Prudential Financial Inc. Increases Stake in TriNet Group Inc (NYSE:TNET)

Prudential Financial Inc. grew its stake in shares of TriNet Group Inc (NYSE:TNET) by 3.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 109,126 shares of the business services provider’s stock after purchasing an additional 3,286 shares during the quarter. Prudential Financial Inc.’s holdings in TriNet Group were worth $7,399,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Hilton Capital Management LLC bought a new position in shares of TriNet Group during the first quarter worth $79,000. NumerixS Investment Technologies Inc purchased a new position in TriNet Group during the first quarter valued at $130,000. Advisor Group Inc. grew its stake in TriNet Group by 5.2% during the second quarter. Advisor Group Inc. now owns 3,158 shares of the business services provider’s stock valued at $215,000 after acquiring an additional 155 shares in the last quarter. ARP Americas LP bought a new stake in TriNet Group in the 1st quarter valued at $209,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in TriNet Group by 19.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,626 shares of the business services provider’s stock valued at $217,000 after acquiring an additional 587 shares during the last quarter. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have commented on TNET. ValuEngine cut shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Zacks Investment Research upgraded TriNet Group from a “sell” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $60.70.

In other TriNet Group news, CEO Burton M. Goldfield sold 8,488 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $68.47, for a total transaction of $581,173.36. Following the sale, the chief executive officer now directly owns 240,060 shares of the company’s stock, valued at $16,436,908.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Burton M. Goldfield sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $67.86, for a total value of $407,160.00. Following the sale, the chief executive officer now directly owns 319,973 shares in the company, valued at $21,713,367.78. The disclosure for this sale can be found here. Insiders sold 141,990 shares of company stock worth $9,844,243 in the last 90 days. 37.00% of the stock is currently owned by company insiders.

NYSE TNET traded up $1.01 during trading on Wednesday, hitting $63.36. 4,454 shares of the stock traded hands, compared to its average volume of 298,695. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.87. TriNet Group Inc has a 12-month low of $38.74 and a 12-month high of $76.92. The firm has a 50-day simple moving average of $69.14 and a 200-day simple moving average of $65.22. The company has a market capitalization of $4.45 billion, a P/E ratio of 24.33 and a beta of 1.89.

TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.70. TriNet Group had a return on equity of 46.35% and a net margin of 5.16%. The business had revenue of $231.00 million for the quarter, compared to analysts’ expectations of $221.25 million. During the same period in the prior year, the firm earned $0.87 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, research analysts predict that TriNet Group Inc will post 2.98 EPS for the current fiscal year.

About TriNet Group

TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. The company offers 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.

Further Reading: Correction

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

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