Vestcor Inc Sells 8,625 Shares of ManpowerGroup Inc. (NYSE:MAN)

Vestcor Inc lessened its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 64.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,814 shares of the business services provider’s stock after selling 8,625 shares during the quarter. Vestcor Inc’s holdings in ManpowerGroup were worth $278,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MAN. Pacer Advisors Inc. raised its holdings in 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 purchasing an additional 894,379 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in ManpowerGroup in the fourth quarter worth about $34,200,000. Point72 Asset Management L.P. lifted its holdings in ManpowerGroup by 480.1% in the third quarter. Point72 Asset Management L.P. now owns 324,866 shares of the business services provider’s stock worth $23,884,000 after buying an additional 268,866 shares during the period. Bank of New York Mellon Corp boosted its position in ManpowerGroup by 34.5% during the 4th quarter. Bank of New York Mellon Corp now owns 748,246 shares of the business services provider’s stock valued at $43,189,000 after acquiring an additional 191,901 shares in the last quarter. Finally, KLCM Advisors Inc. grew its holdings in shares of ManpowerGroup by 153.9% during the 4th quarter. KLCM Advisors Inc. now owns 296,594 shares of the business services provider’s stock worth $17,119,000 after acquiring an additional 179,788 shares during the period. Hedge funds and other institutional investors own 98.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MAN. Truist Financial restated a “hold” rating and set a $70.00 price target (down from $74.00) on shares of ManpowerGroup in a research report on Friday, January 31st. JPMorgan Chase & Co. reduced their target price on shares of ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. UBS Group dropped their price objective on shares of ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Barclays decreased their target price on shares of ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $69.33.

ManpowerGroup Price Performance

MAN opened at $60.04 on Tuesday. The firm has a market cap of $2.81 billion, a PE ratio of 20.08 and a beta of 1.43. The stock has a 50-day moving average price of $57.91 and a 200-day moving average price of $62.78. ManpowerGroup Inc. has a 1 year low of $53.31 and a 1 year high of $78.87. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.15.

ManpowerGroup 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.