Segall Bryant & Hamill LLC Makes New Investment in Kelly Services, Inc. (NASDAQ:KELYA)

Segall Bryant & Hamill LLC purchased a new stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 99,096 shares of the business services provider’s stock, valued at approximately $2,122,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC bought a new stake in shares of Kelly Services during the 3rd quarter valued at about $158,000. Empowered Funds LLC grew its stake in Kelly Services by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 196,283 shares of the business services provider’s stock worth $4,202,000 after buying an additional 9,916 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new position in shares of Kelly Services in the 3rd quarter worth $243,000. US Bancorp DE raised its position in shares of Kelly Services by 9.3% during the 3rd quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock valued at $217,000 after buying an additional 866 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Kelly Services by 1,730.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider’s stock worth $5,011,000 after acquiring an additional 221,271 shares during the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barrington Research reduced their target price on Kelly Services from $29.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 18th. StockNews.com cut Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

Kelly Services Trading Up 3.4 %

Shares of KELYA opened at $14.40 on Friday. Kelly Services, Inc. has a fifty-two week low of $13.71 and a fifty-two week high of $25.27. The firm has a market cap of $512.78 million, a price-to-earnings ratio of 12.52, a PEG ratio of 0.55 and a beta of 1.20. The firm has a 50 day moving average price of $19.29 and a 200-day moving average price of $20.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share 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 during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, equities research analysts forecast that Kelly Services, Inc. will post 1.93 earnings per share for the current year.

Kelly Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be given a dividend of $0.075 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.30 annualized dividend and a yield of 2.08%. Kelly Services’s payout ratio is 26.09%.

Insiders Place Their Bets

In other news, SVP Daniel H. Malan acquired 3,500 shares of the stock in a transaction dated Wednesday, November 20th. The stock was purchased at an average cost of $13.88 per share, with a total value of $48,580.00. Following the completion of the purchase, the senior vice president now owns 95,906 shares in the company, valued at approximately $1,331,175.28. The trade was a 3.79 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.