SeaTown Holdings Pte. Ltd. boosted its holdings in ManpowerGroup Inc. (NYSE:MAN) by 62.7% during the second quarter, Holdings Channel.com reports. The firm owned 60,797 shares of the business services provider’s stock after acquiring an additional 23,428 shares during the quarter. SeaTown Holdings Pte. Ltd.’s holdings in ManpowerGroup were worth $5,873,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. LSV Asset Management grew its holdings in ManpowerGroup by 4.4% in the first quarter. LSV Asset Management now owns 1,907,255 shares of the business services provider’s stock worth $157,710,000 after purchasing an additional 79,792 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of ManpowerGroup by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,592,465 shares of the business services provider’s stock valued at $103,194,000 after buying an additional 75,824 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of ManpowerGroup by 4,521.4% during the first quarter. Victory Capital Management Inc. now owns 1,403,200 shares of the business services provider’s stock valued at $116,031,000 after buying an additional 1,372,837 shares during the last quarter. FMR LLC grew its holdings in shares of ManpowerGroup by 2.1% during the first quarter. FMR LLC now owns 682,407 shares of the business services provider’s stock valued at $56,428,000 after buying an additional 13,803 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of ManpowerGroup by 171.5% during the first quarter. JPMorgan Chase & Co. now owns 590,329 shares of the business services provider’s stock valued at $48,815,000 after buying an additional 372,917 shares during the last quarter. Institutional investors and hedge funds own 91.24% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada cut their price target on shares of ManpowerGroup from $114.00 to $110.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets increased their price target on shares of ManpowerGroup to $93.00 and gave the company a “market perform” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. increased their price target on shares of ManpowerGroup from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Bank of America cut their price target on shares of ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Finally, Credit Suisse Group cut shares of ManpowerGroup from a “neutral” rating to an “underperform” rating and cut their price target for the company from $88.00 to $83.00 in a report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. ManpowerGroup has a consensus rating of “Hold” and a consensus target price of $93.30.

ManpowerGroup stock traded up $1.51 during midday trading on Tuesday, reaching $87.88. 8,629 shares of the company traded hands, compared to its average volume of 573,106. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 3.68 and a beta of 1.55. The company’s 50 day simple moving average is $91.67. ManpowerGroup Inc. has a 12 month low of $61.57 and a 12 month high of $97.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.46 and a quick ratio of 1.46.

ManpowerGroup (NYSE:MAN) last issued its quarterly earnings data on Friday, July 19th. The business services provider reported $2.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.06. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.41 billion. ManpowerGroup had a net margin of 2.34% and a return on equity of 19.19%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.35 earnings per share. Sell-side analysts forecast that ManpowerGroup Inc. will post 7.63 earnings per share for the current fiscal year.

ManpowerGroup declared that its Board of Directors has authorized a share buyback plan on Friday, August 2nd that authorizes the company to buyback 6,000,000 outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

About ManpowerGroup

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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Institutional Ownership by Quarter for ManpowerGroup (NYSE:MAN)

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