Denali Advisors LLC Trims Stake in Kelly Services, Inc. (NASDAQ:KELYA)

Denali Advisors LLC reduced its position in shares of Kelly Services, Inc. (NASDAQ:KELYAFree Report) by 61.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,800 shares of the business services provider’s stock after selling 9,100 shares during the period. Denali Advisors LLC’s holdings in Kelly Services were worth $125,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kelly Services by 165.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,054,370 shares of the business services provider’s stock worth $22,870,000 after acquiring an additional 656,552 shares during the last quarter. Comerica Bank bought a new stake in Kelly Services in the third quarter worth $10,485,000. Assenagon Asset Management S.A. lifted its stake in Kelly Services by 974.0% in the third quarter. Assenagon Asset Management S.A. now owns 375,458 shares of the business services provider’s stock worth $6,830,000 after purchasing an additional 340,498 shares during the last quarter. Candriam S.C.A. bought a new stake in Kelly Services in the first quarter worth $4,995,000. Finally, Millennium Management LLC bought a new stake in Kelly Services in the second quarter worth $5,531,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

Kelly Services Stock Down 0.0 %

Kelly Services stock opened at $25.04 on Monday. The company has a market capitalization of $883.66 million, a PE ratio of 25.55, a P/E/G ratio of 1.08 and a beta of 1.18. The firm has a fifty day simple moving average of $23.00 and a two-hundred day simple moving average of $20.92. Kelly Services, Inc. has a twelve month low of $15.53 and a twelve month high of $25.27.

Kelly Services (NASDAQ:KELYAGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.38. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.22 billion. Kelly Services had a net margin of 0.75% and a return on equity of 6.50%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. As a group, equities analysts expect that Kelly Services, Inc. will post 1.78 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, February 26th. Kelly Services’s payout ratio is 30.61%.

Insider Buying and Selling at Kelly Services

In related news, SVP Timothy L. Dupree sold 12,711 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $24.98, for a total transaction of $317,520.78. Following the transaction, the senior vice president now owns 32,392 shares in the company, valued at $809,152.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Timothy L. Dupree sold 12,711 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $24.98, for a total transaction of $317,520.78. Following the transaction, the senior vice president now owns 32,392 shares in the company, valued at $809,152.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Olivier Thirot sold 20,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $24.07, for a total transaction of $481,400.00. Following the transaction, the executive vice president now owns 174,793 shares in the company, valued at approximately $4,207,267.51. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.

About Kelly Services

(Free Report)

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.

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

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