Bank of New York Mellon Corp Reduces Stake in ManpowerGroup Inc. (NYSE:MAN)

Posted by Defense World Staff on Mar 12th, 2023

Bank of New York Mellon Corp lowered its holdings in ManpowerGroup Inc. (NYSE:MAN – Get Rating) by 1.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 662,410 shares of the business services provider’s stock after selling 10,119 shares during the quarter. Bank of New York Mellon Corp owned about 1.31% of ManpowerGroup worth $42,851,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. grew its stake 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 last quarter. Ellevest Inc. purchased a new position in ManpowerGroup during the 3rd quarter worth approximately $25,000. Signaturefd LLC grew its stake 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 last quarter. EverSource Wealth Advisors LLC grew its stake 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 last quarter. Finally, Captrust Financial Advisors grew its stake 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 last quarter. Hedge funds and other institutional investors own 97.27% of the company’s stock.

ManpowerGroup Stock Down 2.0 %

MAN opened at $80.89 on Friday. The business has a 50 day simple moving average of $86.90 and a 200-day simple moving average of $80.83. The stock has a market capitalization of $4.09 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.89 and a beta of 1.67. 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.

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

Analyst Upgrades and Downgrades

MAN has been the topic of a number of research reports. Northcoast Research downgraded ManpowerGroup from a “buy” rating to a “neutral” rating in a research note on Thursday, January 26th. Truist Financial lifted their target price 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 lifted their target price on ManpowerGroup from $64.00 to $73.00 and gave the company a “sell” rating in a research note on Monday, December 5th. Robert W. Baird lifted their target price on ManpowerGroup from $94.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday, February 1st. Finally, TheStreet upgraded ManpowerGroup from a “c+” rating to a “b-” rating in a research note on Monday, November 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, ManpowerGroup currently has an average rating of “Hold” and a consensus target price of $82.22.

Insider Buying and Selling

In related 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 completion of the transaction, the director now directly owns 9,720 shares of the company’s stock, valued at $865,954.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other ManpowerGroup news, 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 transaction of $213,750.00. Following the completion of the transaction, the senior vice president now owns 5,440 shares of the company’s stock, valued at $465,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ulice Payne, Jr. sold 780 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $89.09, for a total value of $69,490.20. Following the transaction, the director now directly owns 9,720 shares of the company’s stock, valued at approximately $865,954.80. The disclosure for this sale can be found here. 1.90% of the stock is currently 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.