First Trust Advisors LP Grows Position in ManpowerGroup Inc. (NYSE:MAN)

Posted by Defense World Staff on Mar 10th, 2023

First Trust Advisors LP raised its holdings in shares of ManpowerGroup Inc. (NYSE:MAN – Get Rating) by 15.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 258,432 shares of the business services provider’s stock after purchasing an additional 34,020 shares during the period. First Trust Advisors LP owned 0.51% of ManpowerGroup worth $16,718,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MAN. Ellevest Inc. purchased a new stake in ManpowerGroup in the third quarter worth about $25,000. Ronald Blue Trust Inc. lifted its position in ManpowerGroup by 183.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 386 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 250 shares during the period. Signaturefd LLC boosted its stake in ManpowerGroup by 73.1% during the third quarter. Signaturefd LLC now owns 502 shares of the business services provider’s stock worth $32,000 after acquiring an additional 212 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of ManpowerGroup by 28.0% during 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 in the last quarter. Finally, Janiczek Wealth Management LLC lifted its holdings in shares of ManpowerGroup by 225.0% during 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. 97.27% of the stock is owned by hedge funds and other institutional investors.

ManpowerGroup Stock Down 1.7 %

MAN stock opened at $82.52 on Friday. 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 twelve month low of $64.00 and a twelve month high of $101.53. The stock has a market cap of $4.18 billion, a P/E ratio of 11.70, a PEG ratio of 1.93 and a beta of 1.67. The business’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 issued its quarterly earnings results on Tuesday, January 31st. The business services provider reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.06). The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.75 billion. ManpowerGroup had a return on equity of 18.19% and a net margin of 1.89%. The company’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. On average, equities research analysts forecast that ManpowerGroup Inc. will post 6.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on MAN. TheStreet raised ManpowerGroup from a “c+” rating to a “b-” rating in a report on Monday, November 21st. Robert W. Baird lifted their target price on shares of 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 upped their target price on shares of ManpowerGroup from $64.00 to $73.00 and gave the stock a “sell” rating in a research note on Monday, December 5th. BNP Paribas initiated coverage on ManpowerGroup in a report on Thursday, January 5th. They issued an “outperform” rating and a $95.00 target price for the company. Finally, Truist Financial upped their price target on ManpowerGroup from $80.00 to $92.00 and gave the company a “hold” rating in a report on Wednesday, February 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $82.22.

Insider Buying and Selling

In other ManpowerGroup news, SVP Donald O. Mondano sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $85.50, for a total transaction of $213,750.00. Following the completion of the sale, 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 legal filing with the SEC, which is available at this link. 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 transaction of $213,750.00. Following the completion of the transaction, the senior vice president now owns 5,440 shares in the company, valued at $465,120. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 780 shares of the firm’s stock in a transaction on Monday, February 13th. The shares were 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 of the company’s stock, valued at $865,954.80. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

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