ManpowerGroup (NYSE:MAN) Reaches New 12-Month Low – Here’s What Happened

ManpowerGroup Inc. (NYSE:MAN) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $59.32 and last traded at $59.36, with a volume of 572883 shares. The stock had previously closed at $61.18.

Analyst Upgrades and Downgrades

Several analysts recently commented on MAN shares. BMO Capital Markets reduced their target price on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a report on Friday, October 18th. UBS Group dropped their price target on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, October 18th. Finally, Truist Financial decreased their price objective on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research report on Friday, October 18th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, ManpowerGroup has a consensus rating of “Hold” and an average target price of $76.60.

ManpowerGroup Stock Performance

The firm has a market capitalization of $2.68 billion, a P/E ratio of 72.41 and a beta of 1.45. The stock has a fifty day simple moving average of $63.72 and a two-hundred day simple moving average of $68.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.15.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Thursday, October 17th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.48 billion. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. On average, research analysts predict that ManpowerGroup Inc. will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $1.545 dividend. The ex-dividend date was Monday, December 2nd. This is an increase from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 annualized dividend and a dividend yield of 10.80%. ManpowerGroup’s dividend payout ratio (DPR) is currently 389.87%.

Insider Activity at ManpowerGroup

In other ManpowerGroup news, CFO John T. Mcginnis purchased 8,000 shares of ManpowerGroup stock in a transaction that occurred on Wednesday, October 23rd. The stock was acquired at an average price of $62.28 per share, with a total value of $498,240.00. Following the transaction, the chief financial officer now owns 70,639 shares in the company, valued at $4,399,396.92. This trade represents a 12.77 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Institutional Trading of ManpowerGroup

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in ManpowerGroup by 248.3% during the 3rd quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock worth $37,000 after acquiring an additional 375 shares during the last quarter. Headlands Technologies LLC purchased a new position in ManpowerGroup during the second quarter worth about $47,000. Innealta Capital LLC bought a new stake in ManpowerGroup in the 2nd quarter worth about $50,000. Capital Performance Advisors LLP bought a new stake in ManpowerGroup in the 3rd quarter worth about $54,000. Finally, Abich Financial Wealth Management LLC increased its stake in ManpowerGroup by 34.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 786 shares of the business services provider’s stock valued at $55,000 after buying an additional 203 shares during the last quarter. 98.03% of the stock is owned by institutional investors.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services worldwide. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.