Principal Financial Group Inc. Decreases Position in Kelly Services, Inc. (NASDAQ:KELYA)

Principal Financial Group Inc. lowered its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 4.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 151,987 shares of the business services provider’s stock after selling 6,730 shares during the period. Principal Financial Group Inc. owned approximately 0.43% of Kelly Services worth $3,254,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Kelly Services in the second quarter worth approximately $30,000. Innealta Capital LLC bought a new stake in Kelly Services during the second quarter worth approximately $39,000. nVerses Capital LLC purchased a new stake in Kelly Services during the 2nd quarter valued at $47,000. Meeder Asset Management Inc. bought a new stake in Kelly Services in the second quarter worth about $51,000. Finally, SG Americas Securities LLC bought a new stake in shares of Kelly Services during the first quarter worth $125,000. Institutional investors own 76.34% of the company’s stock.

Insider Buying and Selling at Kelly Services

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

Kelly Services Stock Performance

Shares of KELYA stock opened at $13.92 on Friday. Kelly Services, Inc. has a one year low of $13.71 and a one year high of $25.27. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. The firm’s 50 day moving average price is $19.56 and its 200-day moving average price is $20.85. The firm has a market cap of $495.69 million, a P/E ratio of 11.96, a P/E/G ratio of 0.53 and a beta of 1.20.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $0.50 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. As a group, equities research analysts predict that Kelly Services, Inc. will post 2.07 EPS for the current year.

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Wednesday, November 20th. Kelly Services’s dividend payout ratio (DPR) is 26.09%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KELYA. StockNews.com downgraded Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Barrington Research cut their price objective on Kelly Services from $29.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday.

Kelly Services Company Profile

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.