Parametric Portfolio Associates LLC Has $35.40 Million Holdings in ManpowerGroup Inc. (NYSE:MAN)
Parametric Portfolio Associates LLC boosted its holdings in ManpowerGroup Inc. (NYSE:MAN) by 11.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 366,416 shares of the business services provider’s stock after buying an additional 38,285 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.61% of ManpowerGroup worth $35,396,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in ManpowerGroup by 144.4% in the second quarter. Parallel Advisors LLC now owns 352 shares of the business services provider’s stock valued at $34,000 after buying an additional 208 shares in the last quarter. CWM LLC boosted its stake in ManpowerGroup by 114.4% in the second quarter. CWM LLC now owns 373 shares of the business services provider’s stock valued at $36,000 after buying an additional 199 shares in the last quarter. Destination Wealth Management acquired a new stake in ManpowerGroup in the second quarter valued at about $58,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in ManpowerGroup in the second quarter valued at about $95,000. Finally, Machina Capital S.A.S. boosted its stake in ManpowerGroup by 273.5% in the second quarter. Machina Capital S.A.S. now owns 1,042 shares of the business services provider’s stock valued at $101,000 after buying an additional 763 shares in the last quarter. 93.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of MAN stock traded down $0.82 during mid-day trading on Monday, reaching $86.05. 10,038 shares of the stock traded hands, compared to its average volume of 400,168. The stock’s fifty day simple moving average is $85.64 and its two-hundred day simple moving average is $88.47. ManpowerGroup Inc. has a 1-year low of $61.57 and a 1-year high of $97.96. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 3.62 and a beta of 1.60. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.50.
ManpowerGroup declared that its board has approved a share buyback program on Friday, August 2nd that authorizes the company to repurchase 6,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
Several analysts recently weighed in on the company. Bank of America reduced their price objective on ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Credit Suisse Group lowered ManpowerGroup from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $88.00 to $83.00 in a research note on Wednesday, July 10th. Royal Bank of Canada reduced their price objective on ManpowerGroup from $114.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. ValuEngine lowered ManpowerGroup from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lifted their price target on ManpowerGroup from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. ManpowerGroup has a consensus rating of “Hold” and an average target price of $93.30.
In related news, EVP Mara E. Swan sold 14,871 shares of ManpowerGroup stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $84.48, for a total value of $1,256,302.08. Following the transaction, the executive vice president now directly owns 7,228 shares of the company’s stock, valued at $610,621.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Richard Buchband sold 1,750 shares of ManpowerGroup stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $85.43, for a total value of $149,502.50. Following the completion of the transaction, the senior vice president now directly owns 8,214 shares in the company, valued at $701,722.02. The disclosure for this sale can be found here. Company insiders own 1.49% of the company’s stock.
ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. 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.
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