TriNet Group, Inc. (TNET) Stake Increased by Voya Investment Management LLC

Voya Investment Management LLC grew its holdings in TriNet Group, Inc. (NYSE:TNET) by 18.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,608 shares of the business services provider’s stock after buying an additional 3,036 shares during the quarter. Voya Investment Management LLC’s holdings in TriNet Group were worth $642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TNET. State Board of Administration of Florida Retirement System acquired a new stake in shares of TriNet Group in the 1st quarter valued at approximately $208,000. Envestnet Asset Management Inc. lifted its holdings in shares of TriNet Group by 13.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,101 shares of the business services provider’s stock valued at $119,000 after buying an additional 483 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of TriNet Group by 18.6% in the 1st quarter. Victory Capital Management Inc. now owns 4,604 shares of the business services provider’s stock valued at $133,000 after buying an additional 723 shares during the period. Teachers Advisors LLC lifted its holdings in shares of TriNet Group by 11.9% in the 1st quarter. Teachers Advisors LLC now owns 196,433 shares of the business services provider’s stock valued at $5,677,000 after buying an additional 20,888 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of TriNet Group by 31.2% in the 1st quarter. California Public Employees Retirement System now owns 30,700 shares of the business services provider’s stock valued at $887,000 after buying an additional 7,300 shares during the period. 54.68% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the company. J P Morgan Chase & Co cut TriNet Group from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $33.00 to $36.00 in a report on Thursday, August 17th. BidaskClub cut TriNet Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Morgan Stanley cut TriNet Group from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $27.00 to $31.00 in a report on Tuesday, August 22nd. Zacks Investment Research cut TriNet Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $44.00 price objective (up from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $37.40.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Monday, October 30th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.30. The firm had revenue of $205.90 million during the quarter, compared to analyst estimates of $174.89 million. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The firm’s quarterly revenue was up 27.9% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS.

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In other news, CEO Burton M. Goldfield sold 4,292 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $35.05, for a total transaction of $150,434.60. Following the completion of the sale, the chief executive officer now owns 29,282 shares in the company, valued at approximately $1,026,334.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin Babinec sold 39,456 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $38.28, for a total value of $1,510,375.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 332,983 shares of company stock valued at $12,205,957. 42.40% of the stock is currently owned by corporate insiders.

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

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