JPMorgan Chase & Co. Sells 26,105 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

JPMorgan Chase & Co. decreased its holdings in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 48.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 27,257 shares of the business services provider's stock after selling 26,105 shares during the period. JPMorgan Chase & Co. owned approximately 0.08% of Kelly Services worth $584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in shares of Kelly Services in the second quarter worth about $1,582,000. Hsbc Holdings PLC lifted its position in Kelly Services by 9.7% during the 2nd quarter. Hsbc Holdings PLC now owns 30,411 shares of the business services provider's stock worth $648,000 after acquiring an additional 2,683 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Kelly Services by 6.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 70,871 shares of the business services provider's stock worth $1,517,000 after acquiring an additional 4,561 shares during the period. Marshall Wace LLP purchased a new stake in shares of Kelly Services during the second quarter valued at approximately $531,000. Finally, Squarepoint Ops LLC lifted its position in shares of Kelly Services by 38.3% during the second quarter. Squarepoint Ops LLC now owns 17,408 shares of the business services provider's stock worth $373,000 after purchasing an additional 4,822 shares in the last quarter. 76.34% of the stock is owned by institutional investors and hedge funds.

Kelly Services Trading Down 0.4 %

Shares of NASDAQ KELYA traded down $0.05 during mid-day trading on Friday, hitting $14.14. 120,345 shares of the company traded hands, compared to its average volume of 322,847. The business has a 50 day moving average of $14.00 and a two-hundred day moving average of $18.09. The stock has a market capitalization of $503.53 million, a price-to-earnings ratio of 12.29, a PEG ratio of 0.42 and a beta of 1.12. Kelly Services, Inc. has a 1 year low of $12.68 and a 1 year high of $25.27. 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 (NASDAQ:KELYA - Get Free Report) last announced its earnings results on Thursday, November 7th. The business services provider reported $0.21 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 firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business earned $0.50 earnings per share. The business's quarterly revenue was down 7.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Kelly Services, Inc. will post 1.93 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.12%. The ex-dividend date was Wednesday, November 20th. Kelly Services's dividend payout ratio (DPR) is currently 26.09%.

Wall Street Analyst Weigh In

Separately, Barrington Research dropped their price target on shares of Kelly Services from $29.00 to $25.00 and set an "outperform" rating on the stock in a research note on Monday, November 18th.

Insider Activity

In related news, SVP Daniel H. Malan acquired 3,500 shares of the company's stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $13.88 per share, for a total transaction of $48,580.00. Following the purchase, the senior vice president now owns 95,906 shares in the company, valued at $1,331,175.28. This represents a 3.79 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.90% of the company's stock.

About Kelly Services

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.