TriNet Group, Inc. (TNET) Position Decreased by Paloma Partners Management Co
Paloma Partners Management Co lowered its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 25.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 39,189 shares of the business services provider’s stock after selling 13,661 shares during the period. Paloma Partners Management Co owned 0.06% of TriNet Group worth $1,132,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in TNET. Macquarie Group Ltd. increased its stake in TriNet Group by 1,275.3% in the fourth quarter. Macquarie Group Ltd. now owns 687,870 shares of the business services provider’s stock worth $17,623,000 after buying an additional 637,853 shares during the last quarter. Norges Bank bought a new position in shares of TriNet Group during the fourth quarter worth approximately $13,382,000. Wellington Management Group LLP boosted its position in shares of TriNet Group by 9.4% in the first quarter. Wellington Management Group LLP now owns 4,970,312 shares of the business services provider’s stock worth $143,643,000 after buying an additional 428,077 shares during the period. Vanguard Group Inc. boosted its position in shares of TriNet Group by 11.0% in the first quarter. Vanguard Group Inc. now owns 4,228,957 shares of the business services provider’s stock worth $122,217,000 after buying an additional 418,005 shares during the period. Finally, Hennessy Advisors Inc. bought a new position in shares of TriNet Group during the first quarter worth approximately $4,546,000. 53.22% of the stock is currently owned by institutional investors.
Shares of TriNet Group, Inc. (NYSE TNET) opened at 32.24 on Friday. The firm has a market cap of $2.21 billion, a PE ratio of 29.36 and a beta of 2.93. The company has a 50 day moving average price of $31.44 and a 200 day moving average price of $28.31. TriNet Group, Inc. has a 12-month low of $17.78 and a 12-month high of $33.49.
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A number of equities analysts recently issued reports on TNET shares. Deutsche Bank AG cut TriNet Group from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Wednesday, April 19th. Zacks Investment Research lowered TriNet Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. TheStreet raised TriNet Group from a “c” rating to a “b” rating in a research report on Monday, March 27th. Stifel Nicolaus boosted their price target on TriNet Group from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Finally, BidaskClub raised TriNet Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $26.86.
In other TriNet Group news, Director Martin Babinec sold 16,998 shares of TriNet Group stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $32.09, for a total transaction of $545,465.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director H Raymond Bingham sold 5,000 shares of TriNet Group stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $32.78, for a total value of $163,900.00. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at $163,900. The disclosure for this sale can be found here. Over the last three months, insiders sold 277,983 shares of company stock worth $8,675,761. Insiders own 42.40% of the company’s stock.
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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