Allianz Asset Management AG bought a new position in Barrett Business Services, Inc. (NASDAQ:BBSI) during the fourth quarter, Holdings Channel reports. The institutional investor bought 4,661 shares of the company’s stock, valued at approximately $299,000.
Other hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in Barrett Business Services by 1.9% in the third quarter. PNC Financial Services Group Inc. now owns 5,267 shares of the company’s stock worth $262,000 after buying an additional 100 shares during the period. Russell Investments Group Ltd. acquired a new stake in Barrett Business Services during the fourth quarter worth about $1,057,000. James Investment Research Inc. acquired a new stake in Barrett Business Services during the third quarter worth about $999,000. Wells Fargo & Company MN increased its stake in Barrett Business Services by 119.0% in the third quarter. Wells Fargo & Company MN now owns 32,913 shares of the company’s stock worth $1,632,000 after buying an additional 17,884 shares during the period. Finally, Moors & Cabot Inc. increased its stake in Barrett Business Services by 1.0% in the third quarter. Moors & Cabot Inc. now owns 42,240 shares of the company’s stock worth $2,099,000 after buying an additional 406 shares during the period. 66.92% of the stock is owned by hedge funds and other institutional investors.
Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) opened at 52.04 on Monday. The firm has a market cap of $377.34 million, a P/E ratio of 20.41 and a beta of 1.17. Barrett Business Services, Inc. has a 52-week low of $26.58 and a 52-week high of $66.93. The company’s 50-day moving average is $59.42 and its 200-day moving average is $55.62.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 14th. Investors of record on Monday, February 27th were issued a dividend of $0.25 per share. This is a positive change from Barrett Business Services’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Thursday, February 23rd. Barrett Business Services’s payout ratio is presently 29.53%.
In related news, Director Thomas J. Carley purchased 3,002 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was acquired at an average price of $52.30 per share, for a total transaction of $157,004.60. Following the transaction, the director now directly owns 32,577 shares of the company’s stock, valued at approximately $1,703,777.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.20% of the stock is owned by insiders.
Barrett Business Services Company Profile
Barrett Business Services, Inc (BBSI) is a provider of business management solutions for small and mid-sized companies. The Company has developed a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.
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