Principal Financial Group Inc. Acquires 2,684 Shares of CBIZ, Inc. (NYSE:CBZ)

Principal Financial Group Inc. increased its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 13.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,143 shares of the business services provider’s stock after buying an additional 2,684 shares during the quarter. Principal Financial Group Inc.’s holdings in CBIZ were worth $1,641,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Whittier Trust Co. bought a new position in shares of CBIZ in the first quarter worth about $54,000. Covestor Ltd increased its position in CBIZ by 45.5% during the 1st quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock worth $56,000 after purchasing an additional 221 shares in the last quarter. Assetmark Inc. lifted its stake in CBIZ by 24.8% in the 4th quarter. Assetmark Inc. now owns 905 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 180 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in CBIZ in the fourth quarter valued at approximately $63,000. Finally, Fortis Group Advisors LLC grew its stake in shares of CBIZ by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 1,750 shares of the business services provider’s stock worth $110,000 after buying an additional 875 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CBZ shares. StockNews.com cut CBIZ from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Sidoti upgraded CBIZ from a “neutral” rating to a “buy” rating and increased their target price for the company from $80.00 to $86.00 in a research report on Monday, August 12th.

CBIZ Stock Up 2.4 %

NYSE:CBZ opened at $66.93 on Friday. CBIZ, Inc. has a one year low of $49.15 and a one year high of $86.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $3.35 billion, a PE ratio of 27.10 and a beta of 0.92. The firm’s 50 day simple moving average is $73.86 and its 200 day simple moving average is $75.10.

CBIZ (NYSE:CBZ) last issued its quarterly earnings data 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 business had revenue of $420.00 million during the quarter, compared to the consensus estimate of $430.38 million. CBIZ had a return on equity of 14.58% and a net margin of 7.12%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. On average, research analysts anticipate that CBIZ, Inc. will post 2.64 earnings per share for the current year.

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.