Principal Financial Group Inc. Buys 5,049 Shares of TriNet Group, Inc. (TNET)

Principal Financial Group Inc. raised its stake in TriNet Group, Inc. (NYSE:TNET) by 21.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,146 shares of the business services provider’s stock after acquiring an additional 5,049 shares during the period. Principal Financial Group Inc.’s holdings in TriNet Group were worth $921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new stake in shares of TriNet Group in the first quarter worth $105,000. Envestnet Asset Management Inc. grew its stake in shares of TriNet Group by 13.3% in the first quarter. Envestnet Asset Management Inc. now owns 4,101 shares of the business services provider’s stock worth $119,000 after acquiring an additional 483 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of TriNet Group by 18.6% in the first quarter. Victory Capital Management Inc. now owns 4,604 shares of the business services provider’s stock worth $133,000 after acquiring an additional 723 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of TriNet Group in the first quarter worth $153,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of TriNet Group by 596.6% in the second quarter. BNP Paribas Arbitrage SA now owns 5,705 shares of the business services provider’s stock worth $187,000 after acquiring an additional 4,886 shares during the last quarter. 54.58% of the stock is currently owned by hedge funds and other institutional investors.

In other TriNet Group news, CEO Burton M. Goldfield sold 13,317 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $32.91, for a total transaction of $438,262.47. Following the sale, the chief executive officer now owns 31,225 shares in the company, valued at approximately $1,027,614.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Burton M. Goldfield sold 4,492 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $35.05, for a total value of $157,444.60. Following the sale, the chief executive officer now owns 29,482 shares in the company, valued at approximately $1,033,344.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 357,983 shares of company stock worth $13,172,357. 41.80% of the stock is owned by company insiders.

TriNet Group, Inc. (TNET) opened at 34.79 on Wednesday. The stock’s 50 day moving average price is $34.71 and its 200-day moving average price is $32.73. The company has a market capitalization of $2.41 billion, a P/E ratio of 23.38 and a beta of 2.89. TriNet Group, Inc. has a one year low of $17.78 and a one year high of $41.58.

TriNet Group (NYSE:TNET) last announced its earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $201.01 million for the quarter, compared to the consensus estimate of $168.27 million. During the same period in the previous year, the business earned $0.27 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts forecast that TriNet Group, Inc. will post $1.49 EPS for the current year.

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A number of research analysts have recently issued reports on TNET shares. Morgan Stanley downgraded 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. BidaskClub downgraded TriNet Group from a “buy” rating to a “hold” rating in a report on Thursday, September 14th. Stifel Nicolaus reaffirmed 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. J P Morgan Chase & Co downgraded 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. Finally, Zacks Investment Research downgraded TriNet Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 21st. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. TriNet Group has a consensus rating of “Hold” and an average target price of $37.40.

About TriNet Group

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.

Institutional Ownership by Quarter for TriNet Group (NYSE:TNET)

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