The Manufacturers Life Insurance Company lowered its stake in shares of TrueBlue, Inc. (NYSE:TBI) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,968 shares of the business services provider’s stock after selling 566 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of TrueBlue worth $848,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TBI. BlackRock Inc. boosted its stake in TrueBlue by 50,858.0% in the 1st quarter. BlackRock Inc. now owns 5,165,614 shares of the business services provider’s stock worth $141,280,000 after buying an additional 5,155,477 shares during the last quarter. Vanguard Group Inc. boosted its stake in TrueBlue by 16.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,519,856 shares of the business services provider’s stock worth $119,777,000 after buying an additional 627,033 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in TrueBlue by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,092,140 shares of the business services provider’s stock worth $55,441,000 after buying an additional 24,233 shares during the last quarter. Alliancebernstein L.P. boosted its stake in TrueBlue by 2.6% in the 2nd quarter. Alliancebernstein L.P. now owns 1,380,711 shares of the business services provider’s stock worth $36,589,000 after buying an additional 35,040 shares during the last quarter. Finally, FMR LLC boosted its stake in TrueBlue by 16.1% in the 2nd quarter. FMR LLC now owns 1,209,465 shares of the business services provider’s stock worth $32,051,000 after buying an additional 168,165 shares during the last quarter. 91.46% of the stock is currently owned by institutional investors and hedge funds.

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In other news, EVP James E. Defebaugh sold 7,500 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $28.16, for a total value of $211,200.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Wayne W. Larkin sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $23.00, for a total value of $230,000.00. Following the completion of the transaction, the executive vice president now owns 52,061 shares in the company, valued at $1,197,403. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,485 shares of company stock worth $1,343,071. Company insiders own 2.00% of the company’s stock.

TBI has been the topic of a number of research analyst reports. TheStreet lowered TrueBlue from a “b-” rating to a “c+” rating in a research note on Friday, August 18th. Robert W. Baird reissued a “hold” rating and issued a $25.00 price target on shares of TrueBlue in a research note on Friday, October 6th. ValuEngine raised TrueBlue from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research lowered TrueBlue from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Finally, BMO Capital Markets reissued a “hold” rating and issued a $23.00 price target on shares of TrueBlue in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $26.00.

TrueBlue, Inc. (NYSE:TBI) opened at $27.50 on Thursday. The company has a market capitalization of $1,158.12, a PE ratio of 15.64 and a beta of 2.37. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.20. TrueBlue, Inc. has a twelve month low of $19.30 and a twelve month high of $28.70.

TrueBlue (NYSE:TBI) last released its quarterly earnings data on Monday, October 30th. The business services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $660.78 million for the quarter, compared to the consensus estimate of $651.91 million. TrueBlue had a return on equity of 14.05% and a net margin of 2.22%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.70 EPS. equities research analysts anticipate that TrueBlue, Inc. will post 1.7 earnings per share for the current year.

TrueBlue announced that its Board of Directors has approved a stock repurchase plan on Monday, October 30th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

About TrueBlue

TrueBlue, Inc is a provider of specialized workforce solutions. The Company is engaged in providing staffing, on-site workforce management and recruitment process outsourcing services. The Company operates through three segments: PeopleReady, PeopleManagement and PeopleScout. Its PeopleReady segment provides blue-collar contingent staffing through the PeopleReady service line.

Institutional Ownership by Quarter for TrueBlue (NYSE:TBI)

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