JPMorgan Chase & Co. lessened its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA – Free Report) by 48.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,257 shares of the business services provider’s stock after selling 26,105 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.08% of Kelly Services worth $584,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of KELYA. US Bancorp DE lifted its holdings in shares of Kelly Services by 9.3% during the third quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock worth $217,000 after purchasing an additional 866 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Kelly Services during the second quarter worth $30,000. Franklin Resources Inc. lifted its holdings in shares of Kelly Services by 9.3% during the third quarter. Franklin Resources Inc. now owns 22,362 shares of the business services provider’s stock worth $456,000 after purchasing an additional 1,905 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Kelly Services by 8.9% during the third quarter. Public Employees Retirement System of Ohio now owns 29,723 shares of the business services provider’s stock worth $636,000 after purchasing an additional 2,427 shares during the period. Finally, ClearAlpha Technologies LP lifted its holdings in shares of Kelly Services by 14.9% during the third quarter. ClearAlpha Technologies LP now owns 18,917 shares of the business services provider’s stock worth $405,000 after purchasing an additional 2,458 shares during the period. Institutional investors own 76.34% of the company’s stock.
Kelly Services Stock Performance
Shares of Kelly Services stock opened at $14.67 on Tuesday. The company has a market cap of $522.40 million, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.43 and a beta of 1.12. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. Kelly Services, Inc. has a 52 week low of $12.68 and a 52 week high of $25.27. The business has a 50 day moving average price of $13.99 and a 200-day moving average price of $18.20.
Kelly Services Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were paid a $0.075 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $0.30 annualized dividend and a yield of 2.04%. Kelly Services’s dividend payout ratio (DPR) is 26.09%.
Insiders Place Their Bets
In other Kelly Services news, SVP Daniel H. Malan purchased 3,500 shares of the stock in a transaction dated Wednesday, November 20th. The shares were bought at an average price of $13.88 per share, with a total value of $48,580.00. Following the completion of the transaction, the senior vice president now directly owns 95,906 shares in the company, valued at approximately $1,331,175.28. This trade represents a 3.79 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.90% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Barrington Research cut their price target on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, November 18th.
Read Our Latest Report on KELYA
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.
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