Acadian Asset Management LLC Acquires 573,030 Shares of ManpowerGroup Inc. (MAN)
Acadian Asset Management LLC increased its holdings in ManpowerGroup Inc. (NYSE:MAN) by 33.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,296,960 shares of the business services provider’s stock after buying an additional 573,030 shares during the period. ManpowerGroup makes up approximately 1.3% of Acadian Asset Management LLC’s holdings, making the stock its 15th largest holding. Acadian Asset Management LLC’s holdings in ManpowerGroup were worth $289,674,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC increased its holdings in shares of ManpowerGroup by 27.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 924 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 200 shares during the period. Harfst & Associates Inc. purchased a new position in ManpowerGroup in the 2nd quarter valued at $149,000. National Pension Service purchased a new position in ManpowerGroup in the 4th quarter valued at $165,000. Aviance Capital Management LLC purchased a new position in ManpowerGroup in the 2nd quarter valued at $200,000. Finally, Calamos Advisors LLC purchased a new position in ManpowerGroup in the 3rd quarter valued at $203,000. 94.56% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on MAN. BMO Capital Markets lifted their price objective on shares of ManpowerGroup from $124.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, October 2nd. Deutsche Bank reiterated a “hold” rating and issued a $110.00 price objective on shares of ManpowerGroup in a research report on Tuesday, January 9th. Zacks Investment Research upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Thursday, January 11th. ValuEngine lowered shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Royal Bank of Canada lowered shares of ManpowerGroup from an “outperform” rating to a “sector perform” rating in a research report on Thursday, September 28th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $125.25.
ManpowerGroup (NYSE:MAN) last issued its earnings results on Friday, October 20th. The business services provider reported $2.04 EPS for the quarter, topping the consensus estimate of $1.96 by $0.08. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.41 billion. ManpowerGroup had a net margin of 2.24% and a return on equity of 17.80%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.87 EPS. equities research analysts forecast that ManpowerGroup Inc. will post 6.9 earnings per share for the current year.
In other ManpowerGroup news, EVP Mara E. Swan sold 6,731 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $123.19, for a total transaction of $829,191.89. Following the sale, the executive vice president now directly owns 31,416 shares in the company, valued at approximately $3,870,137.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gina Boswell sold 7,725 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $123.96, for a total transaction of $957,591.00. Following the sale, the director now owns 6,601 shares in the company, valued at $818,259.96. The disclosure for this sale can be found here. Insiders have sold a total of 30,015 shares of company stock worth $3,762,970 over the last 90 days. Insiders own 0.87% of the company’s stock.
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ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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