Ensign Peak Advisors Inc Trims Stock Holdings in ManpowerGroup Inc. (NYSE:MAN)

Posted by Defense World Staff on Mar 10th, 2023

Ensign Peak Advisors Inc lowered its holdings in ManpowerGroup Inc. (NYSE:MAN – Get Rating) by 42.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,398 shares of the business services provider’s stock after selling 22,740 shares during the period. Ensign Peak Advisors Inc owned about 0.06% of ManpowerGroup worth $1,967,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ellevest Inc. purchased a new position in ManpowerGroup in the third quarter valued at about $25,000. Ronald Blue Trust Inc. boosted its holdings in ManpowerGroup by 183.8% in the third quarter. Ronald Blue Trust Inc. now owns 386 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 250 shares during the last quarter. Signaturefd LLC boosted its holdings in ManpowerGroup by 73.1% in the third quarter. Signaturefd LLC now owns 502 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 212 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in ManpowerGroup by 28.0% in the third quarter. EverSource Wealth Advisors LLC now owns 773 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 169 shares during the last quarter. Finally, Janiczek Wealth Management LLC boosted its holdings in ManpowerGroup by 225.0% in the third quarter. Janiczek Wealth Management LLC now owns 923 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 639 shares during the last quarter. Hedge funds and other institutional investors own 97.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MAN. Robert W. Baird increased their target price on ManpowerGroup from $94.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, February 1st. The Goldman Sachs Group increased their target price on ManpowerGroup from $64.00 to $73.00 and gave the stock a “sell” rating in a report on Monday, December 5th. TheStreet raised ManpowerGroup from a “c+” rating to a “b-” rating in a report on Monday, November 21st. Truist Financial increased their target price on ManpowerGroup from $80.00 to $92.00 and gave the stock a “hold” rating in a report on Wednesday, February 1st. Finally, Northcoast Research downgraded ManpowerGroup from a “buy” rating to a “neutral” rating in a report on Thursday, January 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $82.22.

ManpowerGroup Stock Down 1.7 %

MAN opened at $82.52 on Friday. ManpowerGroup Inc. has a 12 month low of $64.00 and a 12 month high of $101.53. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market cap of $4.18 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.93 and a beta of 1.67. The stock’s 50 day moving average price is $86.94 and its 200 day moving average price is $80.80.

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

Insider Activity at ManpowerGroup

In related news, SVP Donald O. Mondano sold 2,500 shares of the firm’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 sale, the senior vice president now directly owns 5,440 shares in the company, valued at approximately $465,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Ulice Payne, Jr. sold 780 shares of ManpowerGroup stock in a transaction on Monday, February 13th. The stock was sold at an average price of $89.09, for a total transaction of $69,490.20. Following the transaction, the director now directly owns 9,720 shares in the company, valued at approximately $865,954.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Donald O. Mondano sold 2,500 shares of the firm’s stock in a transaction 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 sale, 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. 1.90% of the stock is owned by insiders.

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.