On September 8, 2023, it was reported that Charles Schwab Investment Management Inc. has increased its stake in ManpowerGroup Inc. The investment management company added an additional 3,764 shares of the business services provider’s stock during the first quarter, representing a growth of 0.7%. This brings their total ownership to 549,283 shares valued at $45,332,000 as per their most recent filing with the Securities and Exchange Commission (SEC).
In related news, SVP Donald O. Mondano recently sold 2,000 shares of ManpowerGroup stock on July 25th for an average price of $81.40 per share. The total transaction amounted to $162,800. Following this sale, Mondano’s direct ownership in the company now stands at 3,440 shares with a value of approximately $280,016.
Moreover, Director Ulice Payne, Jr. also divested himself of some shares on August 24th. He sold 1,100 shares at an average price of $77.30 per share for a total value of $85,030. Currently holding 8,620 shares in the company worth around $666,326.
These transactions were disclosed in separate legal filings with the SEC and can be accessed through the appropriate links provided on their website.
It is worth noting that insiders collectively hold about 2.40% of ManpowerGroup’s stock.
ManpowerGroup Inc., listed on the New York Stock Exchange under the ticker symbol “MAN,” is a global leader in innovative workforce solutions and services aimed at helping organizations navigate through ever-evolving talent needs. With over seventy years of experience and operations spread across over seventy countries worldwide, ManpowerGroup offers a comprehensive range of workforce solutions that include staffing services and recruitment expertise tailored to meet individual client requirements.
Investors and market watchers are advised to stay updated with relevant news and analysis on ManpowerGroup to make informed decisions.
Updated on: 05/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Changes in Hedge Fund and Institutional Investor Activity Spark Speculation on the Future of ManpowerGroup
In recent months, several hedge funds and institutional investors have made changes to their investments in ManpowerGroup (NYSE:MAN), a global leader in workforce solutions. This influx of activity has raised eyebrows and prompted speculation about the future of the company.
Vigilant Capital Management LLC, for example, acquired a new stake in ManpowerGroup during the first quarter of this year. The value of this new investment is estimated at approximately $41,000. Similarly, Operose Advisors LLC followed suit with a purchase of their own worth $41,000 during the same period. Captrust Financial Advisors demonstrated confidence in ManpowerGroup’s potential by increasing their holdings by 72.6% in the first quarter. These financial advisors now own 858 shares valued at approximately $81,000.
The trend continued as Industrial Alliance Investment Management Inc., boosted its holdings in ManpowerGroup by an astounding 671.3% during the fourth quarter of last year. They now possess 1,211 shares worth around $101,000. Ronald Blue Trust Inc., on the other hand, revealed an increase of 41.2% in their ownership during the first quarter with a total holding of 1,248 shares valued at $104,000. It is important to note that institutional investors make up a significant portion, approximately 96.78%, of the company’s stock ownership.
Financial analysts have also chimed in on the matter with mixed ratings for ManpowerGroup shares. BMO Capital Markets reduced its price target from $90 to $88 and designated a “market perform” rating for the company back in July. StockNews.com initiated coverage on ManpowerGroup and gave it a “hold” rating on August 17th.
In contrast, The Goldman Sachs Group presented a less optimistic assessment by increasing their price target on ManpowerGroup from $69 to $79 while maintaining a “sell” rating for its stock. Robert W. Baird’s analysts decreased the price objective from $97 to $95 and issued an “outperform” rating on the stock in July.
Redburn Partners, however, displayed a positive outlook as they initiated coverage on ManpowerGroup with a “buy” rating and set a price target of $94 back in June. Overall, the consensus rating for the stock is currently reflected as “Hold,” with an average target price of $82.50 based on data from Bloomberg.com.
As for its recent financial performance, ManpowerGroup started trading at $74.09 on Friday. Over the past year, the company’s shares have fluctuated between a low of $64.00 and a high of $92.43. The 50-day moving average stands at $79.23, while the 200-day moving average sits at $78.15.
With a market capitalization totaling approximately $3.67 billion and a modest price-to-earnings (P/E) ratio of 12.60, ManpowerGroup positions itself as an attractive investment opportunity for many investors seeking value stocks.
ManpowerGroup reported second-quarter earnings data on July 20th, revealing that their EPS (earnings per share) fell short of analyst expectations at $1.58 versus the consensus estimate of $1.62—an unexpected decrease of ($0.04). Quarterly revenue amounted to $4.86 billion compared to the consensus estimate of $4.85 billion.
The decline in quarterly revenue represents a 4.3% decrease when compared to the same period last year. Furthermore, ManpowerGroup posted a net margin of 1.58% along with an impressive return on equity (ROE) standing at 15.66%. It is worth noting that during the same quarter in the previous year, the company reported earnings per share (EPS) of $2.33.
Sell-side analysts are anticipating a rebound for the company, projecting that ManpowerGroup will report earnings-per-share of 5.8 for the current fiscal year.
As investors and analysts assess the present circumstances surrounding ManpowerGroup, all eyes remain fixed on how these various factors will shape the future trajectory and profitability of this global workforce solutions provider.