The Manufacturers Life Insurance Company Acquires Shares of 24,139 CBIZ, Inc. $CBZ

The Manufacturers Life Insurance Company bought a new position in shares of CBIZ, Inc. (NYSE:CBZ) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 24,139 shares of the business services provider’s stock, valued at approximately $774,000.

A number of other hedge funds also recently modified their holdings of CBZ. Northwestern Mutual Wealth Management Co. acquired a new position in CBIZ in the second quarter valued at about $27,000. Caitong International Asset Management Co. Ltd raised its position in shares of CBIZ by 377.8% in the 3rd 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. Strategic Wealth Investment Group LLC bought a new stake in shares of CBIZ during the 2nd quarter worth approximately $37,000. EverSource Wealth Advisors LLC lifted its holdings in shares of CBIZ by 667.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,512 shares of the business services provider’s stock worth $41,000 after acquiring an additional 1,315 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of CBIZ during the 3rd quarter worth approximately $42,000. Institutional investors own 87.44% of the company’s stock.

CBIZ Stock Performance

Shares of CBIZ stock opened at $54.86 on Friday. The company’s 50 day moving average price is $47.78 and its two-hundred day moving average price is $36.09. The firm has a market capitalization of $2.98 billion, a P/E ratio of 25.64, a P/E/G ratio of 1.15 and a beta of 0.92. CBIZ, Inc. has a fifty-two week low of $24.29 and a fifty-two week high of $60.19. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.47.

CBIZ (NYSE:CBZ) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.19. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.The business had revenue of $682.21 million for the quarter, compared to analyst estimates of $697.96 million. During the same quarter in the previous year, the company posted $0.95 EPS. CBIZ’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities analysts forecast that CBIZ, Inc. will post 4.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

About CBIZ

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.