Prudential Financial Inc. raised its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 44.5% in the second quarter, HoldingsChannel.com reports. The fund owned 190,355 shares of the business services provider’s stock after buying an additional 58,588 shares during the quarter. Prudential Financial Inc.’s holdings in Kelly Services were worth $4,985,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. BNP Paribas Arbitrage SA lifted its position in Kelly Services by 95.3% in the first quarter. BNP Paribas Arbitrage SA now owns 7,377 shares of the business services provider’s stock worth $163,000 after purchasing an additional 3,600 shares during the period. SG Americas Securities LLC increased its position in shares of Kelly Services by 118.6% during the 1st quarter. SG Americas Securities LLC now owns 17,953 shares of the business services provider’s stock valued at $396,000 after purchasing an additional 9,742 shares during the last quarter. Comerica Bank increased its holdings in Kelly Services by 2.4% in the 1st quarter. Comerica Bank now owns 31,290 shares of the business services provider’s stock worth $709,000 after acquiring an additional 719 shares in the last quarter. Texas Permanent School Fund increased its holdings in Kelly Services by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 21,176 shares of the business services provider’s stock worth $467,000 after acquiring an additional 770 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Kelly Services by 18.6% in the 1st quarter. Victory Capital Management Inc. now owns 84,360 shares of the business services provider’s stock worth $1,861,000 after acquiring an additional 13,237 shares in the last quarter. Institutional investors own 66.67% of the company’s stock.

Shares of NASDAQ KELYA traded up $0.02 during trading hours on Friday, reaching $24.70. The stock had a trading volume of 3,141 shares, compared to its average volume of 199,868. The firm has a market cap of $956.09 million, a price-to-earnings ratio of 10.86 and a beta of 0.80. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.04. Kelly Services, Inc. has a fifty-two week low of $19.21 and a fifty-two week high of $28.91. The firm has a 50-day moving average of $26.37 and a 200-day moving average of $24.60.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.16. Kelly Services had a return on equity of 8.41% and a net margin of 2.09%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts predict that Kelly Services, Inc. will post 2.28 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Monday, August 19th. Kelly Services’s dividend payout ratio (DPR) is 13.22%.

In other news, VP Bhupendra C. Shah sold 1,161 shares of Kelly Services stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $64.41, for a total transaction of $74,780.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George S. Corona sold 29,110 shares of Kelly Services stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $25.18, for a total value of $732,989.80. Following the sale, the chief executive officer now directly owns 213,311 shares in the company, valued at $5,371,170.98. The disclosure for this sale can be found here. Insiders have sold 32,055 shares of company stock worth $856,687 in the last 90 days. Insiders own 7.20% of the company’s stock.

A number of analysts have weighed in on the company. ValuEngine lowered Kelly Services from a “hold” rating to a “sell” rating in a research note on Wednesday. Northcoast Research downgraded Kelly Services from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 28th. BidaskClub downgraded Kelly Services from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Zacks Investment Research cut Kelly Services from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Finally, Noble Financial initiated coverage on Kelly Services in a research note on Tuesday, July 30th. They issued an “outperform” rating and a $32.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. Kelly Services has an average rating of “Hold” and an average price target of $30.00.

Kelly Services Company Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions, and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.

See Also: Outstanding Shares and The Effect on Share Price

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Institutional Ownership by Quarter for Kelly Services (NASDAQ:KELYA)

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