Nationwide Fund Advisors lifted its holdings in TriNet Group, Inc. (NYSE:TNET) by 11.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 69,707 shares of the business services provider’s stock after acquiring an additional 7,304 shares during the quarter. Nationwide Fund Advisors owned 0.10% of TriNet Group worth $2,282,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in TNET. Vanguard Group Inc. lifted its holdings in shares of TriNet Group by 11.0% in the 1st quarter. Vanguard Group Inc. now owns 4,228,957 shares of the business services provider’s stock worth $122,217,000 after acquiring an additional 418,005 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in TriNet Group during the 1st quarter valued at $6,194,000. Carleon Capital Partners LLC bought a new stake in TriNet Group during the 2nd quarter valued at $7,946,000. Morgan Stanley raised its holdings in TriNet Group by 85.9% during the 1st quarter. Morgan Stanley now owns 257,711 shares of the business services provider’s stock valued at $7,447,000 after buying an additional 119,097 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in TriNet Group during the 2nd quarter valued at $3,481,000. Hedge funds and other institutional investors own 54.58% of the company’s stock.
In related news, Director Martin Babinec sold 36,500 shares of TriNet Group stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $34.91, for a total value of $1,274,215.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Burton M. Goldfield sold 2,694 shares of TriNet Group stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $33.94, for a total value of $91,434.36. Following the completion of the sale, the chief executive officer now owns 31,225 shares of the company’s stock, valued at $1,059,776.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 357,983 shares of company stock valued at $13,172,357. Corporate insiders own 42.40% of the company’s stock.
TriNet Group, Inc. (NYSE:TNET) opened at 33.49 on Friday. TriNet Group, Inc. has a one year low of $17.78 and a one year high of $41.58. The firm has a 50-day moving average of $34.59 and a 200 day moving average of $32.82. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 22.51 and a beta of 2.89.
TriNet Group (NYSE:TNET) last released its earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.18. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The business had revenue of $201.01 million during the quarter, compared to the consensus estimate of $168.27 million. During the same period last year, the company earned $0.27 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts predict that TriNet Group, Inc. will post $1.49 earnings per share for the current fiscal year.
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TNET has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of TriNet Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th. Zacks Investment Research upgraded shares of TriNet Group from a “hold” rating to a “strong-buy” rating and set a $45.00 price target for the company in a report on Saturday, August 5th. Morgan Stanley lowered shares of TriNet Group from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $27.00 to $31.00 in a report on Tuesday, August 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $44.00 price target (up from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Finally, J P Morgan Chase & Co lowered shares of TriNet Group from a “neutral” rating to an “underweight” rating and upped their price target for the company from $33.00 to $36.00 in a report on Thursday, August 17th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $37.40.
TriNet Group Company Profile
TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as multi-state payroll processing and tax administration, employee benefits programs, including health insurance and retirement plans, workers’ compensation insurance and claims management, employment and benefit law compliance, and other services.
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