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

Principal Financial Group Inc. trimmed its position in Kelly Services, Inc. (NASDAQ:KELYA) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 151,987 shares of the business services provider’s stock after selling 6,730 shares during the period. Principal Financial Group Inc. owned about 0.43% of Kelly Services worth $3,254,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new position in Kelly Services in the 2nd quarter worth $30,000. Meeder Asset Management Inc. purchased a new stake in Kelly Services in the second quarter worth about $51,000. Quest Partners LLC bought a new position in shares of Kelly Services in the third quarter worth about $158,000. SG Americas Securities LLC purchased a new position in shares of Kelly Services during the 3rd quarter valued at about $196,000. Finally, Creative Planning bought a new position in shares of Kelly Services during the 3rd quarter valued at approximately $203,000. 76.34% of the stock is currently owned by institutional investors.

Insider Transactions at Kelly Services

In other news, SVP Daniel H. Malan purchased 3,500 shares of the business’s 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 acquisition, the senior vice president now directly owns 95,906 shares of the company’s stock, valued at $1,331,175.28. This represents a 3.79 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.90% of the company’s stock.

Kelly Services Trading Up 2.2 %

Shares of KELYA stock opened at $14.25 on Friday. 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 stock has a fifty day simple moving average of $15.27 and a two-hundred day simple moving average of $19.04. The firm has a market capitalization of $507.44 million, a PE ratio of 12.39, a PEG ratio of 0.55 and a beta of 1.12. Kelly Services, Inc. has a 52-week low of $12.68 and a 52-week high of $25.27.

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

Kelly Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Barrington Research lowered 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.

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.