First Trust Advisors LP lowered its holdings in TriNet Group Inc (NYSE:TNET) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,091 shares of the business services provider’s stock after selling 6,126 shares during the period. First Trust Advisors LP’s holdings in TriNet Group were worth $3,019,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. purchased a new stake in shares of TriNet Group in the third quarter valued at $3,573,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of TriNet Group in the third quarter valued at $827,000. Russell Investments Group Ltd. lifted its holdings in shares of TriNet Group by 644.8% in the third quarter. Russell Investments Group Ltd. now owns 265,053 shares of the business services provider’s stock valued at $8,911,000 after purchasing an additional 229,466 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its holdings in shares of TriNet Group by 67.7% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 123,900 shares of the business services provider’s stock valued at $4,164,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of TriNet Group by 112.0% in the third quarter. Sei Investments Co. now owns 7,913 shares of the business services provider’s stock valued at $266,000 after purchasing an additional 4,181 shares in the last quarter. Institutional investors own 85.94% of the company’s stock.
Shares of TriNet Group Inc (NYSE TNET) opened at $46.75 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.86. TriNet Group Inc has a 1-year low of $27.27 and a 1-year high of $49.00. The stock has a market capitalization of $3,296.10, a price-to-earnings ratio of 18.78 and a beta of 2.54.
TriNet Group declared that its board has approved a stock buyback program on Tuesday, February 27th that allows the company to buyback $120.00 million in outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of analysts have recently issued reports on TNET shares. Zacks Investment Research lowered TriNet Group from a “strong-buy” rating to a “hold” rating in a report on Friday, January 5th. Stifel Nicolaus increased their target price on TriNet Group to $54.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $41.40.
In related news, SVP Brady Mickelsen sold 6,393 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $41.11, for a total transaction of $262,816.23. Following the completion of the sale, the senior vice president now directly owns 35,036 shares in the company, valued at $1,440,329.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael P. Murphy sold 837 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $40.86, for a total transaction of $34,199.82. Following the transaction, the insider now directly owns 19,444 shares in the company, valued at $794,481.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 234,273 shares of company stock valued at $10,327,173. 41.80% of the stock is owned by corporate insiders.
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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.
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