Principal Financial Group Inc. Purchases 3,960 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

Principal Financial Group Inc. grew its position in Barrett Business Services, Inc. (NASDAQ:BBSI) by 29.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,300 shares of the business services provider’s stock after purchasing an additional 3,960 shares during the quarter. Principal Financial Group Inc. owned approximately 0.07% of Barrett Business Services worth $649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC lifted its stake in shares of Barrett Business Services by 12,014.3% during the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after buying an additional 841 shares in the last quarter. Amalgamated Bank lifted its position in shares of Barrett Business Services by 300.0% in the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 702 shares in the last quarter. USA Financial Formulas bought a new position in shares of Barrett Business Services in the third quarter worth about $60,000. Nisa Investment Advisors LLC grew its position in shares of Barrett Business Services by 415.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,906 shares of the business services provider’s stock worth $95,000 after purchasing an additional 2,342 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Barrett Business Services by 300.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 2,460 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BBSI. Barrington Research upped their price target on Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Roth Mkm boosted their target price on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th.

Barrett Business Services Price Performance

NASDAQ BBSI opened at $42.76 on Friday. Barrett Business Services, Inc. has a 1-year low of $26.60 and a 1-year high of $43.29. The business has a 50 day simple moving average of $38.20 and a two-hundred day simple moving average of $35.34. The stock has a market capitalization of $1.11 billion, a PE ratio of 22.56, a P/E/G ratio of 1.41 and a beta of 1.39.

Barrett Business Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, November 22nd. Barrett Business Services’s dividend payout ratio (DPR) is presently 16.89%.

Insider Buying and Selling

In related news, Director Thomas J. Carley sold 4,584 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.24, for a total value of $189,044.16. Following the completion of the transaction, the director now owns 91,628 shares of the company’s stock, valued at approximately $3,778,738.72. This trade represents a 4.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Stephen Clabby purchased 1,635 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average price of $43.01 per share, with a total value of $70,321.35. Following the transaction, the director now owns 11,327 shares of the company’s stock, valued at $487,174.27. This represents a 16.87 % increase in their position. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by company insiders.

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.