Legal & General Group Plc lifted its stake in TriNet Group Inc (NYSE:TNET) by 32.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,310 shares of the business services provider’s stock after acquiring an additional 4,682 shares during the quarter. Legal & General Group Plc’s holdings in TriNet Group were worth $652,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in shares of TriNet Group by 17.7% in the second quarter. Victory Capital Management Inc. now owns 5,417 shares of the business services provider’s stock worth $177,000 after acquiring an additional 813 shares during the last quarter. BNP Paribas Arbitrage SA increased 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. SG Americas Securities LLC acquired a new position in shares of TriNet Group in the second quarter worth $194,000. Sei Investments Co. increased its stake in shares of TriNet Group by 112.0% in the third quarter. Sei Investments Co. now owns 7,913 shares of the business services provider’s stock worth $266,000 after acquiring an additional 4,181 shares during the last quarter. Finally, ARP Americas LLC acquired a new position in shares of TriNet Group in the third quarter worth $286,000. 56.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of TriNet Group Inc (TNET) opened at $43.62 on Friday. The stock has a market cap of $3,000.00, a price-to-earnings ratio of 23.08 and a beta of 3.01. TriNet Group Inc has a fifty-two week low of $24.09 and a fifty-two week high of $45.25. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.00.
TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.30. The firm had revenue of $205.90 million during the quarter, compared to analysts’ expectations of $174.89 million. TriNet Group had a net margin of 4.15% and a return on equity of 156.96%. TriNet Group’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. analysts anticipate that TriNet Group Inc will post 1.77 EPS for the current fiscal year.
In other TriNet Group news, insider Michael P. Murphy sold 631 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $42.40, for a total transaction of $26,754.40. Following the completion of the sale, the insider now directly owns 12,553 shares in the company, valued at $532,247.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Burton M. Goldfield sold 17,809 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $43.52, for a total transaction of $775,047.68. Following the sale, the chief executive officer now owns 32,234 shares of the company’s stock, valued at $1,402,823.68. The disclosure for this sale can be found here. Insiders sold 142,163 shares of company stock valued at $5,925,247 over the last quarter. 42.40% of the stock is currently owned by corporate insiders.
A number of research firms have recently weighed in on TNET. BidaskClub downgraded shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Zacks Investment Research upgraded shares of TriNet Group from a “sell” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a report on Thursday, November 9th. Finally, Morgan Stanley upped their price objective on shares of TriNet Group from $31.00 to $32.00 and gave the stock an “underweight” rating in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $38.00.
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TriNet Group 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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