CIBC Asset Management Inc trimmed its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,421 shares of the business services provider’s stock after selling 305 shares during the period. CIBC Asset Management Inc’s holdings in ManpowerGroup were worth $288,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Empirical Finance LLC lifted its stake in ManpowerGroup by 0.9% during the 2nd quarter. Empirical Finance LLC now owns 29,236 shares of the business services provider’s stock valued at $2,824,000 after acquiring an additional 252 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in ManpowerGroup by 14.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 432,278 shares of the business services provider’s stock valued at $41,759,000 after acquiring an additional 55,900 shares during the period. Alpha Windward LLC lifted its stake in ManpowerGroup by 6,902.7% during the 2nd quarter. Alpha Windward LLC now owns 5,182 shares of the business services provider’s stock valued at $476,000 after acquiring an additional 5,108 shares during the period. Welch & Forbes LLC acquired a new stake in ManpowerGroup during the 2nd quarter valued at approximately $215,000. Finally, Pensionfund DSM Netherlands acquired a new position in shares of ManpowerGroup in the 2nd quarter valued at $2,318,000. Institutional investors and hedge funds own 93.29% of the company’s stock.
Several research firms recently issued reports on MAN. Bank of America decreased their target price on shares of ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets boosted their target price on shares of ManpowerGroup from $86.00 to $88.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Credit Suisse Group decreased their target price on shares of ManpowerGroup from $82.00 to $78.00 and set an “underperform” rating for the company in a research note on Friday, October 18th. They noted that the move was a valuation call. Argus cut shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, ValuEngine upgraded shares of ManpowerGroup from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $94.14.
ManpowerGroup announced that its Board of Directors has approved a stock repurchase program on Friday, August 2nd that authorizes the company to repurchase 6,000,000 shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
In related news, EVP Mara E. Swan sold 14,871 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $84.48, for a total value of $1,256,302.08. Following the completion of the sale, the executive vice president now owns 7,228 shares of the company’s stock, valued at approximately $610,621.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Handel Michael J. Van sold 9,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $92.09, for a total transaction of $828,810.00. Following the completion of the sale, the director now directly owns 8,283 shares of the company’s stock, valued at approximately $762,781.47. The disclosure for this sale can be found here. In the last three months, insiders sold 37,108 shares of company stock valued at $3,274,382. 1.49% of the stock is owned by insiders.
ManpowerGroup Company Profile
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.
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