BlackRock Inc. lifted its stake in shares of TriNet Group Inc (NYSE:TNET) by 16.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,052,180 shares of the business services provider’s stock after purchasing an additional 432,894 shares during the quarter. BlackRock Inc.’s holdings in TriNet Group were worth $170,740,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TNET. Amalgamated Bank lifted its position in TriNet Group by 20.7% in the 2nd quarter. Amalgamated Bank now owns 6,670 shares of the business services provider’s stock valued at $373,000 after acquiring an additional 1,143 shares in the last quarter. Stifel Financial Corp lifted its position in TriNet Group by 28.4% in the 1st quarter. Stifel Financial Corp now owns 6,041 shares of the business services provider’s stock valued at $279,000 after acquiring an additional 1,335 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in TriNet Group by 31.9% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 7,037 shares of the business services provider’s stock valued at $394,000 after acquiring an additional 1,700 shares in the last quarter. Pitcairn Co. lifted its position in TriNet Group by 35.1% in the 1st quarter. Pitcairn Co. now owns 7,024 shares of the business services provider’s stock valued at $325,000 after acquiring an additional 1,823 shares in the last quarter. Finally, Carleon Capital Partners LLC lifted its position in TriNet Group by 2.4% in the 1st quarter. Carleon Capital Partners LLC now owns 126,576 shares of the business services provider’s stock valued at $8,635,000 after acquiring an additional 2,941 shares in the last quarter. 87.11% of the stock is currently owned by institutional investors.

TriNet Group stock opened at $55.47 on Thursday. TriNet Group Inc has a 52 week low of $33.41 and a 52 week high of $60.15. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.30. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 31.81 and a beta of 2.39.

TriNet Group (NYSE:TNET) last posted its earnings results on Monday, July 30th. The business services provider reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.27. TriNet Group had a net margin of 6.54% and a return on equity of 74.08%. The firm had revenue of $220.00 million for the quarter, compared to analysts’ expectations of $208.41 million. During the same quarter last year, the firm earned $0.52 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. sell-side analysts expect that TriNet Group Inc will post 2.39 earnings per share for the current fiscal year.

In other TriNet Group news, Director Martin Babinec sold 30,000 shares of TriNet Group stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $54.99, for a total transaction of $1,649,700.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Brady Mickelsen sold 13,916 shares of TriNet Group stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $57.88, for a total transaction of $805,458.08. Following the transaction, the senior vice president now directly owns 59,379 shares in the company, valued at approximately $3,436,856.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,976 shares of company stock worth $11,277,273. Insiders own 38.90% of the company’s stock.

Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of TriNet Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Stifel Nicolaus raised their price target on shares of TriNet Group from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Credit Suisse Group assumed coverage on shares of TriNet Group in a research report on Friday, August 10th. They issued a “neutral” rating and a $65.00 price target on the stock. Finally, Morgan Stanley raised their price target on shares of TriNet Group from $51.00 to $55.00 and gave the company a “hold” rating in a research report on Tuesday, July 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $61.75.

TriNet Group Profile

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.

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

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