ManpowerGroup Inc. (NYSE:MAN) Shares Purchased by Macquarie Group Ltd.

Posted by Defense World Staff on Mar 7th, 2023

Macquarie Group Ltd. boosted its holdings in ManpowerGroup Inc. (NYSE:MAN – Get Rating) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,743 shares of the business services provider’s stock after acquiring an additional 4,898 shares during the quarter. Macquarie Group Ltd. owned 0.26% of ManpowerGroup worth $8,722,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MAN. Raymond James Financial Services Advisors Inc. acquired a new position in shares of ManpowerGroup during the 1st quarter valued at $907,000. Cetera Advisor Networks LLC acquired a new position in shares of ManpowerGroup during the 1st quarter valued at $267,000. Bank of Montreal Can increased its position in shares of ManpowerGroup by 104.8% during the 1st quarter. Bank of Montreal Can now owns 21,293 shares of the business services provider’s stock valued at $2,143,000 after purchasing an additional 10,894 shares during the period. MetLife Investment Management LLC boosted its stake in shares of ManpowerGroup by 33.5% during the 1st quarter. MetLife Investment Management LLC now owns 35,079 shares of the business services provider’s stock worth $3,295,000 after acquiring an additional 8,794 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of ManpowerGroup by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,878 shares of the business services provider’s stock worth $1,867,000 after buying an additional 1,895 shares during the period. 97.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

ManpowerGroup Price Performance

MAN opened at $84.60 on Tuesday. 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 Inc. has a 12 month low of $64.00 and a 12 month high of $101.53. The company has a fifty day simple moving average of $86.91 and a 200 day simple moving average of $80.73. The stock has a market cap of $4.28 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.96 and a beta of 1.67.

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

Analyst Ratings Changes

Several research firms have weighed in on MAN. The Goldman Sachs Group raised their target price on ManpowerGroup from $64.00 to $73.00 and gave the company a “sell” rating in a report on Monday, December 5th. Robert W. Baird lifted their price objective on ManpowerGroup from $94.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, February 1st. Northcoast Research downgraded ManpowerGroup from a “buy” rating to a “neutral” rating in a report on Thursday, January 26th. BNP Paribas began coverage on shares of ManpowerGroup in a research report on Thursday, January 5th. They issued an “outperform” rating and a $95.00 price objective for the company. Finally, Truist Financial boosted their price objective on shares of ManpowerGroup from $80.00 to $92.00 and gave the stock a “hold” rating in a research report on Wednesday, February 1st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $82.22.

ManpowerGroup 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 Corporate. The Americas segment offers services as Manpower, Experis, and ManpowerGroup solutions through both branch and franchise offices.