CIBC Asset Management Inc Has $345,000 Position in ManpowerGroup (MAN)

CIBC Asset Management Inc maintained its stake in shares of ManpowerGroup (NYSE:MAN) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,093 shares of the business services provider’s stock at the end of the second quarter. CIBC Asset Management Inc’s holdings in ManpowerGroup were worth $345,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its stake in shares of ManpowerGroup by 13.9% in the first quarter. Janney Montgomery Scott LLC now owns 4,318 shares of the business services provider’s stock valued at $443,000 after buying an additional 528 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of ManpowerGroup by 27.8% in the first quarter. First Citizens Bank & Trust Co. now owns 3,982 shares of the business services provider’s stock valued at $408,000 after buying an additional 867 shares in the last quarter. Acadian Asset Management LLC increased 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 in the last quarter. Korea Investment CORP increased its stake in shares of ManpowerGroup by 66.8% in the first quarter. Korea Investment CORP now owns 337,700 shares of the business services provider’s stock valued at $34,638,000 after buying an additional 135,200 shares in the last quarter. Finally, First Manhattan Co. increased its stake in shares of ManpowerGroup by 10.7% in the first quarter. First Manhattan Co. now owns 67,409 shares of the business services provider’s stock valued at $4,871,000 after buying an additional 6,520 shares in the last quarter. 93.95% of the stock is owned by institutional investors and hedge funds.

ManpowerGroup (MAN) opened at 106.81 on Friday. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 16.34 and a beta of 1.39. The firm has a 50-day moving average price of $111.01 and a 200 day moving average price of $103.72. ManpowerGroup has a 12 month low of $67.30 and a 12 month high of $119.59.

ManpowerGroup (NYSE:MAN) last released its earnings results on Monday, July 24th. The business services provider reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.06 billion. ManpowerGroup had a net margin of 2.24% and a return on equity of 17.90%. ManpowerGroup’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.60 EPS. On average, equities analysts forecast that ManpowerGroup will post $6.75 EPS for the current year.

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Several brokerages have recently commented on MAN. Northcoast Research reaffirmed a “neutral” rating on shares of ManpowerGroup in a report on Monday, July 17th. Royal Bank Of Canada reissued a “sector perform” rating and set a $111.00 price target (up from $104.00) on shares of ManpowerGroup in a research report on Friday, July 14th. BMO Capital Markets upped their price target on ManpowerGroup from $113.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, July 14th. Zacks Investment Research raised ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Tuesday, July 4th. Finally, BidaskClub raised ManpowerGroup from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $102.71.

In related news, EVP Sriram Chandrashekar sold 19,912 shares of ManpowerGroup stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $105.39, for a total value of $2,098,525.68. Following the sale, the executive vice president now owns 1,659 shares of the company’s stock, valued at $174,842.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 2,100 shares of ManpowerGroup stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $107.94, for a total value of $226,674.00. Following the completion of the sale, the director now directly owns 11,136 shares in the company, valued at approximately $1,202,019.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,715 shares of company stock worth $12,904,283. 0.87% of the stock is owned by company insiders.

ManpowerGroup Company Profile

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.

Institutional Ownership by Quarter for ManpowerGroup (NYSE:MAN)

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