Millennium Management LLC reduced its stake in ManpowerGroup Inc. (NYSE:MAN) by 23.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 526,498 shares of the business services provider’s stock after selling 164,300 shares during the quarter. Millennium Management LLC owned 0.85% of ManpowerGroup worth $34,117,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of MAN. Legal & General Group Plc lifted its position in ManpowerGroup by 1.5% during the fourth quarter. Legal & General Group Plc now owns 395,854 shares of the business services provider’s stock valued at $25,652,000 after buying an additional 5,982 shares in the last quarter. Globeflex Capital L P raised its stake in shares of ManpowerGroup by 24.9% during the fourth quarter. Globeflex Capital L P now owns 13,540 shares of the business services provider’s stock valued at $877,000 after purchasing an additional 2,703 shares during the period. Jane Street Group LLC raised its stake in shares of ManpowerGroup by 1,365.8% during the fourth quarter. Jane Street Group LLC now owns 24,509 shares of the business services provider’s stock valued at $1,588,000 after purchasing an additional 22,837 shares during the period. Worldquant Millennium Quantitative Strategies LLC raised its stake in shares of ManpowerGroup by 28.8% during the fourth quarter. Worldquant Millennium Quantitative Strategies LLC now owns 328,544 shares of the business services provider’s stock valued at $21,290,000 after purchasing an additional 73,398 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of ManpowerGroup during the fourth quarter valued at approximately $1,011,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.
In other ManpowerGroup news, SVP Richard Buchband sold 3,471 shares of the company’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $83.15, for a total transaction of $288,613.65. Following the completion of the sale, the senior vice president now owns 4,986 shares of the company’s stock, valued at $414,585.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $85.40, for a total value of $149,450.00. Following the sale, the director now directly owns 8,036 shares of the company’s stock, valued at approximately $686,274.40. The disclosure for this sale can be found here. In the last three months, insiders sold 19,927 shares of company stock valued at $1,686,603. 1.49% of the stock is currently owned by company insiders.
ManpowerGroup (NYSE:MAN) last issued its earnings results on Thursday, April 18th. The business services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5 billion. ManpowerGroup had a return on equity of 20.08% and a net margin of 2.39%. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 EPS. Research analysts forecast that ManpowerGroup Inc. will post 7.71 EPS for the current fiscal year.
A number of analysts recently issued reports on MAN shares. Zacks Investment Research lowered shares of ManpowerGroup from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. ValuEngine upgraded shares of ManpowerGroup from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 31st. TheStreet upgraded shares of ManpowerGroup from a “c+” rating to a “b-” rating in a research note on Wednesday, February 20th. Royal Bank of Canada initiated coverage on shares of ManpowerGroup in a report on Tuesday, April 16th. They set an “outperform” rating for the company. Finally, BMO Capital Markets downgraded shares of ManpowerGroup from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $83.00 to $81.00 in a report on Friday, February 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $96.00.
ManpowerGroup Company Profile
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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