ManpowerGroup Inc. $MAN Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in ManpowerGroup Inc. (NYSE:MAN) by 52.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,916 shares of the business services provider’s stock after selling 42,436 shares during the period. JPMorgan Chase & Co. owned about 0.08% of ManpowerGroup worth $1,438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in ManpowerGroup by 0.3% in the third quarter. Vanguard Group Inc. now owns 6,211,092 shares of the business services provider’s stock valued at $235,400,000 after buying an additional 19,501 shares in the last quarter. AQR Capital Management LLC raised its stake in ManpowerGroup by 60.3% in the third quarter. AQR Capital Management LLC now owns 3,704,326 shares of the business services provider’s stock valued at $140,394,000 after buying an additional 1,393,622 shares in the last quarter. Schroder Investment Management Group raised its stake in ManpowerGroup by 1.4% in the third quarter. Schroder Investment Management Group now owns 1,803,686 shares of the business services provider’s stock valued at $68,360,000 after buying an additional 25,108 shares in the last quarter. Alberta Investment Management Corp raised its stake in ManpowerGroup by 772.9% in the third quarter. Alberta Investment Management Corp now owns 1,059,100 shares of the business services provider’s stock valued at $40,140,000 after buying an additional 937,771 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in ManpowerGroup by 696.9% in the second quarter. Balyasny Asset Management L.P. now owns 991,063 shares of the business services provider’s stock valued at $40,039,000 after buying an additional 866,693 shares in the last quarter. 98.03% of the stock is currently owned by institutional investors and hedge funds.

ManpowerGroup Stock Down 1.5%

MAN opened at $27.87 on Thursday. The business’s 50-day simple moving average is $29.34 and its 200-day simple moving average is $30.74. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. ManpowerGroup Inc. has a one year low of $25.15 and a one year high of $53.30. The stock has a market capitalization of $1.30 billion, a P/E ratio of -92.89 and a beta of 0.84.

ManpowerGroup (NYSE:MAN) last posted its earnings results on Thursday, January 29th. The business services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. ManpowerGroup had a positive return on equity of 6.81% and a negative net margin of 0.07%.The business had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. Analysts anticipate that ManpowerGroup Inc. will post 4.23 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on MAN shares. UBS Group set a $35.00 price target on ManpowerGroup in a research note on Friday, January 30th. Weiss Ratings restated a “sell (d)” rating on shares of ManpowerGroup in a research note on Friday, March 27th. Barclays cut their price target on ManpowerGroup from $42.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, March 6th. The Goldman Sachs Group upgraded ManpowerGroup from a “sell” rating to a “neutral” rating and set a $30.00 target price on the stock in a research report on Wednesday, March 18th. Finally, Robert W. Baird set a $50.00 target price on ManpowerGroup in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.25.

About ManpowerGroup

ManpowerGroup (NYSE: MAN) is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.

The company’s service offerings are organized into four principal brands.