Citadel Advisors LLC grew its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 111.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,816 shares of the business services provider’s stock after buying an additional 29,362 shares during the period. Citadel Advisors LLC owned 0.15% of Kelly Services worth $1,401,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in Kelly Services by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 379,054 shares of the business services provider’s stock worth $9,625,000 after purchasing an additional 9,685 shares during the period. Legal & General Group Plc boosted its stake in Kelly Services by 11.4% during the 3rd quarter. Legal & General Group Plc now owns 59,097 shares of the business services provider’s stock worth $1,483,000 after purchasing an additional 6,059 shares during the period. Nordea Investment Management AB boosted its stake in Kelly Services by 2.6% during the 3rd quarter. Nordea Investment Management AB now owns 156,100 shares of the business services provider’s stock worth $3,917,000 after purchasing an additional 4,000 shares during the period. Macquarie Group Ltd. acquired a new stake in Kelly Services during the 3rd quarter worth $218,000. Finally, ClariVest Asset Management LLC boosted its stake in Kelly Services by 3.3% during the 3rd quarter. ClariVest Asset Management LLC now owns 200,000 shares of the business services provider’s stock worth $5,018,000 after purchasing an additional 6,400 shares during the period. Institutional investors and hedge funds own 66.11% of the company’s stock.
Several analysts have recently commented on KELYA shares. Zacks Investment Research upgraded shares of Kelly Services from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a research note on Tuesday, November 14th. BidaskClub downgraded shares of Kelly Services from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, ValuEngine upgraded shares of Kelly Services from a “hold” rating to a “buy” rating in a report on Friday, August 11th.
In other news, Director Jane E. Dutton sold 6,900 shares of Kelly Services stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $29.05, for a total transaction of $200,445.00. Following the sale, the director now owns 24,180 shares in the company, valued at $702,429. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George S. Corona sold 3,000 shares of Kelly Services stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $28.06, for a total transaction of $84,180.00. Following the sale, the chief executive officer now owns 193,473 shares in the company, valued at approximately $5,428,852.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,400 shares of company stock valued at $499,800. Insiders own 16.10% of the company’s stock.
Kelly Services, Inc. (KELYA) opened at $28.88 on Thursday. The stock has a market cap of $1,115.09, a PE ratio of 14.88 and a beta of 1.10. Kelly Services, Inc. has a twelve month low of $20.27 and a twelve month high of $30.93.
Kelly Services (NASDAQ:KELYA) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.27. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.30 billion. Kelly Services had a net margin of 1.44% and a return on equity of 7.25%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. analysts expect that Kelly Services, Inc. will post 2.04 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.04%. Kelly Services’s dividend payout ratio (DPR) is presently 15.71%.
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About Kelly Services
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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