BlackRock Inc. Increases Position in TriNet Group, Inc. (NYSE:TNET)

BlackRock Inc. lifted its holdings in TriNet Group, Inc. (NYSE:TNET) by 15.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,531,144 shares of the business services provider’s stock after buying an additional 467,624 shares during the period. BlackRock Inc. owned approximately 5.36% of TriNet Group worth $275,288,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Intrust Bank NA bought a new stake in shares of TriNet Group in the 4th quarter worth approximately $202,000. CIBC Asset Management Inc bought a new stake in shares of TriNet Group in the 4th quarter worth approximately $221,000. Meritage Portfolio Management bought a new stake in shares of TriNet Group in the 1st quarter worth approximately $234,000. Fox Run Management L.L.C. bought a new stake in shares of TriNet Group in the 4th quarter worth approximately $283,000. Finally, Globeflex Capital L P bought a new stake in shares of TriNet Group in the 4th quarter worth approximately $296,000. Hedge funds and other institutional investors own 91.41% of the company’s stock.

In other news, Director H Raymond Bingham sold 415 shares of the company’s stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $72.76, for a total value of $30,195.40. Following the transaction, the director now owns 2,576 shares of the company’s stock, valued at $187,429.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Burton M. Goldfield sold 2,000 shares of the company’s stock in a transaction on Monday, May 24th. The stock was sold at an average price of $78.39, for a total transaction of $156,780.00. Following the completion of the transaction, the chief executive officer now directly owns 223,295 shares in the company, valued at approximately $17,504,095.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,621 shares of company stock worth $5,574,328. Insiders own 39.30% of the company’s stock.

TNET has been the topic of a number of research reports. Credit Suisse Group lifted their price target on shares of TriNet Group from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Tuesday, April 27th. Zacks Investment Research cut shares of TriNet Group from a “buy” rating to a “hold” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $82.00.

Shares of TNET stock opened at $72.30 on Friday. The firm’s fifty day simple moving average is $78.81. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.32 and a quick ratio of 1.32. TriNet Group, Inc. has a 1 year low of $50.67 and a 1 year high of $87.60. The company has a market cap of $4.76 billion, a PE ratio of 17.30 and a beta of 1.43.

TriNet Group (NYSE:TNET) last issued its earnings results on Sunday, April 25th. The business services provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.36. The business had revenue of $309.00 million for the quarter, compared to analysts’ expectations of $280.46 million. TriNet Group had a net margin of 6.97% and a return on equity of 44.94%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 EPS. As a group, analysts forecast that TriNet Group, Inc. will post 3.32 EPS for the current fiscal year.

TriNet Group Company Profile

TriNet Group, Inc provides human resources (HR) solutions for small and midsize businesses in the United States. 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 benefits law compliance; and other HR related services.

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

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