On September 20, 2023, it was reported that Pacer Advisors Inc. had increased its stake in ManpowerGroup Inc. (NYSE:MAN) during the second quarter by 34.0%. According to the company’s filing with the Securities and Exchange Commission (SEC), Pacer Advisors Inc. now owns 350,191 shares of ManpowerGroup’s stock after purchasing an additional 88,815 shares.
At the time of the filing, Pacer Advisors Inc.’s stake in ManpowerGroup was valued at $27,805,000. This increase in ownership demonstrates a growing confidence in the business services provider.
ManpowerGroup last reported its earnings results on July 20th, revealing that they had earned $1.58 per share for the quarter. While this figure fell short of the consensus estimate of $1.62 by ($0.04), their revenue for the quarter came in at $4.86 billion, slightly exceeding analysts’ expectations of $4.85 billion.
The net margin for ManpowerGroup was recorded at 1.58%, with a return on equity of 15.66%. Although the company experienced a decline of 4.3% in quarterly revenue compared to the same period last year, it is anticipated that ManpowerGroup will post earnings per share of 5.78 for the current fiscal year.
Analyst reports have discussed various aspects of ManpowerGroup recently. Redburn Partners initiated coverage on the company and gave it a “buy” rating and a price objective of $94.00 on June 20th. Additionally, StockNews.com began coverage with a “hold” rating on August 17th.
However, not all analyst reports have been favorable toward ManpowerGroup. The Goldman Sachs Group raised concerns and increased their price target from $69.00 to $79.00 while giving the stock a “sell” rating on July 21st. Similarly, BMO Capital Markets lowered their price target from $90.00 to $88.00 and rated the stock as “market perform” on July 24th.
ManpowerGroup presently holds a consensus rating of “Hold” and a consensus target price of $82.50, according to data from Bloomberg.com. With two sell ratings, seven hold ratings, and three buy ratings, the company’s overall rating demonstrates a mixed sentiment among analysts.
It is evident that ManpowerGroup’s recent performance and investor interest have drawn attention from market participants. As the business services provider continues to navigate through challenging market conditions, investors will closely monitor its future earnings reports and management decisions that may impact its financial outlook.
ManpowerGroup Inc.
MAN
Strong Buy
Updated on: 05/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Shifts in Stock Holdings and Insider Transactions Highlight ManpowerGroup’s Financial Landscape
ManpowerGroup, a leading business services provider, has recently experienced changes in its stock holdings by several institutional investors and hedge funds. Capital Insight Partners LLC has increased its stake in ManpowerGroup by 4.2% during the first quarter, now owning 3,465 shares of the company’s stock valued at $286,000. Strengthening Families & Communities LLC also raised its holdings by 8.1% during the same period, now owning 1,965 shares valued at $10,468,000.
Additionally, Treasurer of the State of North Carolina increased its stake in ManpowerGroup by 0.7% in the first quarter and currently owns 21,963 shares valued at $1,813,000. Raymond James Financial Services Advisors Inc. also added to its holdings by 1.9% in the fourth quarter with 8,680 shares now valued at $722,000. Moreover, Belpointe Asset Management LLC lifted its holdings by 9.1% during the first quarter and now owns 2,295 shares worth $189,000.
It is worth noting that approximately 96.78% of ManpowerGroup’s stock is currently owned by institutional investors and hedge funds.
In other news related to ManpowerGroup’s stock activity, Director Ulice Payne Jr. recently sold 1,100 shares on August 24th for an average price of $77.30 per share, totaling $85,030 in transactions. Following this sale announcement to the Securities and Exchange Commission (SEC), Payne Jr.’s remaining ownership stands at 8,620 shares with a value of $666326.
Another significant transaction was made by SVP Donald O. Mondano on July 25th when he sold 2,000 shares at an average price of $81.40 per share for a total of $162800. After the sale, Mondano now owns 3,440 shares valued at approximately $280016.
Corporate insiders currently hold 2.40% of ManpowerGroup’s stock.
ManpowerGroup Inc. opened at a stock price of $74.53 on September 20, 2023. Over the past year, the company’s stock has ranged from a low point of $64 to a high point of $9243. The fifty-day moving average stands at $78.36, while the two-hundred-day moving average stands at $77.42.
With a market capitalization of $3.70 billion, ManpowerGroup Inc.’s current ratio and quick ratio both stand at 1.21. The debt-to-equity ratio is 0.40, indicating a moderately stable financial position for the company.
From this data, it can be observed that ManpowerGroup has experienced fluctuations in its stock ownership among institutional investors and hedge funds, as well as notable insider transactions. The company’s stock performance has also shown volatility within the given time frame.
Investors and stakeholders may find this information useful in assessing ManpowerGroup’s overall financial health and potential for future growth in the business services sector.
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