Public Employees Retirement Association of Colorado lessened its stake in ManpowerGroup Inc. (NYSE:MAN) by 15.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,463 shares of the business services provider’s stock after selling 1,523 shares during the period. Public Employees Retirement Association of Colorado’s holdings in ManpowerGroup were worth $818,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of ManpowerGroup by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,592,465 shares of the business services provider’s stock worth $103,194,000 after purchasing an additional 75,824 shares in the last quarter. BB&T Corp grew its holdings in shares of ManpowerGroup by 1.9% during the first quarter. BB&T Corp now owns 11,379 shares of the business services provider’s stock worth $941,000 after purchasing an additional 214 shares in the last quarter. Boston Advisors LLC grew its holdings in shares of ManpowerGroup by 80.0% during the first quarter. Boston Advisors LLC now owns 47,156 shares of the business services provider’s stock worth $3,899,000 after purchasing an additional 20,958 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of ManpowerGroup during the first quarter worth about $507,000. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of ManpowerGroup by 21.6% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 116,823 shares of the business services provider’s stock worth $9,660,000 after purchasing an additional 20,760 shares in the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.
MAN stock opened at $84.23 on Wednesday. ManpowerGroup Inc. has a fifty-two week low of $61.57 and a fifty-two week high of $97.96. The business’s 50-day moving average is $90.04 and its two-hundred day moving average is $88.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 9.41, a P/E/G ratio of 3.57 and a beta of 1.55.
ManpowerGroup declared that its board has approved a stock repurchase program on Friday, August 2nd that authorizes the company to repurchase 6,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
A number of analysts recently weighed in on the company. Credit Suisse Group downgraded ManpowerGroup from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $88.00 to $83.00 in a research report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price objective on ManpowerGroup from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Bank of America reduced their target price on ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Finally, Royal Bank of Canada reduced their price target on ManpowerGroup from $114.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $93.30.
ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. 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.
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