The Manufacturers Life Insurance Company Takes Position in CBIZ, Inc. $CBZ

The Manufacturers Life Insurance Company purchased a new position in CBIZ, Inc. (NYSE:CBZ) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 24,139 shares of the business services provider’s stock, valued at approximately $774,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Balyasny Asset Management L.P. grew its position in CBIZ by 4.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,969 shares of the business services provider’s stock valued at $356,000 after purchasing an additional 230 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in CBIZ by 0.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,529 shares of the business services provider’s stock worth $2,117,000 after buying an additional 235 shares during the last quarter. Corient Private Wealth LLC raised its holdings in CBIZ by 4.4% during the second quarter. Corient Private Wealth LLC now owns 9,747 shares of the business services provider’s stock worth $694,000 after buying an additional 408 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of CBIZ by 10.5% in the first quarter. PNC Financial Services Group Inc. now owns 4,540 shares of the business services provider’s stock valued at $122,000 after buying an additional 430 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of CBIZ by 377.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 559 shares of the business services provider’s stock valued at $30,000 after buying an additional 442 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

CBIZ Price Performance

Shares of NYSE:CBZ opened at $54.86 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.74. The stock has a market cap of $2.98 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.15 and a beta of 0.92. The stock’s fifty day simple moving average is $47.78 and its two-hundred day simple moving average is $36.09. CBIZ, Inc. has a 1-year low of $24.29 and a 1-year high of $60.19.

CBIZ (NYSE:CBZ) last announced its earnings results on Wednesday, July 29th. The business services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.72 by $0.19. CBIZ had a net margin of 4.73% and a return on equity of 12.33%. The company had revenue of $682.21 million during the quarter, compared to the consensus estimate of $697.96 million. During the same quarter in the prior year, the company posted $0.95 earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis. As a group, analysts forecast that CBIZ, Inc. will post 4.1 EPS for the current fiscal year.

Analyst Ratings Changes

CBZ has been the subject of several recent research reports. US Capital Advisors set a $55.00 target price on shares of CBIZ in a research report on Thursday, July 30th. CJS Securities cut shares of CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price target on the stock. in a research report on Thursday, July 30th. Weiss Ratings upgraded CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Barrington Research began coverage on CBIZ in a report on Wednesday, June 24th. They set an “outperform” rating and a $45.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.50.

CBIZ Company Profile

CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.