The Manufacturers Life Insurance Company Lowers Position in Kforce Inc. (NASDAQ:KFRC)

The Manufacturers Life Insurance Company decreased its stake in shares of Kforce Inc. (NASDAQ:KFRC) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,166 shares of the business services provider’s stock after selling 342 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Kforce were worth $563,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KFRC. Dynamic Technology Lab Private Ltd purchased a new stake in Kforce in the 3rd quarter worth $1,114,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Kforce by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 719,163 shares of the business services provider’s stock worth $44,193,000 after purchasing an additional 17,087 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Kforce in the third quarter worth about $302,000. Advisors Asset Management Inc. boosted its stake in Kforce by 197.3% during the third quarter. Advisors Asset Management Inc. now owns 2,396 shares of the business services provider’s stock valued at $147,000 after buying an additional 1,590 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Kforce during the 3rd quarter worth approximately $695,000. 92.77% of the stock is owned by hedge funds and other institutional investors.

Kforce Stock Up 0.8 %

NASDAQ KFRC opened at $59.78 on Friday. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. Kforce Inc. has a 52 week low of $52.96 and a 52 week high of $74.79. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 20.61 and a beta of 0.88. The company has a fifty day moving average of $58.42 and a two-hundred day moving average of $61.51.

Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Kforce had a net margin of 3.86% and a return on equity of 33.50%. The firm had revenue of $353.30 million during the quarter, compared to analysts’ expectations of $352.19 million. During the same period in the previous year, the company earned $0.90 EPS. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts predict that Kforce Inc. will post 2.68 earnings per share for the current year.

Kforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, December 6th. Kforce’s payout ratio is currently 52.41%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KFRC. Sidoti raised shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a report on Tuesday, October 15th. StockNews.com upgraded shares of Kforce from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. Finally, Truist Financial lowered their price target on shares of Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a report on Tuesday, October 29th.

About Kforce

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.