TriNet Group Inc (NYSE:TNET) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its holdings in shares of TriNet Group Inc (NYSE:TNET) by 59.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,537 shares of the business services provider’s stock after purchasing an additional 8,745 shares during the period. Russell Investments Group Ltd.’s holdings in TriNet Group were worth $1,595,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its position in shares of TriNet Group by 10.2% in the 4th quarter. Geode Capital Management LLC now owns 607,825 shares of the business services provider’s stock valued at $25,498,000 after acquiring an additional 56,116 shares during the period. ARP Americas LP acquired a new position in shares of TriNet Group in the 1st quarter valued at $209,000. Biltmore Capital Advisors LLC acquired a new position in shares of TriNet Group in the 1st quarter valued at $766,000. NumerixS Investment Technologies Inc acquired a new position in shares of TriNet Group in the 1st quarter valued at $130,000. Finally, GAM Holding AG increased its position in shares of TriNet Group by 77.5% in the 1st quarter. GAM Holding AG now owns 13,267 shares of the business services provider’s stock valued at $793,000 after acquiring an additional 5,793 shares during the period. 86.51% of the stock is currently owned by institutional investors and hedge funds.

NYSE:TNET traded up $0.26 during mid-day trading on Friday, hitting $65.72. The company’s stock had a trading volume of 1,369 shares, compared to its average volume of 331,471. TriNet Group Inc has a 1 year low of $38.74 and a 1 year high of $76.92. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 25.54 and a beta of 1.89. The business’s fifty day moving average is $67.75 and its two-hundred day moving average is $65.34.

TriNet Group (NYSE:TNET) last posted its earnings results on Thursday, July 25th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. TriNet Group had a net margin of 5.16% and a return on equity of 46.35%. The business had revenue of $231.00 million for the quarter, compared to analyst estimates of $221.25 million. During the same period in the prior year, the company posted $0.87 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts anticipate that TriNet Group Inc will post 2.98 EPS for the current fiscal year.

In other news, CEO Burton M. Goldfield sold 8,488 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $68.47, for a total transaction of $581,173.36. Following the sale, the chief executive officer now directly owns 240,060 shares of the company’s stock, valued at approximately $16,436,908.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Burton M. Goldfield sold 6,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $65.13, for a total transaction of $390,780.00. Following the sale, the chief executive officer now directly owns 223,222 shares in the company, valued at $14,538,448.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,094 shares of company stock worth $8,491,777. Corporate insiders own 37.00% of the company’s stock.

Several equities analysts recently issued reports on the company. Berenberg Bank assumed coverage on TriNet Group in a research report on Friday, September 13th. They issued a “buy” rating and a $80.00 target price on the stock. ValuEngine lowered shares of TriNet Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Zacks Investment Research raised shares of TriNet Group from a “sell” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $64.56.

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.

Further Reading: Stochastic Momentum Index (SMI)

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

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