Russell Investments Group Ltd. Increases Stake in Kelly Services, Inc. (KELYA)
Russell Investments Group Ltd. boosted its position in Kelly Services, Inc. (NASDAQ:KELYA) by 22.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 167,958 shares of the business services provider’s stock after buying an additional 30,412 shares during the period. Russell Investments Group Ltd. owned 0.48% of Kelly Services worth $3,770,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Kelly Services by 7.3% in the first quarter. Vanguard Group Inc. now owns 2,711,377 shares of the business services provider’s stock worth $59,270,000 after buying an additional 183,473 shares during the last quarter. LSV Asset Management increased its position in shares of Kelly Services by 21.8% in the first quarter. LSV Asset Management now owns 801,261 shares of the business services provider’s stock worth $17,515,000 after buying an additional 143,261 shares during the last quarter. State Street Corp increased its position in shares of Kelly Services by 17.8% in the first quarter. State Street Corp now owns 751,076 shares of the business services provider’s stock worth $16,416,000 after buying an additional 113,572 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Kelly Services during the first quarter worth approximately $2,306,000. Finally, Acadian Asset Management LLC increased its position in shares of Kelly Services by 186.5% in the first quarter. Acadian Asset Management LLC now owns 68,847 shares of the business services provider’s stock worth $1,504,000 after buying an additional 44,818 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.
Shares of Kelly Services, Inc. (KELYA) traded up 0.66% during trading on Friday, reaching $21.42. The company’s stock had a trading volume of 59,964 shares. Kelly Services, Inc. has a 1-year low of $18.01 and a 1-year high of $24.70. The company’s 50-day moving average price is $22.28 and its 200 day moving average price is $22.11. The stock has a market capitalization of $820.56 million, a price-to-earnings ratio of 6.42 and a beta of 0.98.
Kelly Services (NASDAQ:KELYA) last issued its earnings results on Wednesday, August 9th. The business services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.23 by $0.24. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Kelly Services had a net margin of 1.37% and a return on equity of 6.95%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 EPS. Analysts anticipate that Kelly Services, Inc. will post $1.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 22nd will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, August 18th. Kelly Services’s payout ratio is presently 8.85%.
A number of equities analysts have commented on the company. ValuEngine upgraded Kelly Services from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded Kelly Services from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Friday, August 11th. BidaskClub downgraded Kelly Services from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Finally, Northcoast Research restated a “neutral” rating on shares of Kelly Services in a research note on Friday, May 12th.
In other news, Director Donald R. Parfet sold 22,029 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $23.10, for a total value of $508,869.90. Following the completion of the transaction, the director now directly owns 23,520 shares in the company, valued at approximately $543,312. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.10% of the stock is currently owned by insiders.
Kelly Services Company Profile
Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).
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