Lecap Asset Management Ltd. Raises Stock Holdings in ManpowerGroup Inc. (NYSE:MAN)

Lecap Asset Management Ltd. grew its stake in ManpowerGroup Inc. (NYSE:MAN) by 103.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,360 shares of the business services provider’s stock after acquiring an additional 9,344 shares during the quarter. Lecap Asset Management Ltd.’s holdings in ManpowerGroup were worth $1,063,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Colonial Trust Co SC acquired a new position in ManpowerGroup in the fourth quarter valued at $28,000. Fifth Third Bancorp increased its stake in ManpowerGroup by 48.6% in the first quarter. Fifth Third Bancorp now owns 743 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 243 shares during the last quarter. GAMMA Investing LLC increased its stake in ManpowerGroup by 190.6% in the first quarter. GAMMA Investing LLC now owns 744 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 488 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in ManpowerGroup by 171.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 890 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 562 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in ManpowerGroup by 131.7% in the first quarter. UMB Bank n.a. now owns 899 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 511 shares during the last quarter. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MAN has been the subject of several analyst reports. Wall Street Zen lowered ManpowerGroup from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Barclays upgraded ManpowerGroup from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $55.00 to $50.00 in a research note on Thursday, April 10th. JPMorgan Chase & Co. dropped their price target on ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Truist Financial dropped their price target on ManpowerGroup from $55.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, April 21st. Finally, BMO Capital Markets dropped their price target on ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $50.60.

ManpowerGroup Price Performance

MAN stock opened at $39.41 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.12 and a current ratio of 1.12. ManpowerGroup Inc. has a 1 year low of $37.99 and a 1 year high of $78.22. The firm has a market cap of $1.82 billion, a P/E ratio of 17.13 and a beta of 1.08. The stock has a 50-day simple moving average of $41.59 and a 200-day simple moving average of $51.86.

ManpowerGroup (NYSE:MAN) last posted its earnings results on Thursday, April 17th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). ManpowerGroup had a net margin of 0.63% and a return on equity of 9.10%. The company had revenue of $698.30 million during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the business posted $0.94 EPS. On average, equities analysts predict that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

ManpowerGroup Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.72 dividend. This represents a yield of 3.5%. The ex-dividend date was Monday, June 2nd. ManpowerGroup’s dividend payout ratio is currently 62.61%.

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.