Daiwa Securities Group Inc. boosted its stake in shares of ManpowerGroup Inc. (NYSE:MAN) by 194.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,300 shares of the company’s stock after buying an additional 3,500 shares during the period. Daiwa Securities Group Inc.’s holdings in ManpowerGroup were worth $341,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of ManpowerGroup by 3.5% in the first quarter. Geode Capital Management LLC now owns 460,817 shares of the company’s stock valued at $37,501,000 after buying an additional 15,743 shares during the last quarter. Natixis bought a new stake in ManpowerGroup during the first quarter worth about $16,911,000. Springbok Capital Management LLC raised its stake in ManpowerGroup by 712.2% in the first quarter. Springbok Capital Management LLC now owns 8,650 shares of the company’s stock worth $704,000 after buying an additional 7,585 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in ManpowerGroup during the first quarter worth about $2,554,000. Finally, BlackRock Japan Co. Ltd raised its stake in ManpowerGroup by 9.0% in the first quarter. BlackRock Japan Co. Ltd now owns 170,062 shares of the company’s stock worth $13,846,000 after buying an additional 14,024 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.
ManpowerGroup Inc. (NYSE:MAN) traded up 2.54% during trading on Friday, hitting $72.26. The stock had a trading volume of 821,384 shares. The firm has a market cap of $4.95 billion, a P/E ratio of 12.35 and a beta of 1.87. ManpowerGroup Inc. has a 52-week low of $57.26 and a 52-week high of $93.34. The company has a 50-day moving average of $70.29 and a 200 day moving average of $73.76.
ManpowerGroup (NYSE:MAN) last announced its earnings results on Thursday, July 21st. The company reported $1.60 EPS for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.08. ManpowerGroup had a return on equity of 17.19% and a net margin of 2.23%. The company had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same period last year, the firm earned $1.33 EPS. ManpowerGroup’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts predict that ManpowerGroup Inc. will post $5.90 earnings per share for the current fiscal year.
A number of research firms recently issued reports on MAN. BMO Capital Markets reiterated an “outperform” rating and set a $81.00 price objective on shares of ManpowerGroup in a research note on Tuesday, September 27th. Zacks Investment Research upgraded ManpowerGroup from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Tuesday, September 20th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $85.00 price objective on shares of ManpowerGroup in a research note on Friday, August 26th. Macquarie began coverage on ManpowerGroup in a research note on Thursday, August 25th. They set an “outperform” rating and a $86.00 price objective on the stock. Finally, Deutsche Bank AG began coverage on ManpowerGroup in a research note on Wednesday, August 17th. They set a “hold” rating and a $77.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. ManpowerGroup currently has an average rating of “Hold” and a consensus target price of $82.83.
In related news, EVP Handel Michael J. Van sold 31,855 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $69.77, for a total value of $2,222,523.35. Following the transaction, the executive vice president now directly owns 31,378 shares of the company’s stock, valued at approximately $2,189,243.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Handel Michael J. Van sold 57,348 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $70.13, for a total value of $4,021,815.24. Following the completion of the transaction, the executive vice president now directly owns 40,931 shares in the company, valued at $2,870,491.03. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
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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