Hsbc Holdings PLC Sells 23,685 Shares of ManpowerGroup Inc. (NYSE:MAN)

Posted by Defense World Staff on Mar 2nd, 2023

Hsbc Holdings PLC decreased its position in shares of ManpowerGroup Inc. (NYSE:MAN – Get Rating) by 56.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,274 shares of the business services provider’s stock after selling 23,685 shares during the quarter. Hsbc Holdings PLC’s holdings in ManpowerGroup were worth $1,195,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Ronald Blue Trust Inc. lifted its holdings in ManpowerGroup by 183.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 386 shares of the business services provider’s stock worth $30,000 after buying an additional 250 shares during the period. Ellevest Inc. acquired a new position in ManpowerGroup during the 3rd quarter worth about $25,000. Signaturefd LLC lifted its holdings in ManpowerGroup by 73.1% during the 3rd quarter. Signaturefd LLC now owns 502 shares of the business services provider’s stock worth $32,000 after buying an additional 212 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in ManpowerGroup by 28.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 773 shares of the business services provider’s stock worth $50,000 after buying an additional 169 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in ManpowerGroup by 72.6% during the 1st quarter. Captrust Financial Advisors now owns 858 shares of the business services provider’s stock worth $81,000 after buying an additional 361 shares during the period. Institutional investors and hedge funds own 97.27% of the company’s stock.

Wall Street Analysts Forecast Growth

MAN has been the topic of a number of recent analyst reports. Truist Financial boosted their price objective on ManpowerGroup from $80.00 to $92.00 and gave the company a “hold” rating in a research note on Wednesday, February 1st. The Goldman Sachs Group boosted their price objective on ManpowerGroup from $64.00 to $73.00 and gave the company a “sell” rating in a research note on Monday, December 5th. BNP Paribas initiated coverage on ManpowerGroup in a research report on Thursday, January 5th. They issued an “outperform” rating and a $95.00 target price for the company. Robert W. Baird boosted their target price on ManpowerGroup from $94.00 to $101.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Finally, TheStreet raised ManpowerGroup from a “c+” rating to a “b-” rating in a research report on Monday, November 21st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $82.22.

Insider Transactions at ManpowerGroup

In other news, SVP Donald O. Mondano sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $85.50, for a total value of $213,750.00. Following the transaction, the senior vice president now owns 5,440 shares in the company, valued at approximately $465,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Donald O. Mondano sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $85.50, for a total value of $213,750.00. Following the transaction, the senior vice president now owns 5,440 shares in the company, valued at $465,120. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 780 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $89.09, for a total value of $69,490.20. Following the completion of the transaction, the director now owns 9,720 shares in the company, valued at approximately $865,954.80. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

ManpowerGroup Price Performance

Shares of NYSE MAN opened at $85.35 on Thursday. ManpowerGroup Inc. has a twelve month low of $64.00 and a twelve month high of $102.62. The stock’s 50 day moving average price is $86.81 and its 200-day moving average price is $80.66. The company has a market capitalization of $4.32 billion, a PE ratio of 12.11, a PEG ratio of 1.94 and a beta of 1.68. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.39.

ManpowerGroup (NYSE:MAN – Get Rating) last announced its earnings results on Tuesday, January 31st. The business services provider reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.06). ManpowerGroup had a return on equity of 18.19% and a net margin of 1.89%. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the previous year, the firm earned $2.20 EPS. ManpowerGroup’s quarterly revenue was down 10.6% on a year-over-year basis. On average, equities analysts anticipate that ManpowerGroup Inc. will post 6.89 EPS for the current year.

ManpowerGroup Company Profile

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ManpowerGroup, Inc engages in the provision of workforce solutions and services. It operates through the following segments: Americas, Southern Europe, Northern Europe, Asia Pacific Middle East, and Right Management. The Americas segment offers services as Manpower, Experis, and ManpowerGroup Solutions through both branch and franchise offices.