Heartland Advisors Inc. Buys New Stake in ManpowerGroup Inc. (MAN)
Heartland Advisors Inc. bought a new position in ManpowerGroup Inc. (NYSE:MAN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,696 shares of the business services provider’s stock, valued at approximately $318,000.
A number of other large investors also recently made changes to their positions in MAN. Principal Financial Group Inc. grew its position in ManpowerGroup by 11.9% in the first quarter. Principal Financial Group Inc. now owns 319,899 shares of the business services provider’s stock worth $36,820,000 after acquiring an additional 34,004 shares in the last quarter. State of Alaska Department of Revenue grew its position in ManpowerGroup by 38.4% in the second quarter. State of Alaska Department of Revenue now owns 7,280 shares of the business services provider’s stock worth $626,000 after acquiring an additional 2,020 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in ManpowerGroup by 2.5% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 24,174 shares of the business services provider’s stock worth $2,080,000 after acquiring an additional 599 shares in the last quarter. Retirement Systems of Alabama grew its position in ManpowerGroup by 2.7% in the second quarter. Retirement Systems of Alabama now owns 152,920 shares of the business services provider’s stock worth $13,160,000 after acquiring an additional 4,012 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in ManpowerGroup by 27.3% in the second quarter. Nisa Investment Advisors LLC now owns 19,100 shares of the business services provider’s stock worth $1,644,000 after acquiring an additional 4,100 shares in the last quarter. Institutional investors own 91.86% of the company’s stock.
NYSE MAN opened at $78.07 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. ManpowerGroup Inc. has a 12-month low of $71.79 and a 12-month high of $136.93. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.07 and a beta of 1.21.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Monday, December 3rd will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 5.17%. This is a positive change from ManpowerGroup’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Friday, November 30th. ManpowerGroup’s dividend payout ratio is presently 28.69%.
ManpowerGroup announced that its board has authorized a share buyback program on Friday, August 3rd that permits the company to buyback 6,000,000 shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Several research analysts recently issued reports on MAN shares. BMO Capital Markets cut their target price on shares of ManpowerGroup from $107.00 to $96.00 and set an “outperform” rating for the company in a research report on Monday, July 23rd. SunTrust Banks reiterated a “hold” rating and issued a $100.00 target price on shares of ManpowerGroup in a research report on Monday, July 23rd. Northcoast Research reiterated a “neutral” rating on shares of ManpowerGroup in a research report on Monday, July 23rd. ValuEngine upgraded shares of ManpowerGroup from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 26th. Finally, Credit Suisse Group started coverage on shares of ManpowerGroup in a research report on Friday, August 10th. They issued an “outperform” rating and a $115.00 target price for the company. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $99.85.
In other ManpowerGroup news, EVP Mara E. Swan sold 11,192 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $93.77, for a total transaction of $1,049,473.84. Following the completion of the sale, the executive vice president now directly owns 13,493 shares in the company, valued at $1,265,238.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John R. Walter sold 7,403 shares of the stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $77.74, for a total transaction of $575,509.22. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.
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ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The company's recruitment service portfolio includes permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions.
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