JPMorgan Chase & Co. lifted its holdings in TriNet Group Inc (NYSE:TNET) by 18.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 163,863 shares of the business services provider’s stock after purchasing an additional 26,073 shares during the period. JPMorgan Chase & Co. owned 0.23% of TriNet Group worth $9,229,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC raised its position in TriNet Group by 2,300.2% in the 3rd quarter. SG Americas Securities LLC now owns 50,885 shares of the business services provider’s stock worth $2,866,000 after purchasing an additional 48,765 shares during the last quarter. WINTON GROUP Ltd raised its position in TriNet Group by 24.2% in the 3rd quarter. WINTON GROUP Ltd now owns 18,605 shares of the business services provider’s stock worth $1,048,000 after purchasing an additional 3,627 shares during the last quarter. Wells Fargo & Company MN raised its position in TriNet Group by 3.3% in the 3rd quarter. Wells Fargo & Company MN now owns 166,133 shares of the business services provider’s stock worth $9,357,000 after purchasing an additional 5,360 shares during the last quarter. Chicago Equity Partners LLC raised its position in TriNet Group by 2.9% in the 3rd quarter. Chicago Equity Partners LLC now owns 258,365 shares of the business services provider’s stock worth $14,551,000 after purchasing an additional 7,270 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in TriNet Group by 96.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 41,556 shares of the business services provider’s stock worth $2,340,000 after purchasing an additional 20,426 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.
Several research analysts recently weighed in on TNET shares. ValuEngine cut shares of TriNet Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Credit Suisse Group set a $54.00 price objective on shares of TriNet Group and gave the stock a “hold” rating in a research report on Tuesday, October 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. TriNet Group currently has a consensus rating of “Hold” and an average price target of $59.00.
In other TriNet Group news, VP Edward Griese sold 1,141 shares of the company’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $44.22, for a total transaction of $50,455.02. Following the completion of the sale, the vice president now owns 31,316 shares in the company, valued at approximately $1,384,793.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Burton M. Goldfield sold 6,762 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $54.24, for a total transaction of $366,770.88. Following the sale, the chief executive officer now owns 207,228 shares of the company’s stock, valued at approximately $11,240,046.72. The disclosure for this sale can be found here. Insiders sold a total of 149,572 shares of company stock valued at $7,083,598 in the last 90 days. 38.90% of the stock is currently owned by corporate insiders.
TNET stock opened at $42.93 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.20 and a quick ratio of 1.20. TriNet Group Inc has a fifty-two week low of $38.26 and a fifty-two week high of $60.15. The company has a market capitalization of $2.95 billion, a P/E ratio of 25.00 and a beta of 2.39.
TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Monday, October 29th. The business services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.20. TriNet Group had a net margin of 6.67% and a return on equity of 63.58%. The firm had revenue of $228.00 million during the quarter, compared to analysts’ expectations of $202.65 million. During the same quarter in the previous year, the company posted $0.56 EPS. TriNet Group’s revenue was up 11.2% on a year-over-year basis. As a group, sell-side analysts forecast that TriNet Group Inc will post 2.54 EPS for the current fiscal year.
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About TriNet Group
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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