The Manufacturers Life Insurance Company Buys 847 Shares of CBIZ, Inc. (CBZ)
The Manufacturers Life Insurance Company raised its stake in shares of CBIZ, Inc. (NYSE:CBZ) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,771 shares of the business services provider’s stock after purchasing an additional 847 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of CBIZ worth $596,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CBZ. BNP Paribas Arbitrage SA boosted its holdings in CBIZ by 147.0% during the second quarter. BNP Paribas Arbitrage SA now owns 9,637 shares of the business services provider’s stock valued at $145,000 after purchasing an additional 5,735 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in CBIZ by 2.6% during the first quarter. Ameriprise Financial Inc. now owns 13,710 shares of the business services provider’s stock valued at $186,000 after purchasing an additional 350 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in CBIZ during the second quarter valued at approximately $272,000. Legal & General Group Plc boosted its holdings in CBIZ by 49.6% during the second quarter. Legal & General Group Plc now owns 18,360 shares of the business services provider’s stock valued at $276,000 after purchasing an additional 6,091 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in CBIZ during the second quarter valued at approximately $306,000. 84.04% of the stock is currently owned by institutional investors.
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In other news, insider Chris Spurio sold 16,250 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $15.18, for a total value of $246,675.00. Following the transaction, the insider now directly owns 191,293 shares of the company’s stock, valued at approximately $2,903,827.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ware H. Grove sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $15.06, for a total value of $376,500.00. Following the completion of the transaction, the insider now directly owns 282,172 shares in the company, valued at $4,249,510.32. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.
A number of equities research analysts have weighed in on CBZ shares. Zacks Investment Research downgraded CBIZ from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. ValuEngine raised CBIZ from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, BidaskClub raised CBIZ from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th.
CBIZ, Inc. (NYSE CBZ) opened at $15.20 on Wednesday. The company has a market capitalization of $825.51, a P/E ratio of 18.35 and a beta of 0.85. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.39. CBIZ, Inc. has a 1-year low of $12.20 and a 1-year high of $17.25.
CBIZ (NYSE:CBZ) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.04). The business had revenue of $207.70 million during the quarter, compared to analyst estimates of $212.66 million. CBIZ had a return on equity of 8.94% and a net margin of 5.34%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 earnings per share. research analysts anticipate that CBIZ, Inc. will post 0.84 earnings per share for the current fiscal year.
CBIZ Company Profile
CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.
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