Macquarie Group Ltd. lowered its holdings in TriNet Group, Inc. (NYSE:TNET) by 20.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 632,341 shares of the business services provider’s stock after selling 161,493 shares during the quarter. Macquarie Group Ltd. owned about 0.91% of TriNet Group worth $20,703,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Alps Advisors Inc. raised its position in shares of TriNet Group by 0.3% during the second quarter. Alps Advisors Inc. now owns 16,389 shares of the business services provider’s stock worth $537,000 after acquiring an additional 43 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of TriNet Group by 13.3% during 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. PNC Financial Services Group Inc. raised its position in shares of TriNet Group by 0.7% during the second quarter. PNC Financial Services Group Inc. now owns 108,778 shares of the business services provider’s stock worth $3,562,000 after acquiring an additional 716 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of TriNet Group by 18.6% during 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. Finally, American International Group Inc. raised its position in shares of TriNet Group by 7.1% during the first quarter. American International Group Inc. now owns 25,946 shares of the business services provider’s stock worth $750,000 after acquiring an additional 1,717 shares during the last quarter. 54.58% of the stock is currently owned by institutional investors.

TNET has been the subject of a number of recent research reports. BidaskClub upgraded TriNet Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 price objective (up previously from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Zacks Investment Research downgraded TriNet Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 21st. Morgan Stanley downgraded TriNet Group from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $27.00 to $31.00 in a report on Tuesday, August 22nd. Finally, J P Morgan Chase & Co downgraded TriNet Group from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $33.00 to $36.00 in a report on Thursday, August 17th. Three research 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. The company presently has an average rating of “Hold” and a consensus price target of $37.40.

In related news, CEO Burton M. Goldfield sold 4,492 shares of the firm’s stock in a transaction that occurred on 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 $1,033,344.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Burton M. Goldfield sold 13,317 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $32.91, for a total transaction of $438,262.47. Following the completion of the sale, the chief executive officer now owns 31,225 shares in the company, valued at approximately $1,027,614.75. The disclosure for this sale can be found here. Insiders sold 357,983 shares of company stock worth $13,172,357 in the last 90 days. 42.40% of the stock is currently owned by corporate insiders.

Shares of TriNet Group, Inc. (NYSE TNET) opened at 34.19 on Thursday. The company has a 50-day moving average price of $34.69 and a 200-day moving average price of $32.74. The company has a market cap of $2.37 billion, a P/E ratio of 22.98 and a beta of 2.89. TriNet Group, Inc. has a 12-month low of $17.78 and a 12-month high of $41.58.

TriNet Group (NYSE:TNET) last issued its earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.18. TriNet Group had a net margin of 3.33% and a return on equity of 201.15%. The company had revenue of $201.01 million for the quarter, compared to analysts’ expectations of $168.27 million. During the same quarter last year, the company posted $0.27 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts predict that TriNet Group, Inc. will post $1.49 earnings per share for the current year.

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

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