The Manufacturers Life Insurance Company Has $2.02 Million Stock Position in CBIZ, Inc. (NYSE:CBZ)

The Manufacturers Life Insurance Company boosted its holdings in CBIZ, Inc. (NYSE:CBZ) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,279 shares of the business services provider’s stock after acquiring an additional 357 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of CBIZ worth $2,021,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital Research Global Investors lifted its holdings in shares of CBIZ by 309.4% in the first quarter. Capital Research Global Investors now owns 3,128,738 shares of the business services provider’s stock valued at $245,606,000 after purchasing an additional 2,364,545 shares in the last quarter. Vanguard Group Inc. lifted its stake in CBIZ by 36.3% during the 1st quarter. Vanguard Group Inc. now owns 3,705,090 shares of the business services provider’s stock valued at $290,850,000 after acquiring an additional 986,774 shares in the last quarter. Capital World Investors purchased a new position in CBIZ during the 1st quarter worth $40,590,000. Artemis Investment Management LLP bought a new stake in shares of CBIZ in the 1st quarter worth $17,148,000. Finally, Blair William & Co. IL grew its stake in shares of CBIZ by 134.3% in the 2nd quarter. Blair William & Co. IL now owns 305,016 shares of the business services provider’s stock worth $22,602,000 after acquiring an additional 174,825 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

CBIZ Stock Up 1.1 %

CBZ stock opened at $65.41 on Thursday. CBIZ, Inc. has a 1-year low of $49.15 and a 1-year high of $86.36. The stock has a market cap of $3.28 billion, a P/E ratio of 26.48 and a beta of 0.92. The stock’s fifty day simple moving average is $68.69 and its two-hundred day simple moving average is $73.87. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43.

CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.29). The company had revenue of $420.00 million for the quarter, compared to the consensus estimate of $430.38 million. CBIZ had a net margin of 7.12% and a return on equity of 14.58%. CBIZ’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. Analysts expect that CBIZ, Inc. will post 2.64 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CBZ shares. StockNews.com cut shares of CBIZ from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $86.00 in a research report on Monday, August 12th.

CBIZ Profile

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.