Principal Financial Group Inc. Decreases Stake in Kelly Services, Inc. (NASDAQ:KELYA)

Principal Financial Group Inc. reduced its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,342 shares of the business services provider’s stock after selling 4,225 shares during the period. Principal Financial Group Inc. owned about 0.58% of Kelly Services worth $3,556,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of KELYA. Bank of New York Mellon Corp increased its stake in shares of Kelly Services by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 417,195 shares of the business services provider’s stock valued at $9,050,000 after buying an additional 2,941 shares during the period. American Century Companies Inc. boosted its holdings in Kelly Services by 26.0% in the first quarter. American Century Companies Inc. now owns 67,385 shares of the business services provider’s stock worth $1,462,000 after acquiring an additional 13,906 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Kelly Services by 16.9% during the first quarter. US Bancorp DE now owns 4,185 shares of the business services provider’s stock valued at $91,000 after purchasing an additional 606 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Kelly Services by 66.0% during the first quarter. PNC Financial Services Group Inc. now owns 6,038 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 2,401 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Kelly Services by 48.2% during the first quarter. MetLife Investment Management LLC now owns 18,311 shares of the business services provider’s stock valued at $397,000 after purchasing an additional 5,957 shares in the last quarter. 73.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on KELYA shares. Barrington Research upped their price target on Kelly Services from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, August 14th. StockNews.com lowered Kelly Services from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th.

Kelly Services Stock Performance

Shares of NASDAQ KELYA opened at $18.75 on Monday. The business’s 50 day moving average price is $17.94 and its 200-day moving average price is $17.30. Kelly Services, Inc. has a fifty-two week low of $13.41 and a fifty-two week high of $19.43. The company has a market cap of $663.66 million, a price-to-earnings ratio of 468.75, a PEG ratio of 0.88 and a beta of 1.11.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, August 10th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Kelly Services had a return on equity of 3.61% and a net margin of 0.03%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. Sell-side analysts predict that Kelly Services, Inc. will post 1.61 earnings per share for the current year.

Kelly Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, August 22nd. Kelly Services’s dividend payout ratio (DPR) is presently 750.00%.

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 placement services in the areas of office, professional, light industrial, and contact center specialties.