Lazard Asset Management LLC Raises Position in Kelly Services, Inc. (NASDAQ:KELYA)

Lazard Asset Management LLC raised its stake in shares of Kelly Services, Inc. (NASDAQ:KELYAGet Rating) by 144.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,070 shares of the business services provider’s stock after purchasing an additional 5,945 shares during the period. Lazard Asset Management LLC’s holdings in Kelly Services were worth $199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. KBC Group NV purchased a new stake in shares of Kelly Services in the second quarter worth approximately $61,000. Captrust Financial Advisors raised its holdings in shares of Kelly Services by 43.0% in the first quarter. Captrust Financial Advisors now owns 3,407 shares of the business services provider’s stock worth $74,000 after buying an additional 1,024 shares during the period. US Bancorp DE raised its holdings in shares of Kelly Services by 16.9% in the first quarter. US Bancorp DE now owns 4,185 shares of the business services provider’s stock worth $91,000 after buying an additional 606 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Kelly Services by 66.0% in the first quarter. PNC Financial Services Group Inc. now owns 6,038 shares of the business services provider’s stock worth $132,000 after buying an additional 2,401 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Kelly Services in the second quarter worth approximately $125,000. 77.36% of the stock is currently owned by hedge funds and other institutional investors.

Kelly Services Stock Down 1.2 %

Shares of NASDAQ:KELYA opened at $16.84 on Monday. Kelly Services, Inc. has a 52-week low of $13.41 and a 52-week high of $23.00. The stock has a market cap of $639.04 million, a P/E ratio of 84.20, a price-to-earnings-growth ratio of 0.78 and a beta of 1.12. The business’s 50 day moving average is $15.16 and its 200 day moving average is $17.70.

Kelly Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 7th. Shareholders of record on Wednesday, November 23rd will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $0.30 annualized dividend and a yield of 1.78%. Kelly Services’s dividend payout ratio (DPR) is presently 150.01%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KELYA. Noble Financial reduced their price target on Kelly Services to $25.00 in a report on Wednesday, November 16th. StockNews.com started coverage on Kelly Services in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Barrington Research dropped their price objective on Kelly Services from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday.

Kelly Services Profile

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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 direct-hire services in the areas of office, professional, light industrial, and contact center specialties.

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Institutional Ownership by Quarter for Kelly Services (NASDAQ:KELYA)

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