ManpowerGroup (NYSE:MAN) Reaches New 1-Year Low – Time to Sell?

ManpowerGroup Inc. (NYSE:MAN)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $54.88 and last traded at $55.28, with a volume of 36209 shares changing hands. The stock had previously closed at $56.58.

Wall Street Analysts Forecast Growth

MAN has been the subject of several recent analyst reports. Barclays decreased their target price on shares of ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating for the company in a research report on Friday, January 3rd. UBS Group decreased their price objective on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, October 18th. BMO Capital Markets cut their target price on ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research note on Friday, October 18th. Finally, Truist Financial decreased their price target on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, ManpowerGroup has an average rating of “Hold” and a consensus price target of $73.00.

ManpowerGroup Stock Performance

The company’s 50-day moving average price is $60.72 and its two-hundred day moving average price is $67.28. The company has a market cap of $2.57 billion, a P/E ratio of 69.23 and a beta of 1.46. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.48 billion. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. As a group, equities analysts forecast that ManpowerGroup Inc. will post 4.55 earnings per share for the current year.

ManpowerGroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $1.545 per share. The ex-dividend date was Monday, December 2nd. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. This represents a $6.18 dividend on an annualized basis and a dividend yield of 11.30%. ManpowerGroup’s payout ratio is 389.87%.

Insider Activity

In other news, CFO John T. Mcginnis purchased 8,000 shares of ManpowerGroup stock in a transaction that occurred on Wednesday, October 23rd. The stock was acquired at an average price of $62.28 per share, for a total transaction of $498,240.00. Following the transaction, the chief financial officer now owns 70,639 shares in the company, valued at $4,399,396.92. The trade was a 12.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ManpowerGroup

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAN. Blue Trust Inc. boosted its position in shares of ManpowerGroup by 248.3% in the third quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock worth $37,000 after buying an additional 375 shares during the period. Headlands Technologies LLC acquired a new stake in ManpowerGroup during the 2nd quarter worth about $47,000. Capital Performance Advisors LLP purchased a new position in ManpowerGroup during the 3rd quarter valued at about $54,000. Abich Financial Wealth Management LLC increased its holdings in shares of ManpowerGroup by 34.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 786 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 203 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in ManpowerGroup by 400.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,666 shares of the business services provider’s stock valued at $122,000 after buying an additional 1,333 shares during the period. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services worldwide. 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. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.