12,865 Shares in ManpowerGroup Inc. (NYSE:MAN) Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC purchased a new position in shares of ManpowerGroup Inc. (NYSE:MAN) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 12,865 shares of the business services provider’s stock, valued at approximately $743,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MAN. Pacer Advisors Inc. boosted its stake in shares of ManpowerGroup by 12,496.6% in the 3rd quarter. Pacer Advisors Inc. now owns 901,536 shares of the business services provider’s stock worth $66,281,000 after buying an additional 894,379 shares during the last quarter. Geode Capital Management LLC boosted its position in ManpowerGroup by 0.5% in the third quarter. Geode Capital Management LLC now owns 794,704 shares of the business services provider’s stock worth $58,444,000 after purchasing an additional 4,113 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in ManpowerGroup in the fourth quarter worth $34,200,000. Jacobs Levy Equity Management Inc. boosted its position in ManpowerGroup by 6.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 549,698 shares of the business services provider’s stock worth $40,414,000 after purchasing an additional 32,083 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in ManpowerGroup by 4.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 403,070 shares of the business services provider’s stock worth $29,634,000 after purchasing an additional 15,407 shares during the last quarter. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MAN has been the topic of a number of research analyst reports. UBS Group cut their price target on shares of ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Truist Financial reiterated a “hold” rating and issued a $70.00 target price (down from $74.00) on shares of ManpowerGroup in a research note on Friday, January 31st. Barclays dropped their target price on shares of ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating on the stock in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $69.33.

ManpowerGroup Stock Performance

Shares of MAN stock opened at $55.00 on Thursday. The stock has a market capitalization of $2.58 billion, a P/E ratio of 18.39 and a beta of 1.45. The company has a current ratio of 1.12, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $57.81 and its 200 day moving average is $64.50. ManpowerGroup Inc. has a 12 month low of $53.70 and a 12 month high of $78.87.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services worldwide. 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. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.