Ameriprise Financial Inc. Has $1.26 Million Stake in Kelly Services, Inc. (NASDAQ:KELYA)

Ameriprise Financial Inc. reduced its position in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 49.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,023 shares of the business services provider's stock after selling 87,776 shares during the period. Ameriprise Financial Inc. owned about 0.25% of Kelly Services worth $1,255,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in KELYA. ARGA Investment Management LP increased its holdings in Kelly Services by 28.6% during the 4th quarter. ARGA Investment Management LP now owns 97,482 shares of the business services provider's stock worth $1,359,000 after purchasing an additional 21,672 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Kelly Services during the 4th quarter valued at approximately $5,343,000. Proficio Capital Partners LLC acquired a new stake in shares of Kelly Services during the fourth quarter worth approximately $201,000. Entropy Technologies LP bought a new stake in shares of Kelly Services in the fourth quarter worth $153,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Kelly Services in the fourth quarter worth $508,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on KELYA shares. Barrington Research reiterated an "outperform" rating and set a $25.00 price objective on shares of Kelly Services in a research note on Tuesday, May 20th. Wall Street Zen lowered shares of Kelly Services from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th.

Kelly Services Stock Performance

KELYA traded down $0.05 during trading hours on Wednesday, hitting $11.67. 151,157 shares of the stock were exchanged, compared to its average volume of 345,688. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.65. Kelly Services, Inc. has a 12 month low of $10.80 and a 12 month high of $23.81. The stock has a 50-day simple moving average of $11.84 and a 200-day simple moving average of $13.11. The stock has a market cap of $407.14 million, a price-to-earnings ratio of -194.47, a price-to-earnings-growth ratio of 0.43 and a beta of 0.96.

Kelly Services (NASDAQ:KELYA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The business services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.14). Kelly Services had a negative net margin of 0.01% and a positive return on equity of 6.56%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. Analysts anticipate that Kelly Services, Inc. will post 2.45 earnings per share for the current year.

Kelly Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Monday, May 19th. Kelly Services's payout ratio is -50.00%.

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.