Barrett Business Services, Inc. (NASDAQ:BBSI) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 29.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,300 shares of the business services provider’s stock after purchasing an additional 3,960 shares during the period. Principal Financial Group Inc.’s holdings in Barrett Business Services were worth $649,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in Barrett Business Services in the third quarter valued at approximately $34,000. Westside Investment Management Inc. purchased a new position in shares of Barrett Business Services in the 3rd quarter valued at about $34,000. Amalgamated Bank lifted its position in shares of Barrett Business Services by 300.0% during the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 702 shares during the period. Huntington National Bank purchased a new position in shares of Barrett Business Services in the third quarter valued at $39,000. Finally, USA Financial Formulas purchased a new stake in shares of Barrett Business Services in the third quarter valued at about $60,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Barrett Business Services Stock Performance

NASDAQ:BBSI opened at $42.81 on Monday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42. The stock has a 50-day simple moving average of $42.01 and a 200 day simple moving average of $37.71. Barrett Business Services, Inc. has a one year low of $27.06 and a one year high of $44.39.

Barrett Business Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a dividend of $0.08 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.75%. Barrett Business Services’s dividend payout ratio (DPR) is 16.93%.

Insider Buying and Selling at Barrett Business Services

In other news, Director Thomas B. Cusick sold 3,000 shares of Barrett Business Services stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.41, for a total value of $130,230.00. Following the transaction, the director now owns 27,776 shares of the company’s stock, valued at $1,205,756.16. The trade was a 9.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas J. Carley sold 4,584 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.24, for a total value of $189,044.16. Following the sale, the director now owns 91,628 shares of the company’s stock, valued at $3,778,738.72. This trade represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BBSI has been the subject of a number of recent research reports. StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Roth Mkm lifted their price target on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Barrington Research restated an “outperform” rating and set a $45.00 target price on shares of Barrett Business Services in a report on Wednesday, December 11th.

Barrett Business Services Profile

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.