Jane Street Group LLC Sells 34,920 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Jane Street Group LLC lessened its position in Kelly Services, Inc. (NASDAQ:KELYA) by 60.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,293 shares of the business services provider’s stock after selling 34,920 shares during the period. Jane Street Group LLC owned about 0.07% of Kelly Services worth $499,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new position in Kelly Services during the second quarter valued at approximately $30,000. Meeder Asset Management Inc. bought a new position in Kelly Services during the second quarter valued at approximately $51,000. Quest Partners LLC bought a new position in Kelly Services during the third quarter valued at approximately $158,000. SG Americas Securities LLC bought a new position in Kelly Services during the third quarter valued at approximately $196,000. Finally, Creative Planning bought a new position in Kelly Services during the third quarter valued at approximately $203,000. Institutional investors own 76.34% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research lowered their price objective on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, November 18th.

Kelly Services Stock Performance

KELYA opened at $14.25 on Monday. The stock has a market capitalization of $507.44 million, a price-to-earnings ratio of 12.39, a PEG ratio of 0.55 and a beta of 1.12. The company has a fifty day moving average of $15.27 and a 200 day moving average of $19.03. Kelly Services, Inc. has a fifty-two week low of $12.68 and a fifty-two week 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.

Kelly Services (NASDAQ:KELYA) last posted its earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.23). The company had revenue of $1.04 billion for 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 business’s revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. As a group, sell-side analysts forecast that Kelly Services, Inc. will post 1.93 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, November 20th. This represents a $0.30 annualized dividend and a yield of 2.11%. Kelly Services’s dividend payout ratio (DPR) is currently 26.09%.

Insider Buying and Selling at Kelly Services

In other Kelly Services news, SVP Daniel H. Malan acquired 3,500 shares of the stock in a transaction on 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 completion of the transaction, the senior vice president now directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.90% of the stock is owned by company insiders.

Kelly Services 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.