Toronto Dominion Bank Reduces Stock Position in ManpowerGroup Inc. (NYSE:MAN)

Toronto Dominion Bank cut its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 15.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,426 shares of the business services provider’s stock after selling 1,705 shares during the quarter. Toronto Dominion Bank’s holdings in ManpowerGroup were worth $910,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MAN. Parallel Advisors LLC increased its holdings in shares of ManpowerGroup by 144.4% in the 2nd quarter. Parallel Advisors LLC now owns 352 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 208 shares during the last quarter. CWM LLC lifted its holdings in shares of ManpowerGroup by 114.4% in the second quarter. CWM LLC now owns 373 shares of the business services provider’s stock valued at $36,000 after buying an additional 199 shares during the period. Destination Wealth Management acquired a new stake in shares of ManpowerGroup in the second quarter valued at $58,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in shares of ManpowerGroup in the second quarter valued at $95,000. Finally, Machina Capital S.A.S. lifted its holdings in shares of ManpowerGroup by 273.5% in the second quarter. Machina Capital S.A.S. now owns 1,042 shares of the business services provider’s stock valued at $101,000 after buying an additional 763 shares during the period. Institutional investors own 93.13% of the company’s stock.

Several brokerages have recently weighed in on MAN. Bank of America cut their price objective on ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. upped their price objective on ManpowerGroup from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Credit Suisse Group lowered ManpowerGroup from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $88.00 to $83.00 in a report on Wednesday, July 10th. Royal Bank of Canada cut their price objective on ManpowerGroup from $114.00 to $110.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Finally, ValuEngine lowered ManpowerGroup from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $93.30.

In other ManpowerGroup news, SVP Richard Buchband sold 1,750 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $85.43, for a total value of $149,502.50. Following the transaction, the senior vice president now owns 8,214 shares in the company, valued at $701,722.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mara E. Swan sold 14,871 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $84.48, for a total value of $1,256,302.08. Following the completion of the transaction, the executive vice president now owns 7,228 shares in the company, valued at approximately $610,621.44. The disclosure for this sale can be found here. Insiders own 1.49% of the company’s stock.

NYSE:MAN traded up $1.09 during trading hours on Thursday, hitting $87.00. 9,080 shares of the company’s stock traded hands, compared to its average volume of 427,131. The firm has a market cap of $5.18 billion, a P/E ratio of 9.73, a P/E/G ratio of 3.67 and a beta of 1.60. ManpowerGroup Inc. has a twelve month low of $61.57 and a twelve month high of $97.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.46 and a current ratio of 1.46. The stock’s fifty day moving average price is $84.92 and its two-hundred day moving average price is $88.51.

ManpowerGroup (NYSE:MAN) last posted its quarterly earnings results on Friday, July 19th. The business services provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.06. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.41 billion. ManpowerGroup had a return on equity of 19.19% and a net margin of 2.34%. ManpowerGroup’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.35 earnings per share. On average, equities research analysts predict that ManpowerGroup Inc. will post 7.56 earnings per share for the current year.

ManpowerGroup announced that its board has initiated a stock repurchase program on Friday, August 2nd that authorizes the company to buyback 6,000,000 shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is 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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