ManpowerGroup (NYSE:MAN) Stake Decreased by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC lowered its stake in ManpowerGroup (NYSE:MAN) by 41.0% during the second quarter, Holdings Channel reports. The fund owned 328,065 shares of the business services provider’s stock after selling 228,293 shares during the period. Wedge Capital Management L L P NC’s holdings in ManpowerGroup were worth $36,628,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of MAN. Crescent Grove Advisors LLC acquired a new position in shares of ManpowerGroup during the second quarter valued at approximately $16,995,000. Arizona State Retirement System raised its position in shares of ManpowerGroup by 0.7% in the second quarter. Arizona State Retirement System now owns 28,300 shares of the business services provider’s stock valued at $3,160,000 after buying an additional 200 shares during the last quarter. Boston Partners raised its position in shares of ManpowerGroup by 3.3% in the second quarter. Boston Partners now owns 3,697,608 shares of the business services provider’s stock valued at $412,838,000 after buying an additional 119,340 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of ManpowerGroup by 16.3% in the second quarter. Canada Pension Plan Investment Board now owns 251,000 shares of the business services provider’s stock valued at $28,024,000 after buying an additional 35,100 shares during the last quarter. Finally, Cigna Investments Inc. New raised its position in shares of ManpowerGroup by 27.9% in the second quarter. Cigna Investments Inc. New now owns 3,730 shares of the business services provider’s stock valued at $416,000 after buying an additional 814 shares during the last quarter. 93.74% of the stock is owned by institutional investors.
Shares of ManpowerGroup (MAN) opened at 106.85 on Friday. ManpowerGroup has a 52-week low of $67.30 and a 52-week high of $119.59. The company has a market cap of $7.13 billion, a P/E ratio of 16.35 and a beta of 1.39. The company has a 50-day moving average price of $110.90 and a 200-day moving average price of $103.33.
ManpowerGroup (NYSE:MAN) last released its earnings results on Monday, July 24th. The business services provider reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.06 billion. ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.60 EPS. On average, equities analysts predict that ManpowerGroup will post $6.75 EPS for the current year.
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Several research analysts have recently commented on the company. BidaskClub raised ManpowerGroup from a “hold” rating to a “buy” rating in a report on Friday. Credit Suisse Group reissued a “neutral” rating and set a $111.00 price objective (up previously from $106.00) on shares of ManpowerGroup in a report on Tuesday, July 25th. Northcoast Research reissued a “neutral” rating on shares of ManpowerGroup in a report on Monday, July 17th. BMO Capital Markets boosted their price objective on ManpowerGroup from $113.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $111.00 price objective (up previously from $104.00) on shares of ManpowerGroup in a report on Friday, July 14th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. ManpowerGroup has an average rating of “Buy” and an average price target of $102.71.
In other ManpowerGroup news, COO Darryl Green sold 76,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $105.83, for a total transaction of $8,043,080.00. Following the completion of the transaction, the chief operating officer now owns 36,454 shares in the company, valued at approximately $3,857,926.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ulice Payne, Jr. sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $107.94, for a total value of $226,674.00. Following the transaction, the director now owns 11,136 shares of the company’s stock, valued at approximately $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 in the last 90 days. 0.87% of the stock is currently owned by company 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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