ManpowerGroup (NYSE:MAN) Position Lowered by Teacher Retirement System of Texas

Remigio Civitarese
Agosto 12, 2017

Creative Planning raised its stake in shares of ManpowerGroup (NYSE:MAN) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). Teacher Retirement System of Texas' holdings in ManpowerGroup were worth $23,780,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Teachers Advisors LLC now owns 222,883 shares of the business services provider's stock worth $22,861,000 after buying an additional 8,833 shares during the period. Acadian Asset Management LLC increased its position in ManpowerGroup by 334.8% in the first quarter. Gateway Investment Advisers LLC raised its position in ManpowerGroup by 0.3% in the second quarter. Fourpoints Investment Managers Sas sold 4,900 shares as Aon Plc (AON)'s stock rose 8.30%. Wedge Capital Management L L P NC acquired a new position in ManpowerGroup during the first quarter valued at about $57,066,000. JPMorgan Chase & Co. now owns 1,465,441 shares of the business services provider's stock valued at $150,311,000 after buying an additional 663,971 shares during the last quarter. Finally, Robecosam AG increased its position in shares of ManpowerGroup by 0.7% in the first quarter. Acadian Asset Management LLC now owns 920,404 shares of the business services provider's stock valued at $94,408,000 after buying an additional 708,698 shares during the last quarter. Institutional investors and hedge funds own 93.74% of the company's stock.

Manpowergroup Inc (NYSE:MAN) institutional sentiment increased to 0.91 in Q4 2016. (NYSE:MAN) news were published by: which released: "Why ManpowerGroup (MAN) Could Be a Top Value Stock Pick August 10, 2017" on August 10, 2017, also with their article: "ManpowerGroup (MAN) Beats Q2 Earnings on Higher Revenues" published on July 25, 2017, published: "ManpowerGroup Hits New 52-Week High on Strategic Initiatives" on July 17, 2017. The 50 day moving average was down $-1.55 whereas the 200 day average was up by +6.41%. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 16.41 and a beta of 1.39.

ManpowerGroup (NYSE:MAN) last issued its quarterly earnings results on Monday, July 24th. The business services provider reported $1.72 earnings per share for the quarter, missing the Zacks' consensus estimate of $1.73 by $0.01.

Evanston Investments Inc. Dba Evanston Advisors holds 2.41% of its portfolio in ManpowerGroup Inc. for 88,052 shares. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter a year ago, the firm earned $1.60 EPS. ManpowerGroup's revenue was up 2.5% on a year-over-year basis. Equities research analysts expect that ManpowerGroup will post $6.75 EPS for the current year.

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A number of research analysts have recently weighed in on MAN shares. Northcoast Research reissued a "neutral" rating on shares of ManpowerGroup in a research report on Monday, July 17th. BMO Capital Markets raised their price objective on shares of ManpowerGroup from $113.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, July 14th. Credit Suisse Group restated a "neutral" rating and set a $111.00 price objective (up previously from $106.00) on shares of ManpowerGroup in a report on Tuesday, July 25th. Royal Bank Of Canada restated a "sector perform" rating and issued a $111.00 price objective (up from $104.00) on shares of ManpowerGroup in a research report on Friday, July 14th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. ManpowerGroup now has a consensus rating of Buy and a consensus price target of $102.71.

In other ManpowerGroup news, Director Ulice Payne, Jr. sold 2,100 shares of the stock in a transaction on Friday, August 4th. Following the transaction, the senior vice president now owns 3,884 shares in the company, valued at approximately $423,356. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The stock was sold at an average price of $107.94, for a total transaction of $226,674.00. Following the transaction, the chief operating officer now directly owns 36,454 shares in the company, valued at $3,857,926.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,715 shares of company stock worth $12,904,283. The Maine-based Portland Global Ltd Liability has invested 0.6% in ManpowerGroup Inc. The Company's segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate.

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