V Wealth Management LLC purchased a new position in shares of ManpowerGroup (NYSE:MAN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,637 shares of the business services provider’s stock, valued at approximately $294,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in shares of ManpowerGroup by 39.8% in the first quarter. Russell Investments Group Ltd. now owns 520,809 shares of the business services provider’s stock worth $53,432,000 after buying an additional 148,161 shares during the last quarter. Teachers Advisors LLC boosted its stake in ManpowerGroup by 4.1% in the first quarter. Teachers Advisors LLC now owns 222,883 shares of the business services provider’s stock worth $22,861,000 after buying an additional 8,833 shares during the period. First Trust Advisors LP boosted its stake in ManpowerGroup by 0.4% in the first quarter. First Trust Advisors LP now owns 309,270 shares of the business services provider’s stock worth $31,722,000 after buying an additional 1,245 shares during the period. Creative Planning boosted its stake in ManpowerGroup by 6.0% in the first quarter. Creative Planning now owns 5,964 shares of the business services provider’s stock worth $612,000 after buying an additional 335 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new stake in ManpowerGroup during the first quarter worth approximately $57,066,000. 93.74% of the stock is owned by institutional investors.
Shares of ManpowerGroup (MAN) traded down 0.38% during trading on Friday, hitting $106.85. The stock had a trading volume of 412,182 shares. The stock’s 50 day moving average is $110.90 and its 200-day moving average is $103.33. 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 PE ratio of 16.35 and a beta of 1.39.
ManpowerGroup (NYSE:MAN) last posted its quarterly earnings results on Monday, July 24th. The business services provider reported $1.72 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the company posted $1.60 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. Analysts forecast that ManpowerGroup will post $6.75 earnings per share for the current year.
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A number of research firms have recently commented on MAN. Northcoast Research restated a “neutral” rating on shares of ManpowerGroup in a research report on Monday, July 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $111.00 price objective (up from $104.00) on shares of ManpowerGroup in a research report on Friday, July 14th. BMO Capital Markets boosted their price target on ManpowerGroup from $113.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, July 14th. Zacks Investment Research upgraded ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Tuesday, July 4th. Finally, BidaskClub upgraded ManpowerGroup from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. ManpowerGroup presently has an average rating of “Buy” and an average target price of $102.71.
In other ManpowerGroup news, Director Ulice Payne, Jr. sold 2,100 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $107.94, for a total transaction of $226,674.00. Following the transaction, the director now directly owns 11,136 shares of the company’s stock, valued at $1,202,019.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Darryl Green sold 76,000 shares of the 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 transaction, the chief operating officer now directly owns 36,454 shares in the company, valued at $3,857,926.82. The disclosure for this sale can be found here. Insiders sold 121,715 shares of company stock worth $12,904,283 over the last ninety days. 0.87% of the stock is currently owned by company insiders.
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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