Corebridge Financial Inc. Trims Holdings in CBIZ, Inc. (NYSE:CBZ)

Corebridge Financial Inc. reduced its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 7.0% during the 4th quarter, HoldingsChannel reports. The firm owned 23,826 shares of the business services provider’s stock after selling 1,799 shares during the period. Corebridge Financial Inc.’s holdings in CBIZ were worth $1,950,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of CBIZ by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 525,330 shares of the business services provider’s stock worth $35,349,000 after buying an additional 9,872 shares during the last quarter. Citigroup Inc. grew its stake in shares of CBIZ by 205.1% in the 3rd quarter. Citigroup Inc. now owns 53,204 shares of the business services provider’s stock valued at $3,580,000 after purchasing an additional 35,768 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of CBIZ by 26.6% in the third quarter. Cerity Partners LLC now owns 13,636 shares of the business services provider’s stock valued at $918,000 after purchasing an additional 2,861 shares during the period. FMR LLC raised its stake in shares of CBIZ by 27.4% during the third quarter. FMR LLC now owns 594,660 shares of the business services provider’s stock worth $40,015,000 after purchasing an additional 127,822 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in shares of CBIZ by 16.7% during the third quarter. Glenmede Trust Co. NA now owns 4,425 shares of the business services provider’s stock worth $298,000 after purchasing an additional 633 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CBIZ

In related news, Director Benaree Pratt Wiley sold 6,526 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $71.75, for a total value of $468,240.50. Following the completion of the sale, the director now owns 41,759 shares in the company, valued at $2,996,208.25. This trade represents a 13.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.40% of the company’s stock.

CBIZ Stock Up 1.5 %

CBIZ stock opened at $76.99 on Wednesday. The stock’s 50 day moving average price is $79.93 and its 200 day moving average price is $76.97. The company has a market cap of $4.14 billion, a PE ratio of 32.62 and a beta of 0.99. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49. CBIZ, Inc. has a 1-year low of $62.66 and a 1-year high of $90.13.

Analysts Set New Price Targets

CBZ has been the subject of a number of analyst reports. William Blair restated an “outperform” rating on shares of CBIZ in a research report on Thursday, February 27th. StockNews.com cut shares of CBIZ from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th.

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.