Canada Pension Plan Investment Board boosted its stake in ManpowerGroup (NYSE:MAN) by 16.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 251,000 shares of the business services provider’s stock after buying an additional 35,100 shares during the period. Canada Pension Plan Investment Board owned 0.37% of ManpowerGroup worth $28,024,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in MAN. BlackRock Inc. raised its stake in shares of ManpowerGroup by 1,236.2% in the first quarter. BlackRock Inc. now owns 8,185,672 shares of the business services provider’s stock valued at $839,606,000 after buying an additional 7,573,043 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of ManpowerGroup by 334.8% in the first quarter. Acadian Asset Management LLC now owns 920,404 shares of the business services provider’s stock valued at $94,408,000 after buying an additional 708,698 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of ManpowerGroup by 82.8% in the first quarter. JPMorgan Chase & Co. now owns 1,465,441 shares of the business services provider’s stock valued at $150,311,000 after buying an additional 663,971 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of ManpowerGroup during the first quarter valued at $57,066,000. Finally, LSV Asset Management raised its stake in shares of ManpowerGroup by 37.3% in the first quarter. LSV Asset Management now owns 1,458,668 shares of the business services provider’s stock valued at $149,615,000 after buying an additional 396,096 shares during the last quarter. 93.74% of the stock is currently owned by institutional investors.
ManpowerGroup (MAN) opened at 106.85 on Friday. ManpowerGroup has a 12 month low of $67.30 and a 12 month high of $119.59. The company has a market cap of $7.13 billion, a P/E ratio of 16.35 and a beta of 1.39. The firm has a 50-day moving average price of $110.90 and a 200 day moving average price of $103.33.
ManpowerGroup (NYSE:MAN) last released its earnings results on Monday, July 24th. The business services provider reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.73 by $0.01. ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the previous year, the company earned $1.60 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities analysts expect that ManpowerGroup will post $6.75 earnings per share for the current year.
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MAN has been the topic of several recent research reports. Zacks Investment Research lowered ManpowerGroup from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. BMO Capital Markets lifted their price objective on ManpowerGroup from $113.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. BidaskClub raised ManpowerGroup from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Credit Suisse Group reissued a “neutral” rating and set a $111.00 price objective (up previously from $106.00) on shares of ManpowerGroup in a report on Tuesday, July 25th. Finally, Northcoast Research restated a “neutral” rating on shares of ManpowerGroup in a research report on Monday, July 17th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $102.71.
In other ManpowerGroup news, COO Darryl Green sold 76,000 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $105.83, for a total transaction of $8,043,080.00. Following the completion of the sale, the chief operating officer now directly owns 36,454 shares in the company, valued at $3,857,926.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 2,100 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $107.94, for a total value of $226,674.00. Following the sale, the director now owns 11,136 shares of the company’s stock, valued at $1,202,019.84. The disclosure for this sale can be found here. Insiders have sold 121,715 shares of company stock valued at $12,904,283 over the last 90 days. Corporate insiders own 0.87% of the company’s stock.
ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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