Principal Financial Group Inc. Boosts Stake in CBIZ, Inc. (NYSE:CBZ)

Principal Financial Group Inc. boosted its holdings in CBIZ, Inc. (NYSE:CBZ) by 25.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,860 shares of the business services provider’s stock after acquiring an additional 5,717 shares during the quarter. Principal Financial Group Inc.’s holdings in CBIZ were worth $1,875,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of CBIZ by 1.2% in the second quarter. AQR Capital Management LLC now owns 14,960 shares of the business services provider’s stock valued at $1,109,000 after purchasing an additional 176 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of CBIZ by 1.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,235 shares of the business services provider’s stock worth $1,203,000 after acquiring an additional 185 shares during the period. Inspire Investing LLC increased its stake in CBIZ by 4.2% in the 2nd quarter. Inspire Investing LLC now owns 4,757 shares of the business services provider’s stock valued at $352,000 after purchasing an additional 190 shares in the last quarter. Covestor Ltd raised its holdings in CBIZ by 45.5% during the first quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock worth $56,000 after purchasing an additional 221 shares during the last quarter. Finally, US Bancorp DE boosted its position in CBIZ by 16.1% during the third quarter. US Bancorp DE now owns 1,796 shares of the business services provider’s stock worth $121,000 after purchasing an additional 249 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com downgraded CBIZ from a “hold” rating to a “sell” rating in a research note on Wednesday. Sidoti upgraded shares of CBIZ from a “neutral” rating to a “buy” rating and increased their price target for the company from $80.00 to $86.00 in a research report on Monday, August 12th.

CBIZ Stock Up 1.7 %

CBZ opened at $80.79 on Friday. The business’s fifty day simple moving average is $69.74 and its 200 day simple moving average is $73.07. CBIZ, Inc. has a 52 week low of $57.01 and a 52 week high of $86.36. The firm has a market cap of $4.05 billion, a P/E ratio of 34.23 and a beta of 0.91. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36.

CBIZ (NYSE:CBZ) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The business had revenue of $438.90 million during the quarter, compared to analyst estimates of $440.16 million. During the same quarter in the previous year, the business posted $0.66 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

About CBIZ

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.