TriNet Group, Inc. (TNET) Stake Increased by Alliancebernstein L.P.
Alliancebernstein L.P. lifted its position in shares of TriNet Group, Inc. (NYSE:TNET) by 114.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,870 shares of the business services provider’s stock after acquiring an additional 70,350 shares during the period. Alliancebernstein L.P. owned approximately 0.19% of TriNet Group worth $4,317,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in TriNet Group by 11.0% in the 1st quarter. Vanguard Group Inc. now owns 4,228,957 shares of the business services provider’s stock valued at $122,217,000 after acquiring an additional 418,005 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in TriNet Group in the 1st quarter valued at approximately $6,194,000. Carleon Capital Partners LLC acquired a new position in TriNet Group in the 2nd quarter valued at approximately $7,946,000. Morgan Stanley increased its position in TriNet Group by 85.9% in the 1st quarter. Morgan Stanley now owns 257,711 shares of the business services provider’s stock valued at $7,447,000 after acquiring an additional 119,097 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in TriNet Group in the 2nd quarter valued at approximately $3,481,000. 54.58% of the stock is owned by institutional investors.
In other TriNet Group news, CEO Burton M. Goldfield sold 2,694 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $33.94, for a total transaction of $91,434.36. Following the transaction, the chief executive officer now directly owns 31,225 shares of the company’s stock, valued at approximately $1,059,776.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Burton M. Goldfield sold 13,317 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $32.91, for a total transaction of $438,262.47. Following the transaction, the chief executive officer now directly owns 31,225 shares in the company, valued at $1,027,614.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 388,487 shares of company stock worth $14,115,445. Insiders own 42.40% of the company’s stock.
Shares of TriNet Group, Inc. (TNET) opened at 35.02 on Thursday. The firm has a market capitalization of $2.43 billion, a PE ratio of 23.53 and a beta of 2.89. The stock’s 50 day moving average is $34.89 and its 200 day moving average is $32.54. TriNet Group, Inc. has a 52-week low of $17.78 and a 52-week high of $41.58.
TriNet Group (NYSE:TNET) last issued its earnings results on Monday, July 31st. The business services provider reported $0.45 EPS for the quarter, topping the 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 the consensus estimate of $168.27 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts forecast that TriNet Group, Inc. will post $1.49 EPS for the current year.
TNET has been the subject of several recent research reports. BidaskClub upgraded shares of TriNet Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. Zacks Investment Research upgraded 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 cut shares of TriNet Group from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $27.00 to $31.00 in a research report on Tuesday, August 22nd. Stifel Nicolaus restated a “buy” rating and issued a $44.00 price target (up from $37.00) on shares of TriNet Group in a research report on Tuesday, August 1st. Finally, J P Morgan Chase & Co cut shares of TriNet Group from a “neutral” rating to an “underweight” rating and upped their price target for the company from $33.00 to $36.00 in a research report on Thursday, August 17th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $37.40.
TriNet Group Company 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.
Receive News & Ratings for TriNet Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriNet Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.