ManpowerGroup (NYSE:MAN) Given New $65.00 Price Target at JPMorgan Chase & Co.

ManpowerGroup (NYSE:MAN) had its price objective decreased by JPMorgan Chase & Co. from $67.00 to $65.00 in a research note released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the business services provider’s stock.

A number of other equities analysts have also recently issued reports on MAN. UBS Group lowered their target price on shares of ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays reduced their price target on ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating on the stock in a research report on Friday, January 3rd. BMO Capital Markets dropped 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. Finally, Truist Financial restated a “hold” rating and set a $70.00 target price (down previously from $74.00) on shares of ManpowerGroup in a report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $69.33.

ManpowerGroup Stock Performance

ManpowerGroup stock opened at $60.25 on Friday. The company has a market cap of $2.83 billion, a PE ratio of 76.26 and a beta of 1.46. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. ManpowerGroup has a 1 year low of $53.70 and a 1 year high of $78.87. The company’s 50-day moving average is $59.56 and its two-hundred day moving average is $66.15.

ManpowerGroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $1.545 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 annualized dividend and a yield of 10.26%. ManpowerGroup’s payout ratio is currently 389.88%.

Institutional Investors Weigh In On ManpowerGroup

Several large investors have recently modified their holdings of MAN. 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 valued at $66,281,000 after purchasing an additional 894,379 shares during the period. Geode Capital Management LLC boosted its holdings in shares of ManpowerGroup by 0.5% in 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 buying an additional 4,113 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of ManpowerGroup in the fourth quarter valued at approximately $34,200,000. Jacobs Levy Equity Management Inc. increased its position in shares of ManpowerGroup by 6.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 549,698 shares of the business services provider’s stock worth $40,414,000 after acquiring an additional 32,083 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of ManpowerGroup by 163.7% during the second quarter. Millennium Management LLC now owns 407,970 shares of the business services provider’s stock worth $28,476,000 after acquiring an additional 253,287 shares during the period. 98.03% of the stock is currently owned by institutional investors.

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.