Millennium Management LLC Raises Position in ManpowerGroup (MAN)

Millennium Management LLC increased its stake in ManpowerGroup (NYSE:MAN) by 4,014.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,293 shares of the business services provider’s stock after purchasing an additional 163,227 shares during the quarter. Millennium Management LLC’s holdings in ManpowerGroup were worth $21,097,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC boosted its stake in shares of ManpowerGroup by 33.2% during the 4th quarter. Acadian Asset Management LLC now owns 2,296,960 shares of the business services provider’s stock worth $289,674,000 after acquiring an additional 573,030 shares during the last quarter. APG Asset Management N.V. boosted its stake in shares of ManpowerGroup by 15.7% during the 4th quarter. APG Asset Management N.V. now owns 1,107,339 shares of the business services provider’s stock worth $116,295,000 after acquiring an additional 149,900 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of ManpowerGroup by 46.7% during the 4th quarter. Wells Fargo & Company MN now owns 518,860 shares of the business services provider’s stock worth $65,433,000 after acquiring an additional 165,146 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of ManpowerGroup by 5.6% during the 3rd quarter. Legal & General Group Plc now owns 450,689 shares of the business services provider’s stock worth $53,108,000 after acquiring an additional 24,027 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of ManpowerGroup by 96.3% during the 3rd quarter. Janus Henderson Group PLC now owns 378,265 shares of the business services provider’s stock worth $44,568,000 after acquiring an additional 185,591 shares during the last quarter. Institutional investors own 94.27% of the company’s stock.

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NYSE:MAN opened at $115.10 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.28 and a current ratio of 1.28. ManpowerGroup has a fifty-two week low of $97.15 and a fifty-two week high of $136.93. The firm has a market cap of $7,615.18, a P/E ratio of 16.35 and a beta of 1.34.

ManpowerGroup (NYSE:MAN) last released its earnings results on Friday, February 2nd. The business services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.07. ManpowerGroup had a net margin of 2.59% and a return on equity of 17.86%. The company had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the previous year, the company earned $1.87 EPS. ManpowerGroup’s revenue for the quarter was up 13.7% on a year-over-year basis. equities analysts expect that ManpowerGroup will post 8.96 earnings per share for the current year.

In related news, EVP Sriram Chandrashekar sold 39,420 shares of ManpowerGroup stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $119.33, for a total transaction of $4,703,988.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Darryl Green sold 10,000 shares of ManpowerGroup stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $117.26, for a total transaction of $1,172,600.00. Following the transaction, the chief operating officer now owns 21,233 shares in the company, valued at approximately $2,489,781.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,547 shares of company stock worth $6,842,051. 1.02% of the stock is owned by corporate insiders.

Several research analysts have recently weighed in on MAN shares. ValuEngine cut shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Deutsche Bank reiterated a “hold” rating and set a $110.00 price target on shares of ManpowerGroup in a research note on Tuesday, January 9th. Zacks Investment Research upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Thursday, January 11th. BMO Capital Markets dropped their price target on shares of ManpowerGroup to $136.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Finally, Argus lifted their price target on shares of ManpowerGroup from $120.23 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, March 8th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $125.22.

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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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