Destination Wealth Management Purchases Shares of 600 ManpowerGroup Inc. (NYSE:MAN)

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Destination Wealth Management purchased a new stake in ManpowerGroup Inc. (NYSE:MAN) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 600 shares of the business services provider’s stock, valued at approximately $58,000.

A number of other hedge funds have also recently made changes to their positions in MAN. United Services Automobile Association increased its position in ManpowerGroup by 1.3% during the fourth quarter. United Services Automobile Association now owns 10,603 shares of the business services provider’s stock worth $687,000 after acquiring an additional 138 shares during the period. CenturyLink Investment Management Co increased its position in ManpowerGroup by 1.2% during the second quarter. CenturyLink Investment Management Co now owns 15,517 shares of the business services provider’s stock worth $1,499,000 after acquiring an additional 191 shares during the period. BB&T Corp increased its position in ManpowerGroup by 1.9% during the first quarter. BB&T Corp now owns 11,379 shares of the business services provider’s stock worth $941,000 after acquiring an additional 214 shares during the period. Empirical Finance LLC increased its position in ManpowerGroup by 0.9% during the second quarter. Empirical Finance LLC now owns 29,236 shares of the business services provider’s stock worth $2,824,000 after acquiring an additional 252 shares during the period. Finally, CIBC Asset Management Inc increased its position in ManpowerGroup by 12.1% during the first quarter. CIBC Asset Management Inc now owns 3,726 shares of the business services provider’s stock worth $308,000 after acquiring an additional 402 shares during the period. Hedge funds and other institutional investors own 90.72% of the company’s stock.

MAN has been the topic of several recent analyst reports. Bank of America decreased their target price on shares of ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating on the stock in a report on Monday. BMO Capital Markets set a $44.00 target price on shares of Schlumberger and gave the company a “hold” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. decreased their target price on shares of Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday. Credit Suisse Group initiated coverage on shares of LTC Properties in a report on Wednesday, July 10th. They issued an “underperform” rating and a $19.00 target price on the stock. Finally, ValuEngine raised shares of Alleghany from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $93.30.

NYSE:MAN traded up $1.08 during mid-day trading on Tuesday, hitting $90.78. 12,782 shares of the company’s stock were exchanged, compared to its average volume of 590,183. The stock’s 50 day moving average is $92.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.46 and a quick ratio of 1.43. ManpowerGroup Inc. has a fifty-two week low of $61.57 and a fifty-two week high of $97.96. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 10.14, a P/E/G ratio of 3.68 and a beta of 1.57.

ManpowerGroup (NYSE:MAN) last issued its quarterly earnings results on Friday, July 19th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.06. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.41 billion. ManpowerGroup had a net margin of 2.34% and a return on equity of 19.19%. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.35 EPS. On average, analysts forecast that ManpowerGroup Inc. will post 7.85 earnings per share for the current year.

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.

Further Reading: Price-Sales Ratio

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Institutional Ownership by Quarter for ManpowerGroup (NYSE:MAN)

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