ManpowerGroup Inc. (NYSE:MAN) Position Increased by Synovus Financial Corp

Synovus Financial Corp raised its position in ManpowerGroup Inc. (NYSE:MAN) by 7.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,922 shares of the business services provider’s stock after purchasing an additional 570 shares during the quarter. Synovus Financial Corp’s holdings in ManpowerGroup were worth $582,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of ManpowerGroup by 4.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,125,887 shares of the business services provider’s stock valued at $287,987,000 after buying an additional 183,527 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in ManpowerGroup by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,299,985 shares of the business services provider’s stock valued at $160,539,000 after acquiring an additional 103,059 shares during the last quarter. AQR Capital Management LLC grew its position in ManpowerGroup by 55.3% in the second quarter. AQR Capital Management LLC now owns 1,608,368 shares of the business services provider’s stock worth $112,264,000 after acquiring an additional 573,027 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of ManpowerGroup by 12,496.6% during the 3rd quarter. Pacer Advisors Inc. now owns 901,536 shares of the business services provider’s stock worth $66,281,000 after purchasing an additional 894,379 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of ManpowerGroup by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 794,704 shares of the business services provider’s stock worth $58,444,000 after purchasing an additional 4,113 shares during the last quarter. 98.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ManpowerGroup

In other news, CFO John T. Mcginnis purchased 8,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were purchased at an average cost of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the purchase, the chief financial officer now directly owns 70,639 shares of the company’s stock, valued at approximately $4,399,396.92. The trade was a 12.77 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. 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 report on Friday, October 18th. UBS Group decreased their price target on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, October 18th. Finally, BMO Capital Markets cut their price objective on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $76.60.

ManpowerGroup Stock Down 0.6 %

MAN stock opened at $59.00 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.15. The company has a 50-day moving average of $64.23 and a two-hundred day moving average of $69.14. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 74.68 and a beta of 1.45. ManpowerGroup Inc. has a 52-week low of $58.74 and a 52-week high of $80.25.

ManpowerGroup (NYSE:MAN) last announced its earnings results 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 firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.48 billion. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. As a group, equities research analysts anticipate that ManpowerGroup Inc. will post 4.55 EPS for the current year.

ManpowerGroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $1.545 per share. The ex-dividend date was Monday, December 2nd. This represents a $6.18 dividend on an annualized basis and a yield of 10.47%. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. ManpowerGroup’s payout ratio is 389.87%.

ManpowerGroup Profile

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.