Kelly Services, Inc. (NASDAQ:KELYA) Stake Lowered by LSV Asset Management

LSV Asset Management cut its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 1.0% in the 4th quarter, Holdings Channel reports. The firm owned 566,329 shares of the business services provider’s stock after selling 5,800 shares during the quarter. LSV Asset Management’s holdings in Kelly Services were worth $12,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in KELYA. SG Americas Securities LLC bought a new position in Kelly Services in the 3rd quarter worth approximately $337,000. Robeco Institutional Asset Management B.V. bought a new position in Kelly Services in the 3rd quarter worth approximately $455,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Kelly Services by 80.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,135 shares of the business services provider’s stock worth $148,000 after purchasing an additional 3,616 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Kelly Services by 32.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,233 shares of the business services provider’s stock valued at $259,000 after purchasing an additional 3,481 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Kelly Services in the 3rd quarter worth $231,000. 76.34% of the stock is owned by institutional investors.

Kelly Services Stock Down 0.8 %

Shares of KELYA stock opened at $23.48 on Wednesday. Kelly Services, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $25.27. The stock has a market capitalization of $828.59 million, a P/E ratio of 23.96, a P/E/G ratio of 1.02 and a beta of 1.19. The stock has a 50-day simple moving average of $24.04 and a 200 day simple moving average of $21.94.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.38. Kelly Services had a return on equity of 6.50% and a net margin of 0.75%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the business posted $0.18 EPS. Kelly Services’s revenue was down .1% on a year-over-year basis. On average, sell-side analysts anticipate that Kelly Services, Inc. will post 1.78 earnings per share for the current year.

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were given a $0.075 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.30 annualized dividend and a dividend yield of 1.28%. Kelly Services’s dividend payout ratio (DPR) is presently 30.61%.

Insider Buying and Selling

In related news, SVP Timothy L. Dupree sold 12,711 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $24.98, for a total value of $317,520.78. Following the completion of the sale, the senior vice president now directly owns 32,392 shares of the company’s stock, valued at approximately $809,152.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Kelly Services news, SVP Timothy L. Dupree sold 12,711 shares of Kelly Services stock in a transaction on Friday, March 8th. The shares were sold at an average price of $24.98, for a total transaction of $317,520.78. Following the completion of the sale, the senior vice president now owns 32,392 shares of the company’s stock, valued at approximately $809,152.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Olivier Thirot sold 20,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $24.07, for a total value of $481,400.00. Following the sale, the executive vice president now owns 174,793 shares of the company’s stock, valued at $4,207,267.51. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

Kelly Services Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.