened at 107.26 on Friday. The stock has a market cap of $7.16 billion, a PE ratio of 16.41 and a beta of 1.39. ManpowerGroup has a 52 week low of $67.30 and a 52 week high of $119.59. The firm has a 50-day moving average of $110.91 and a 200 day moving average of $103.22.
ManpowerGroup (NYSE:MAN) last posted its quarterly earnings data on Monday, July 24th. The business services provider reported $1.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.06 billion. ManpowerGroup had a net margin of 2.24% and a return on equity of 17.90%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 earnings per share. On average, equities analysts forecast that ManpowerGroup will post $6.75 EPS for the current fiscal year.
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Several brokerages have recently weighed in on MAN. BidaskClub cut shares of ManpowerGroup from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Credit Suisse Group reiterated a “neutral” rating and set a $111.00 price target (up previously from $106.00) on shares of ManpowerGroup in a research note on Tuesday, July 25th. Northcoast Research reiterated a “neutral” rating on shares of ManpowerGroup in a research note on Monday, July 17th. Zacks Investment Research upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Tuesday, July 4th. Finally, BMO Capital Markets lifted their price target on shares of ManpowerGroup from $113.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. ManpowerGroup currently has a consensus rating of “Hold” and a consensus target price of $102.71.
In other ManpowerGroup news, SVP Richard Buchband sold 1,250 shares of the stock in a transaction on Monday, June 19th. The shares were 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 of the company’s stock, valued at $423,356. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Darryl Green sold 76,000 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $105.83, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,715 shares of company stock worth $12,904,283. Insiders own 0.87% of the company’s stock.
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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