AE Wealth Management LLC Trims Position in TriNet Group, Inc. (TNET)
AE Wealth Management LLC decreased its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 9.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,029 shares of the business services provider’s stock after selling 4,003 shares during the period. AE Wealth Management LLC owned 0.06% of TriNet Group worth $1,312,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Teachers Advisors LLC lifted its position in TriNet Group by 11.9% during the 1st quarter. Teachers Advisors LLC now owns 196,433 shares of the business services provider’s stock valued at $5,677,000 after purchasing an additional 20,888 shares during the period. California Public Employees Retirement System lifted its position in TriNet Group by 31.2% during 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 purchasing an additional 7,300 shares during the period. Vanguard Group Inc. lifted its position in TriNet Group by 11.0% during the 1st quarter. Vanguard Group Inc. now owns 4,228,957 shares of the business services provider’s stock valued at $122,217,000 after purchasing an additional 418,005 shares during the period. Geode Capital Management LLC lifted its position in TriNet Group by 3.3% during the 1st quarter. Geode Capital Management LLC now owns 302,294 shares of the business services provider’s stock valued at $8,736,000 after purchasing an additional 9,752 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in TriNet Group by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 950,762 shares of the business services provider’s stock valued at $27,476,000 after purchasing an additional 44,115 shares during the period. Institutional investors and hedge funds own 53.95% of the company’s stock.
Shares of TriNet Group, Inc. (NYSE:TNET) traded up $0.01 during trading hours on Monday, hitting $43.16. 530,000 shares of the company were exchanged, compared to its average volume of 299,610. The firm has a market cap of $3,000.00, a P/E ratio of 26.16 and a beta of 2.88. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.00. TriNet Group, Inc. has a 1-year low of $23.37 and a 1-year high of $43.66.
TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.30. The business had revenue of $205.90 million for the quarter, compared to the consensus estimate of $174.89 million. TriNet Group had a net margin of 4.15% and a return on equity of 156.96%. TriNet Group’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. equities analysts anticipate that TriNet Group, Inc. will post 1.77 earnings per share for the current year.
A number of research analysts have issued reports on the stock. J P Morgan Chase & Co downgraded shares of TriNet Group from a “neutral” rating to an “underweight” rating and upped their target price for the company from $33.00 to $36.00 in a research report on Thursday, August 17th. BidaskClub downgraded shares of TriNet Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Morgan Stanley downgraded shares of TriNet Group from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $27.00 to $31.00 in a research report on Tuesday, August 22nd. Zacks Investment Research downgraded shares of TriNet Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Finally, Stifel Nicolaus restated a “buy” rating and set a $44.00 target price (up from $37.00) on shares of TriNet Group in a research report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $38.00.
In related news, SVP Brady Mickelsen sold 4,744 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $42.73, for a total value of $202,711.12. Following the sale, the senior vice president now directly owns 29,392 shares in the company, valued at approximately $1,255,920.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Babinec sold 36,500 shares of the stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $34.91, for a total transaction of $1,274,215.00. The disclosure for this sale can be found here. Insiders sold a total of 168,040 shares of company stock worth $6,347,156 over the last quarter. 41.80% of the stock is currently owned by corporate insiders.
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About TriNet Group
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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