Kelly Services, Inc. (NASDAQ:KELYA) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 22.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 762,543 shares of the business services provider’s stock after selling 225,234 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.14% of Kelly Services worth $16,326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD acquired a new position in Kelly Services in the 1st quarter valued at about $225,000. Assenagon Asset Management S.A. raised its stake in Kelly Services by 178.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 155,604 shares of the business services provider’s stock valued at $3,331,000 after purchasing an additional 99,699 shares during the last quarter. Bailard Inc. raised its stake in Kelly Services by 6.9% in the 2nd quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock valued at $233,000 after purchasing an additional 700 shares during the last quarter. Innealta Capital LLC acquired a new position in Kelly Services in the 2nd quarter valued at about $39,000. Finally, nVerses Capital LLC acquired a new position in Kelly Services in the 2nd quarter valued at about $47,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research cut their target price on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, November 18th.

Insider Transactions at Kelly Services

In other news, SVP Daniel H. Malan bought 3,500 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was acquired at an average price of $13.88 per share, for a total transaction of $48,580.00. Following the acquisition, the senior vice president now owns 95,906 shares of the company’s stock, valued at $1,331,175.28. This trade represents a 3.79 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.90% of the company’s stock.

Kelly Services Stock Up 0.9 %

KELYA opened at $14.33 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $510.29 million, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.57 and a beta of 1.12. The business has a 50-day moving average of $17.97 and a two-hundred day moving average of $20.16. Kelly Services, Inc. has a 12 month low of $13.71 and a 12 month high of $25.27.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.23). The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 EPS. On average, research analysts expect that Kelly Services, Inc. will post 1.93 earnings per share for the current year.

Kelly Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Wednesday, November 20th. Kelly Services’s payout ratio is currently 26.09%.

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.