The Manufacturers Life Insurance Company Sells 720 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

The Manufacturers Life Insurance Company lessened its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 7.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,311 shares of the business services provider’s stock after selling 720 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Barrett Business Services were worth $349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BBSI. CWM LLC lifted its holdings in shares of Barrett Business Services by 12,014.3% in the second quarter. CWM LLC now owns 848 shares of the business services provider’s stock worth $28,000 after buying an additional 841 shares in the last quarter. Amalgamated Bank lifted its holdings 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 worth $31,000 after buying an additional 702 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Barrett Business Services in the third quarter worth about $34,000. Huntington National Bank purchased a new stake in shares of Barrett Business Services in the third quarter worth about $39,000. Finally, USA Financial Formulas purchased a new stake in shares of Barrett Business Services in the third quarter worth about $60,000. Institutional investors own 86.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BBSI shares. Barrington Research reissued an “outperform” rating and issued a $45.00 price target on shares of Barrett Business Services in a report on Wednesday, December 11th. StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Roth Mkm increased their price target 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.

Barrett Business Services Price Performance

Shares of BBSI opened at $43.57 on Monday. The firm’s 50 day simple moving average is $40.14 and its 200 day simple moving average is $36.67. The company has a market capitalization of $1.13 billion, a P/E ratio of 23.05, a P/E/G ratio of 1.46 and a beta of 1.42. Barrett Business Services, Inc. has a 1-year low of $27.06 and a 1-year high of $44.39.

Barrett Business Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, November 22nd. Barrett Business Services’s dividend payout ratio is currently 16.93%.

Insider Activity at Barrett Business Services

In other Barrett Business Services news, Director Thomas J. Carley sold 4,584 shares of Barrett Business Services stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.24, for a total transaction of $189,044.16. Following the transaction, the director now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas B. Cusick sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.41, for a total transaction of $130,230.00. Following the completion of the sale, the director now owns 27,776 shares of the company’s stock, valued at approximately $1,205,756.16. The trade was a 9.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by 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.