ManpowerGroup (MAN) Stake Lowered by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD reduced its position in ManpowerGroup (NYSE:MAN) by 15.0% during the second quarter, Holdings Channel reports. The fund owned 4,685 shares of the business services provider’s stock after selling 828 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in ManpowerGroup were worth $523,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MAN. World Asset Management Inc raised its position in ManpowerGroup by 0.7% in the first quarter. World Asset Management Inc now owns 5,309 shares of the business services provider’s stock worth $545,000 after buying an additional 37 shares during the last quarter. FormulaFolio Investments LLC raised its position in ManpowerGroup by 0.7% in the first quarter. FormulaFolio Investments LLC now owns 5,016 shares of the business services provider’s stock worth $515,000 after buying an additional 37 shares during the last quarter. Gateway Investment Advisers LLC raised its position in ManpowerGroup by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 17,669 shares of the business services provider’s stock worth $1,973,000 after buying an additional 46 shares during the last quarter. Robecosam AG raised its position in shares of ManpowerGroup by 0.7% in the first quarter. Robecosam AG now owns 7,048 shares of the business services provider’s stock valued at $726,000 after buying an additional 49 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its position in shares of ManpowerGroup by 0.9% in the first quarter. Kovitz Investment Group Partners LLC now owns 7,365 shares of the business services provider’s stock valued at $755,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 93.74% of the company’s stock.

ManpowerGroup (NYSE:MAN) opened at 107.26 on Friday. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 16.41 and a beta of 1.39. ManpowerGroup has a 52 week low of $67.30 and a 52 week high of $119.59. The company’s 50-day moving average price is $110.91 and its 200 day moving average price is $103.22.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings results on Monday, July 24th. The business services provider reported $1.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.06 billion. ManpowerGroup had a net margin of 2.24% and a return on equity of 17.90%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.60 earnings per share. On average, analysts predict that ManpowerGroup will post $6.75 EPS for the current year.

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Several brokerages recently issued reports on MAN. BidaskClub lowered ManpowerGroup from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Northcoast Research restated a “neutral” rating on shares of ManpowerGroup in a research note on Monday, July 17th. Credit Suisse Group restated a “neutral” rating and set a $111.00 price target (up from $106.00) on shares of ManpowerGroup in a research note on Tuesday, July 25th. Royal Bank Of Canada restated a “sector perform” rating and set a $111.00 price target (up from $104.00) on shares of ManpowerGroup in a research note on Friday, July 14th. Finally, BMO Capital Markets boosted their price target on ManpowerGroup from $113.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, July 14th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. ManpowerGroup currently has a consensus rating of “Hold” and an average target price of $102.71.

In other ManpowerGroup news, Director Ulice Payne, Jr. sold 2,100 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $107.94, for a total value of $226,674.00. Following the transaction, the director now directly owns 11,136 shares of the company’s stock, valued at approximately $1,202,019.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Darryl Green sold 76,000 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $105.83, for a total transaction of $8,043,080.00. Following the completion of the transaction, the chief operating officer now directly owns 36,454 shares in the company, valued at $3,857,926.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 121,715 shares of company stock worth $12,904,283. Insiders own 0.87% of the company’s stock.

About ManpowerGroup

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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Institutional Ownership by Quarter for ManpowerGroup (NYSE:MAN)

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