State Street Corp Has $26.84 Million Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

State Street Corp raised its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 1.4% during the third quarter, HoldingsChannel.com reports. The fund owned 1,253,704 shares of the business services provider’s stock after purchasing an additional 17,579 shares during the period. State Street Corp’s holdings in Kelly Services were worth $26,842,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. grew its stake in shares of Kelly Services by 20.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 329,932 shares of the business services provider’s stock worth $7,064,000 after buying an additional 56,457 shares during the last quarter. HighTower Advisors LLC acquired a new position in Kelly Services in the 3rd quarter worth about $213,000. ClearAlpha Technologies LP raised its position in Kelly Services by 14.9% in the third quarter. ClearAlpha Technologies LP now owns 18,917 shares of the business services provider’s stock valued at $405,000 after purchasing an additional 2,458 shares during the last quarter. Martingale Asset Management L P raised its position in Kelly Services by 87.4% in the third quarter. Martingale Asset Management L P now owns 92,286 shares of the business services provider’s stock valued at $1,976,000 after purchasing an additional 43,033 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Kelly Services by 11.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,977 shares of the business services provider’s stock valued at $1,541,000 after purchasing an additional 7,570 shares in the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.

Insider Activity at Kelly Services

In other Kelly Services news, SVP Daniel H. Malan acquired 3,500 shares of the stock in a transaction dated Wednesday, November 20th. The stock was purchased at an average cost of $13.88 per share, with a total value of $48,580.00. Following the transaction, the senior vice president now owns 95,906 shares in the company, valued at approximately $1,331,175.28. The trade was a 3.79 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 3.90% of the stock is currently owned by company insiders.

Kelly Services Price Performance

KELYA stock opened at $13.02 on Monday. The company has a market capitalization of $463.64 million, a P/E ratio of 11.32, a PEG ratio of 0.56 and a beta of 1.13. The company has a fifty day moving average price of $16.58 and a 200-day moving average price of $19.57. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. Kelly Services, Inc. has a 52-week low of $12.68 and a 52-week high of $25.27.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.23). Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business earned $0.50 earnings per share. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, equities analysts expect that Kelly Services, Inc. will post 1.93 EPS for the current year.

Kelly Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Wednesday, November 20th. Kelly Services’s dividend payout ratio is currently 26.09%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research dropped their price objective on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 18th.

About Kelly Services

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.