Principal Financial Group Inc. Buys 117,128 Shares of ManpowerGroup Inc. $MAN

Principal Financial Group Inc. lifted its stake in shares of ManpowerGroup Inc. (NYSE:MAN) by 111.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 222,059 shares of the business services provider’s stock after acquiring an additional 117,128 shares during the period. Principal Financial Group Inc. owned approximately 0.48% of ManpowerGroup worth $8,416,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd grew its position in ManpowerGroup by 119.3% in the second quarter. Y Intercept Hong Kong Ltd now owns 24,997 shares of the business services provider’s stock valued at $1,010,000 after purchasing an additional 13,597 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of ManpowerGroup in the 2nd quarter valued at about $793,000. AXQ Capital LP acquired a new stake in shares of ManpowerGroup in the second quarter valued at about $440,000. Envestnet Asset Management Inc. raised its holdings in ManpowerGroup by 43.9% during the second quarter. Envestnet Asset Management Inc. now owns 20,230 shares of the business services provider’s stock worth $817,000 after acquiring an additional 6,173 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in ManpowerGroup by 48.2% during the second quarter. Schroder Investment Management Group now owns 1,778,578 shares of the business services provider’s stock valued at $71,855,000 after purchasing an additional 578,843 shares during the last quarter. 98.03% of the stock is owned by institutional investors.

ManpowerGroup Price Performance

Shares of MAN opened at $28.63 on Friday. The company’s 50-day moving average is $30.83 and its 200-day moving average is $34.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.00. The firm has a market capitalization of $1.33 billion, a PE ratio of -95.41 and a beta of 0.88. ManpowerGroup Inc. has a fifty-two week low of $26.14 and a fifty-two week high of $63.35.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings results on Thursday, January 29th. The business services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.63 billion. ManpowerGroup had a negative net margin of 0.07% and a positive return on equity of 6.81%. ManpowerGroup’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 EPS. Equities analysts forecast that ManpowerGroup Inc. will post 4.23 EPS for the current year.

Wall Street Analysts Forecast Growth

MAN has been the topic of several recent analyst reports. UBS Group set a $35.00 price target on ManpowerGroup in a research report on Friday, January 30th. JPMorgan Chase & Co. lowered their target price on shares of ManpowerGroup from $52.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, October 20th. Robert W. Baird set a $50.00 price target on shares of ManpowerGroup in a research report on Friday, January 30th. Barclays cut their price target on shares of ManpowerGroup from $50.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday, October 17th. Finally, BMO Capital Markets raised shares of ManpowerGroup from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Thursday, December 18th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, ManpowerGroup has an average rating of “Hold” and a consensus price target of $41.13.

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.