Thrivent Financial for Lutherans Raises Stake in Barrett Business Services, Inc. (NASDAQ:BBSI)

Thrivent Financial for Lutherans raised its position in Barrett Business Services, Inc. (NASDAQ:BBSI) by 272.7% in the fourth quarter, Holdings Channel reports. The fund owned 1,631,644 shares of the business services provider’s stock after buying an additional 1,193,839 shares during the period. Thrivent Financial for Lutherans owned approximately 0.06% of Barrett Business Services worth $70,879,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of Barrett Business Services by 29.7% during the 3rd quarter. Principal Financial Group Inc. now owns 17,300 shares of the business services provider’s stock worth $649,000 after buying an additional 3,960 shares during the last quarter. Huntington National Bank purchased a new stake in shares of Barrett Business Services during the 3rd quarter worth approximately $39,000. Quest Partners LLC lifted its position in shares of Barrett Business Services by 5.6% during the 3rd quarter. Quest Partners LLC now owns 18,998 shares of the business services provider’s stock worth $713,000 after buying an additional 1,012 shares during the last quarter. Pathstone Holdings LLC lifted its position in shares of Barrett Business Services by 3.1% during the 3rd quarter. Pathstone Holdings LLC now owns 53,174 shares of the business services provider’s stock worth $1,995,000 after buying an additional 1,595 shares during the last quarter. Finally, Foundry Partners LLC lifted its position in shares of Barrett Business Services by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 180,995 shares of the business services provider’s stock worth $6,789,000 after buying an additional 1,735 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on BBSI shares. Barrington Research restated an “outperform” rating and set a $45.00 price objective on shares of Barrett Business Services in a research report on Wednesday, March 12th. StockNews.com upgraded shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Friday, March 7th.

Barrett Business Services Price Performance

Shares of Barrett Business Services stock opened at $39.86 on Wednesday. The firm’s fifty day simple moving average is $41.77 and its 200-day simple moving average is $40.40. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 1.21 and a beta of 1.31. Barrett Business Services, Inc. has a 12 month low of $28.42 and a 12 month high of $44.97.

Barrett Business Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.08 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.80%. Barrett Business Services’s payout ratio is 16.08%.

Barrett Business Services Company 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.