Bank of Nova Scotia Raises Stake in ManpowerGroup Inc. (NYSE:MAN)

Bank of Nova Scotia lifted its position in ManpowerGroup Inc. (NYSE:MAN) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,676 shares of the business services provider’s stock after purchasing an additional 458 shares during the period. Bank of Nova Scotia’s holdings in ManpowerGroup were worth $328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC raised its holdings in ManpowerGroup by 62.9% during the third quarter. Barclays PLC now owns 154,886 shares of the business services provider’s stock valued at $11,387,000 after acquiring an additional 59,821 shares during the period. Geode Capital Management LLC raised its stake in ManpowerGroup by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 794,704 shares of the business services provider’s stock valued at $58,444,000 after purchasing an additional 4,113 shares during the period. Virtu Financial LLC bought a new stake in ManpowerGroup during the 3rd quarter valued at approximately $664,000. Sanctuary Advisors LLC boosted its stake in ManpowerGroup by 39.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 7,754 shares of the business services provider’s stock worth $570,000 after purchasing an additional 2,208 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of ManpowerGroup during the third quarter valued at approximately $207,000. 98.03% of the stock is currently owned by institutional investors.

ManpowerGroup Stock Performance

NYSE:MAN opened at $50.35 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.15 and a current ratio of 1.12. The stock’s fifty day moving average is $56.28 and its 200 day moving average is $60.18. The firm has a market capitalization of $2.35 billion, a PE ratio of 16.84 and a beta of 1.28. ManpowerGroup Inc. has a fifty-two week low of $47.29 and a fifty-two week high of $78.87.

Wall Street Analyst Weigh In

MAN has been the topic of a number of research reports. Barclays upgraded shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $55.00 to $50.00 in a report on Thursday, April 10th. UBS Group cut their price target on ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Truist Financial lowered their target price on ManpowerGroup from $70.00 to $55.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut their target price on shares of ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $65.00.

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.