Today, Ameriprise Financial Inc. reached $4,387,000 position of Kelly Services Inc. (KELYA)

Today, Ameriprise Financial Inc. reached $4,387,000 position  of Kelly Services Inc. (KELYA)

Ameriprise Financial Inc. cut its stake in shares of Kelly Services Inc. (NASDAQ:KELYA) by 14.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 231,260 shares of the company’s stock after selling 37,499 shares during the period. Ameriprise Financial Inc. owned approximately 0.61% of Kelly Services worth $4,387,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Springbok Capital Management LLC raised its position in Kelly Services by 272.5% in the first quarter. Springbok Capital Management LLC now owns 6,996 shares of the company’s stock valued at $134,000 after buying an additional 5,118 shares during the last quarter. DIAM Co. Ltd. bought a new stake in Kelly Services during the second quarter worth about $139,000. Bank of Montreal Can bought a new stake in Kelly Services during the second quarter worth about $153,000. BNP Paribas Arbitrage SA raised its stake in Kelly Services by 109.3% in the second quarter. BNP Paribas Arbitrage SA now owns 9,272 shares of the company’s stock worth $176,000 after buying an additional 4,842 shares in the last quarter. Finally, KBC Group NV bought a new stake in Kelly Services during the second quarter worth about $278,000. Institutional investors own 64.77% of the company’s stock.

Shares of Kelly Services Inc. (NASDAQ:KELYA) traded up 0.21% during midday trading on Tuesday, hitting $18.83. The stock had a trading volume of 2,321 shares. Kelly Services Inc. has a one year low of $14.35 and a one year high of $20.98. The stock has a 50 day moving average of $19.01 and a 200-day moving average of $19.30. The company has a market cap of $717.29 million, a P/E ratio of 11.58 and a beta of 1.75.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.02. The business earned $1.38 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Kelly Services had a net margin of 1.14% and a return on equity of 7.03%. Kelly Services’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. Analysts forecast that Kelly Services Inc. will post $1.57 EPS for the current fiscal year.

Separately, Zacks Investment Research raised Kelly Services from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th.

In other news, Director B Joseph White sold 7,899 shares of the company’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $19.11, for a total value of $150,949.89. Following the completion of the sale, the director now owns 22,090 shares of the company’s stock, valued at $422,139.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Conrad L. Mallett, Jr. sold 1,792 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $19.55, for a total value of $35,033.60. Following the completion of the sale, the director now directly owns 14,351 shares of the company’s stock, valued at approximately $280,562.05. The disclosure for this sale can be found here. 16.10% of the stock is owned by insiders.

Kelly Services Company Profile

Kelly Services, Inc is a workforce solutions provider. The Company provides workforce solutions in over three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). It operates in seven segments: Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), APAC Commercial, APAC Professional and Technical (APAC PT), and Outsourcing and Consulting Group (OCG).

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