Brevan Howard Capital Management LP Takes Position in ManpowerGroup Inc. (NYSE:MAN)

Brevan Howard Capital Management LP acquired a new position in ManpowerGroup Inc. (NYSE:MAN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 29,522 shares of the business services provider’s stock, valued at approximately $1,704,000. Brevan Howard Capital Management LP owned about 0.06% of ManpowerGroup at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MAN. WFA Asset Management Corp acquired a new position in shares of ManpowerGroup during the fourth quarter valued at about $35,000. SRS Capital Advisors Inc. raised its stake in shares of 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 in the last quarter. Blue Trust Inc. lifted its position in ManpowerGroup by 147.9% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the business services provider’s stock worth $75,000 after purchasing an additional 778 shares during the period. R Squared Ltd acquired a new stake in ManpowerGroup during the fourth quarter worth $95,000. Finally, Quarry LP lifted its holdings in shares of ManpowerGroup by 193.4% during the 4th quarter. Quarry LP now owns 2,262 shares of the business services provider’s stock worth $131,000 after acquiring an additional 1,491 shares during the period. Institutional investors own 98.03% of the company’s stock.

ManpowerGroup Stock Down 4.7 %

Shares of MAN opened at $38.84 on Wednesday. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 12.99 and a beta of 1.09. ManpowerGroup Inc. has a 52 week low of $38.66 and a 52 week high of $78.87. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.15 and a current ratio of 1.12. The business’s fifty day moving average price is $52.36 and its two-hundred day moving average price is $57.19.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The firm had revenue of $698.30 million during the quarter, compared to analyst estimates of $3.94 billion. ManpowerGroup had a return on equity of 10.19% and a net margin of 0.81%. During the same quarter in the previous year, the business earned $0.94 earnings per share. On average, analysts predict that ManpowerGroup Inc. will post 4.23 earnings per share for the current year.

ManpowerGroup Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.72 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a yield of 3.5%. ManpowerGroup’s payout ratio is presently 133.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MAN shares. Barclays upgraded shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $55.00 to $50.00 in a research note on Thursday, April 10th. JPMorgan Chase & Co. reduced their target price on ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. 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 report on Monday, April 21st. UBS Group reduced their price objective on ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Finally, Truist Financial cut their price target on ManpowerGroup from $55.00 to $48.00 and set a “hold” rating for the company in a report on Monday, April 21st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $57.50.

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.