Kelly Services, Inc. (NASDAQ:KELYA) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,880 shares of the business services provider’s stock after selling 2,304 shares during the period. New York State Teachers Retirement System owned 0.16% of Kelly Services worth $1,208,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in Kelly Services by 165.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,054,370 shares of the business services provider’s stock worth $22,870,000 after purchasing an additional 656,552 shares during the last quarter. Comerica Bank acquired a new stake in Kelly Services during the third quarter worth about $10,485,000. Assenagon Asset Management S.A. increased its position in Kelly Services by 974.0% during the third quarter. Assenagon Asset Management S.A. now owns 375,458 shares of the business services provider’s stock worth $6,830,000 after purchasing an additional 340,498 shares during the last quarter. Candriam S.C.A. acquired a new stake in Kelly Services during the first quarter worth about $4,995,000. Finally, Millennium Management LLC acquired a new stake in Kelly Services during the second quarter worth about $5,531,000. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Kelly Services Trading Up 0.4 %

Kelly Services stock opened at $23.19 on Thursday. Kelly Services, Inc. has a 12-month low of $15.53 and a 12-month high of $25.27. The stock has a market cap of $818.38 million, a P/E ratio of 23.66, a PEG ratio of 1.00 and a beta of 1.18. The company has a 50-day moving average price of $23.80 and a 200 day moving average price of $21.42.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, February 15th. The business services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.38. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.22 billion. Kelly Services had a net margin of 0.75% and a return on equity of 6.50%. Kelly Services’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. As a group, analysts forecast that Kelly Services, Inc. will post 1.78 EPS for the current year.

Kelly Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Monday, February 26th. Kelly Services’s dividend payout ratio (DPR) is presently 30.61%.

Insiders Place Their Bets

In other Kelly Services news, EVP Olivier Thirot sold 20,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $24.07, for a total transaction of $481,400.00. Following the completion of the transaction, the executive vice president now owns 174,793 shares of the company’s stock, valued at $4,207,267.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Timothy L. Dupree sold 12,711 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $24.98, for a total value of $317,520.78. Following the completion of the transaction, the senior vice president now owns 32,392 shares of the company’s stock, valued at $809,152.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Olivier Thirot sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $24.07, for a total transaction of $481,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,793 shares of the company’s stock, valued at approximately $4,207,267.51. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.

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.