ManpowerGroup (NYSE:MAN) Reaches New 52-Week Low – Should You Sell?

ManpowerGroup Inc. (NYSE:MAN)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $59.32 and last traded at $59.36, with a volume of 572883 shares. The stock had previously closed at $61.18.

Analysts Set New Price Targets

Several research firms have issued reports on MAN. Truist Financial cut their price target on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a report on Friday, October 18th. 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 research note on Friday, October 18th. Finally, UBS Group decreased their target price on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, October 18th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, ManpowerGroup currently has a consensus rating of “Hold” and a consensus price target of $76.60.

ManpowerGroup Price Performance

The firm has a 50-day moving average of $64.46 and a 200-day moving average of $69.24. The stock has a market cap of $2.79 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 current ratio of 1.15 and a quick ratio of 1.15.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Thursday, October 17th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.48 billion. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. Research analysts predict that ManpowerGroup Inc. will post 4.55 EPS for the current 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 $1.545 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.18 annualized dividend and a yield of 10.41%. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. ManpowerGroup’s dividend payout ratio (DPR) is currently 389.87%.

Insider Buying and Selling at ManpowerGroup

In other ManpowerGroup news, CFO John T. Mcginnis bought 8,000 shares of ManpowerGroup stock in a transaction on Wednesday, October 23rd. The shares were acquired at an average price of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the purchase, the chief financial officer now directly 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 Securities & Exchange Commission, which is available at this link. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On ManpowerGroup

Several institutional investors have recently bought and sold shares of MAN. Victory Capital Management Inc. raised its position in shares of ManpowerGroup by 4.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,125,887 shares of the business services provider’s stock worth $287,987,000 after acquiring an additional 183,527 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ManpowerGroup by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,299,985 shares of the business services provider’s stock valued at $160,539,000 after buying an additional 103,059 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of ManpowerGroup by 55.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,608,368 shares of the business services provider’s stock valued at $112,264,000 after buying an additional 573,027 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of ManpowerGroup by 12,496.6% in the 3rd quarter. Pacer Advisors Inc. now owns 901,536 shares of the business services provider’s stock worth $66,281,000 after buying an additional 894,379 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in ManpowerGroup by 0.5% during the third quarter. Geode Capital Management LLC now owns 794,704 shares of the business services provider’s stock valued at $58,444,000 after acquiring an additional 4,113 shares during the last quarter. 98.03% of the stock is owned by hedge funds and other institutional investors.

ManpowerGroup Company Profile

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.