Kelly Services, Inc. (NASDAQ:KELYA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 4.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 151,987 shares of the business services provider’s stock after selling 6,730 shares during the quarter. Principal Financial Group Inc.’s holdings in Kelly Services were worth $3,254,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Federated Hermes Inc. boosted its stake in shares of Kelly Services by 6.8% during the 2nd quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider’s stock valued at $224,000 after buying an additional 668 shares during the last quarter. Bailard Inc. raised its holdings in Kelly Services by 6.9% in the second quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock valued at $233,000 after acquiring an additional 700 shares in the last quarter. US Bancorp DE boosted its stake in Kelly Services by 9.3% during the 3rd quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock valued at $217,000 after acquiring an additional 866 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Kelly Services during the 2nd quarter worth $30,000. Finally, Innealta Capital LLC bought a new stake in shares of Kelly Services in the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barrington Research reduced their target price on Kelly Services from $29.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday. StockNews.com lowered Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

Insider Buying and Selling

In other news, SVP Daniel H. Malan purchased 3,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $13.88 per share, for a total transaction of $48,580.00. Following the completion of the acquisition, the senior vice president now directly owns 95,906 shares of the company’s stock, valued at $1,331,175.28. The trade was a 3.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.90% of the stock is owned by corporate insiders.

Kelly Services Stock Performance

KELYA opened at $13.92 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $19.56 and its 200-day moving average is $20.85. The stock has a market cap of $495.69 million, a PE ratio of 11.96, a price-to-earnings-growth ratio of 0.53 and a beta of 1.20. Kelly Services, Inc. has a twelve month low of $13.71 and a twelve month high of $25.27.

Kelly Services (NASDAQ:KELYA) last released its earnings results on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.23). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 EPS. On average, analysts predict that Kelly Services, Inc. will post 2.07 earnings per share for the current year.

Kelly Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.075 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.30 annualized dividend and a yield of 2.16%. Kelly Services’s dividend payout ratio is currently 26.09%.

Kelly Services Company 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.