Algert Global LLC Acquires 6,368 Shares of TriNet Group, Inc. (TNET)
Algert Global LLC lifted its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 8.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,657 shares of the business services provider’s stock after buying an additional 6,368 shares during the quarter. Algert Global LLC owned about 0.11% of TriNet Group worth $2,611,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in TriNet Group by 14.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 35,587 shares of the business services provider’s stock worth $1,165,000 after acquiring an additional 4,368 shares during the period. Strs Ohio bought a new stake in TriNet Group during the 2nd quarter worth approximately $919,000. Cigna Investments Inc. New bought a new stake in TriNet Group during the 2nd quarter worth approximately $326,000. Pitcairn Co. bought a new stake in TriNet Group during the 2nd quarter worth approximately $201,000. Finally, SG Americas Securities LLC bought a new stake in TriNet Group during the 2nd quarter worth approximately $194,000. Institutional investors own 56.52% of the company’s stock.
TNET has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of TriNet Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. J P Morgan Chase & Co lowered shares of TriNet Group from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $33.00 to $36.00 in a report on Thursday, August 17th. BidaskClub lowered shares of TriNet Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Finally, Morgan Stanley lowered shares of TriNet Group from an “equal weight” rating to an “underweight” rating and increased their price target for the stock from $27.00 to $31.00 in a report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. TriNet Group presently has a consensus rating of “Hold” and a consensus price target of $38.00.
TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.30. TriNet Group had a net margin of 4.15% and a return on equity of 156.96%. The company had revenue of $205.90 million during the quarter, compared to analysts’ expectations of $174.89 million. During the same quarter in the prior year, the company earned $0.29 EPS. The firm’s revenue was up 27.9% on a year-over-year basis. analysts predict that TriNet Group, Inc. will post 1.77 earnings per share for the current year.
In other TriNet Group news, insider Michael P. Murphy sold 631 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $42.40, for a total transaction of $26,754.40. Following the completion of the sale, the insider now owns 12,553 shares of the company’s stock, valued at approximately $532,247.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Martin Babinec sold 36,500 shares of the stock in a transaction 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 valued at $6,673,294 in the last ninety days. 42.40% of the stock is owned by corporate insiders.
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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