National Bank of Canada FI Invests $1.25 Million in ManpowerGroup Inc. (NYSE:MAN)

National Bank of Canada FI acquired a new stake in shares of ManpowerGroup Inc. (NYSE:MAN) during the third quarter, according to its most recent filing with the SEC. The fund acquired 17,000 shares of the business services provider’s stock, valued at approximately $1,250,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its position in shares of ManpowerGroup by 12,496.6% during the third quarter. Pacer Advisors Inc. now owns 901,536 shares of the business services provider’s stock valued at $66,281,000 after buying an additional 894,379 shares during the period. AQR Capital Management LLC increased its holdings in ManpowerGroup by 55.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,608,368 shares of the business services provider’s stock worth $112,264,000 after acquiring an additional 573,027 shares during the period. Pzena Investment Management LLC purchased a new stake in ManpowerGroup in the 2nd quarter worth approximately $24,508,000. Point72 Asset Management L.P. boosted its holdings in ManpowerGroup by 480.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 324,866 shares of the business services provider’s stock valued at $23,884,000 after purchasing an additional 268,866 shares during the period. Finally, Millennium Management LLC grew its position in shares of ManpowerGroup by 163.7% during the 2nd quarter. Millennium Management LLC now owns 407,970 shares of the business services provider’s stock valued at $28,476,000 after purchasing an additional 253,287 shares in the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.

ManpowerGroup Trading Up 0.6 %

MAN stock opened at $61.18 on Friday. The company has a market capitalization of $2.87 billion, a PE ratio of 77.44 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.15. ManpowerGroup Inc. has a one year low of $59.35 and a one year high of $80.25. The company’s 50 day moving average price is $64.46 and its two-hundred day moving average price is $69.26.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Thursday, October 17th. The business services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.48 billion. As a group, analysts predict that ManpowerGroup Inc. will post 4.55 earnings per share for the current fiscal year.

ManpowerGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.545 per share. This represents a $6.18 annualized dividend and a yield of 10.10%. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Monday, December 2nd. ManpowerGroup’s dividend payout ratio (DPR) is presently 389.87%.

Insider Buying and Selling at ManpowerGroup

In other news, CFO John T. Mcginnis bought 8,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was bought at an average cost of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the acquisition, the chief financial officer now owns 70,639 shares in the company, valued at approximately $4,399,396.92. This trade represents a 12.77 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

MAN has been the topic of a number of recent analyst reports. UBS Group lowered their price objective on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, October 18th. Truist Financial lowered their price target on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a report on Friday, October 18th. Finally, BMO Capital Markets cut their price objective on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a report on Friday, October 18th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $76.60.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services worldwide. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.