Axa lessened its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 25.7% in the third quarter, HoldingsChannel reports. The fund owned 215,800 shares of the business services provider’s stock after selling 74,500 shares during the period. Axa’s holdings in ManpowerGroup were worth $18,550,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. IFP Advisors Inc raised its holdings in shares of ManpowerGroup by 148.6% during the third quarter. IFP Advisors Inc now owns 1,310 shares of the business services provider’s stock valued at $113,000 after acquiring an additional 783 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings in ManpowerGroup by 213.0% in the second quarter. Itau Unibanco Holding S.A. now owns 1,643 shares of the business services provider’s stock worth $141,000 after purchasing an additional 1,118 shares in the last quarter. Atria Investments LLC bought a new position in ManpowerGroup in the third quarter worth $214,000. Verity Asset Management Inc. bought a new position in ManpowerGroup in the second quarter worth $243,000. Finally, Frontier Investment Mgmt Co. bought a new position in ManpowerGroup in the second quarter worth $258,000. Institutional investors own 91.86% of the company’s stock.
In other news, EVP Mara E. Swan sold 11,192 shares of the firm’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $93.77, for a total transaction of $1,049,473.84. Following the completion of the transaction, the executive vice president now directly owns 13,493 shares in the company, valued at $1,265,238.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John R. Walter sold 7,403 shares of the firm’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $77.74, for a total value of $575,509.22. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
ManpowerGroup (NYSE:MAN) last issued its quarterly earnings results on Friday, October 19th. The business services provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.02. ManpowerGroup had a return on equity of 20.02% and a net margin of 2.76%. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same period last year, the company earned $2.04 earnings per share. The company’s revenue was down .8% on a year-over-year basis. On average, equities analysts predict that ManpowerGroup Inc. will post 8.7 earnings per share for the current year.
ManpowerGroup declared that its Board of Directors has authorized a stock repurchase plan on Friday, August 3rd that authorizes the company to buyback 6,000,000 shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Monday, December 3rd will be issued a dividend of $1.01 per share. The ex-dividend date is Friday, November 30th. This is an increase from ManpowerGroup’s previous quarterly dividend of $0.93. This represents a $4.04 annualized dividend and a dividend yield of 5.03%. ManpowerGroup’s dividend payout ratio (DPR) is presently 28.69%.
A number of equities analysts have issued reports on the company. ValuEngine downgraded ManpowerGroup from a “sell” rating to a “strong sell” rating in a report on Friday, August 3rd. Credit Suisse Group assumed coverage on ManpowerGroup in a report on Friday, August 10th. They issued an “outperform” rating and a $115.00 price objective for the company. Zacks Investment Research upgraded ManpowerGroup from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Barclays decreased their price objective on ManpowerGroup from $90.00 to $85.00 and set an “underweight” rating for the company in a report on Tuesday, October 2nd. Finally, Macquarie downgraded ManpowerGroup from an “outperform” rating to a “neutral” rating and set a $91.00 price objective for the company. in a report on Tuesday, October 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. ManpowerGroup presently has a consensus rating of “Hold” and a consensus target price of $99.85.
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ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The company's recruitment service portfolio includes permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions.
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