Russell Investments Group Ltd. increased its position in shares of TriNet Group, Inc. (NYSE:TNET) by 644.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 265,053 shares of the business services provider’s stock after acquiring an additional 229,466 shares during the period. Russell Investments Group Ltd. owned approximately 0.38% of TriNet Group worth $8,911,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in TriNet Group by 8.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 213,960 shares of the business services provider’s stock worth $7,193,000 after purchasing an additional 16,135 shares in the last quarter. New York State Common Retirement Fund increased its stake in TriNet Group by 4.0% in the 3rd quarter. New York State Common Retirement Fund now owns 70,987 shares of the business services provider’s stock worth $2,387,000 after purchasing an additional 2,700 shares in the last quarter. Sei Investments Co. increased its stake in TriNet Group by 112.0% in the 3rd quarter. Sei Investments Co. now owns 7,913 shares of the business services provider’s stock worth $266,000 after purchasing an additional 4,181 shares in the last quarter. Prudential Financial Inc. increased its stake in TriNet Group by 10.6% in the 3rd quarter. Prudential Financial Inc. now owns 27,162 shares of the business services provider’s stock worth $914,000 after purchasing an additional 2,610 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in TriNet Group in the 3rd quarter worth about $3,573,000. 56.52% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the company. BidaskClub cut TriNet Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Zacks Investment Research raised TriNet Group from a “sell” rating to a “strong-buy” rating and set a $47.00 price target on the stock in a research note on Thursday, November 9th. J P Morgan Chase & Co cut TriNet Group from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $33.00 to $36.00 in a research note on Thursday, August 17th. Finally, Morgan Stanley cut TriNet Group from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $27.00 to $31.00 in a research note on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. TriNet Group presently has an average rating of “Hold” and an average target price of $38.00.
TriNet Group, Inc. (TNET) traded up $0.15 during trading hours on Thursday, reaching $43.80. The company’s stock had a trading volume of 316,200 shares, compared to its average volume of 303,018. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.00. TriNet Group, Inc. has a 52 week low of $23.91 and a 52 week high of $45.11. The stock has a market cap of $3,033.03, a PE ratio of 26.45 and a beta of 3.02.
TriNet Group (NYSE:TNET) last released its earnings results on Thursday, November 2nd. The business services provider reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.30. TriNet Group had a return on equity of 156.96% and a net margin of 4.15%. The company had revenue of $205.90 million for the quarter, compared to analysts’ expectations of $174.89 million. During the same quarter in the previous year, the business posted $0.29 EPS. The business’s revenue for the quarter was up 27.9% on a year-over-year basis. sell-side analysts forecast that TriNet Group, Inc. will post 1.77 EPS for the current year.
In other TriNet Group news, SVP Brady Mickelsen sold 4,744 shares of TriNet Group stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $42.73, for a total transaction of $202,711.12. Following the transaction, the senior vice president now owns 29,392 shares of the company’s stock, valued at approximately $1,255,920.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Burton M. Goldfield sold 4,492 shares of TriNet Group stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $35.05, for a total value of $157,444.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 131,540 shares of company stock worth $5,059,629. Company insiders own 42.40% of the company’s stock.
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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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