AE Wealth Management LLC, a prominent institutional investor, has recently acquired a new stake in ManpowerGroup Inc. (NYSE:MAN), according to their latest 13F filing with the Securities and Exchange Commission (SEC). This strategic move shows AE Wealth Management’s confidence in the potential of the business services provider.
The acquisition resulted in AE Wealth Management owning 42,363 shares of ManpowerGroup’s stock, which is valued at approximately $3,364,000. As of the most recent SEC filing, this stake represents 0.08% ownership of the company by AE Wealth Management.
ManpowerGroup released its quarterly earnings data on July 20th, providing insights into their financial performance. For that quarter, they reported earnings per share of $1.58, slightly below the consensus estimate of $1.62 by ($0.04). Despite missing estimates, ManpowerGroup demonstrated a return on equity of 15.66% and a net margin of 1.58%. The company generated revenue of $4.86 billion for the quarter, meeting analyst expectations almost exactly.
However, it is worth noting that the business experienced a dip in quarterly revenue compared to the same period last year; it was down 4.3% year-over-year. Nevertheless, analysts remain optimistic about ManpowerGroup’s future prospects as they predict it will post an EPS of 5.78 for the current fiscal year.
Various industry analysts have shared their perspectives on ManpowerGroup’s stock performance. For example Robert W. Baird decreased their target price from $97.00 to $95.00 but maintained an “outperform” rating for the company in a research report published on July 21st.
UBS Group also weighed in with a “neutral” rating and a target price of $77.00 back on May 31st when they began coverage on ManpowerGroup.
Redburn Partners expressed bullish sentiment by initiating coverage of ManpowerGroup with a “buy” rating and a target price of $94.00 on June 20th.
On the other hand, BMO Capital Markets dropped their price target on ManpowerGroup from $90.00 to $88.00 and assigned a “market perform” rating on July 24th.
Even though there are varying opinions, it is important to note that according to Bloomberg, the average rating for ManpowerGroup is currently classified as “Hold” with a consensus target price of $82.50.
ManpowerGroup holds an essential position in the business services sector, offering workforce solutions around the globe. As its performance continues to evolve, investors and analysts alike will be closely monitoring its progress in navigating market conditions and delivering value to shareholders.
[bs_slider_forecast ticker=”MAN”]
Recent Developments in ManpowerGroup’s Institutional Holdings and Insider Trading
In recent months, several institutional investors and hedge funds have been actively buying and selling shares of ManpowerGroup, the renowned business services provider. American Century Companies Inc. notably increased its holdings in the company by 1.3% during the first quarter, now owning 182,414 shares valued at $15,055,000 after purchasing an additional 2,342 shares. Likewise, Deutsche Bank AG raised its position in ManpowerGroup by 29.0% in the fourth quarter, currently owning 473,853 shares worth $39,429,000 after acquiring an additional 106,649 shares.
Furthermore, NorthCrest Asset Management LLC demonstrated a 15.1% increase in its position in the business services firm during the first quarter. The company now holds 6,213 shares valued at $513,000 after purchasing an additional 813 shares. Retirement Systems of Alabama also bolstered its position by 6.6% during the same period and currently owns 154,952 shares worth $12,788,000 after acquiring an additional 9,574 shares. Lastly Moran Wealth Management LLC experienced an 8.4% increase in its stake by adding another of 628 shares to their portfolio.
These transactions highlight both the interest and confidence that institutional investors and hedge funds have displayed towards ManpowerGroup over the past few quarters. Currently owned by them are approximately 96.78% of the company’s outstanding stock – a significant percentage indicating their substantial presence as shareholders.
Meanwhile, on a separate note regarding internal affairs within ManpowerGroup itself is news of Director Ulice Payne Jr.’s sale of 1,100 company shares on Thursday August 24th. This transaction took place at an average price of $77.30 per share amounting to a total value of $85,030. Following this sale event Mr. Payne now directly holds a remaining balance of slightly over eight thousand six hundred and twenty stocks. The total value of these stocks currently stands at approximately $666,326.
Additionally, Senior Vice President Donald O. Mondano sold 2,000 shares of the company’s stock on Tuesday July 25th for a price of $81.40 per share totaling $162,800 in value. After this transaction, Mr. Mondano now owns 3,440 shares of ManpowerGroup valued at around $280,016.
These developments were disclosed through documents filed with the Securities and Exchange Commission (SEC), which are accessible to the public through their website. These filings provide transparency to investors and aid them in making informed decisions.
As further evidence of insider activity within the business services provider, Director Ulice Payne Jr. proceeded to sell an additional 1,100 shares on Thursday August 24th at an average price of $77.30 per share, resulting in a total value of $85,030. Following this sale event as well, Mr. Payne now owns a remaining balance of roughly eight thousand six hundred and twenty stocks estimated at a current market value around $666,326. It is notable that insiders collectively own approximately 2.40% of ManpowerGroup’s outstanding stock.
Shifting focus to the company’s financial performance in recent times reveals that on Friday September 22nd ManpowerGroup shares were trading at a price point of $74.19 per share during opening hours.This figure implies a current ratio and quick ratio both sitting at 1.21 indicating good liquidity levels overall within the company’s assets. Meanwhile its debt-to-equity ratio measures at 0.40 suggesting reasonable solvency capabilities.
Overlooking moving averages signals that the fifty-day measure rests at $78.00 with the two-hundred-day reaching $77.37 providing potential insights for investors who often analyze trends derived from these figures when making investment decisions.
Finally yet importantly ManpowerGroup’s market capitalization stands at a formidable $3.68 billion and the business services provider has a price-to-earnings ratio of 12.62, reminding investors that share prices are relative to the company’s current earnings. Additionally, it is worth noting that with a PEG ratio of 7.28, ManpowerGroup is showing signs of potentially high growth expectations.
In conclusion, recent updates in institutional holdings as well as insider trading activity within ManpowerGroup warrant scrutiny from both existing and potential shareholders. These developments provide valuable insights into the overall health of the company and also serve as a benchmark for investment decisions moving forward. With a solid market presence backed by substantial institutional ownership, this renowned business services provider continues to operate in a dynamic and competitive environment.
