AHL Partners LLP Boosts Position in TriNet Group, Inc. (TNET)
AHL Partners LLP boosted its holdings in TriNet Group, Inc. (NYSE:TNET) by 32.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 149,716 shares of the business services provider’s stock after purchasing an additional 36,304 shares during the quarter. AHL Partners LLP owned about 0.22% of TriNet Group worth $4,902,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of TNET. Russell Investments Group Ltd. acquired a new stake in TriNet Group in the 1st quarter valued at $902,000. Wells Fargo & Company MN grew its position in TriNet Group by 12.7% in the 1st quarter. Wells Fargo & Company MN now owns 37,463 shares of the business services provider’s stock valued at $1,083,000 after purchasing an additional 4,233 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in TriNet Group in the 1st quarter valued at $208,000. Swiss National Bank grew its position in TriNet Group by 3.1% in the 1st quarter. Swiss National Bank now owns 69,300 shares of the business services provider’s stock valued at $2,003,000 after purchasing an additional 2,100 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in TriNet Group in the 1st quarter valued at $105,000. 54.58% of the stock is owned by institutional investors and hedge funds.
TNET has been the subject of several research reports. BidaskClub raised shares of TriNet Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. Zacks Investment Research raised 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 research report on Saturday, August 5th. Morgan Stanley downgraded shares of TriNet Group from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $27.00 to $31.00 in a research report on Tuesday, August 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $44.00 price target (up previously from $37.00) on shares of TriNet Group in a research report on Tuesday, August 1st. Finally, J P Morgan Chase & Co downgraded shares of TriNet Group from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $33.00 to $36.00 in a research report on Thursday, August 17th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $37.40.
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TriNet Group, Inc. (NYSE:TNET) opened at 34.33 on Friday. TriNet Group, Inc. has a 12-month low of $17.78 and a 12-month high of $41.58. The firm’s 50-day moving average is $34.77 and its 200-day moving average is $32.59. The stock has a market capitalization of $2.38 billion, a P/E ratio of 23.07 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 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $168.27 million. During the same period in the prior year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts predict that TriNet Group, Inc. will post $1.49 EPS for the current fiscal year.
In other news, CEO Burton M. Goldfield sold 2,694 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $33.94, for a total value of $91,434.36. Following the sale, the chief executive officer now directly owns 31,225 shares of the company’s stock, valued at $1,059,776.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Burton M. Goldfield sold 4,492 shares of the stock in a transaction on Tuesday, October 3rd. The stock was 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. Over the last three months, insiders sold 392,979 shares of company stock worth $14,272,889. Insiders own 42.40% of the company’s stock.
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.
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