TriNet Group Inc (TNET) Shares Bought by BlackRock Inc.

BlackRock Inc. lifted its stake in shares of TriNet Group Inc (NYSE:TNET) by 16.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,052,180 shares of the business services provider’s stock after buying an additional 432,894 shares during the period. BlackRock Inc. owned about 4.33% of TriNet Group worth $170,740,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. GAM Holding AG increased its holdings in TriNet Group by 78.3% in the second quarter. GAM Holding AG now owns 16,916 shares of the business services provider’s stock valued at $946,000 after purchasing an additional 7,426 shares during the period. Swiss National Bank increased its holdings in TriNet Group by 10.0% in the second quarter. Swiss National Bank now owns 79,300 shares of the business services provider’s stock valued at $4,436,000 after purchasing an additional 7,200 shares during the period. Cantillon Capital Management LLC increased its holdings in TriNet Group by 9.0% in the second quarter. Cantillon Capital Management LLC now owns 4,514,891 shares of the business services provider’s stock valued at $252,563,000 after purchasing an additional 374,286 shares during the period. Bank of New York Mellon Corp increased its holdings in TriNet Group by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 512,894 shares of the business services provider’s stock valued at $28,692,000 after purchasing an additional 5,493 shares during the period. Finally, Rhumbline Advisers increased its holdings in TriNet Group by 9.2% in the second quarter. Rhumbline Advisers now owns 42,213 shares of the business services provider’s stock valued at $2,361,000 after purchasing an additional 3,564 shares during the period. Institutional investors own 87.11% of the company’s stock.

NYSE TNET opened at $55.47 on Thursday. The firm has a market capitalization of $3.77 billion, a P/E ratio of 31.81 and a beta of 2.39. TriNet Group Inc has a twelve month low of $33.41 and a twelve month high of $60.15. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.18 and a quick ratio of 1.18.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Monday, July 30th. The business services provider reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.27. TriNet Group had a return on equity of 74.08% and a net margin of 6.54%. The firm had revenue of $220.00 million during the quarter, compared to the consensus estimate of $208.41 million. During the same period last year, the business posted $0.52 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. sell-side analysts anticipate that TriNet Group Inc will post 2.39 EPS for the current fiscal year.

In other TriNet Group news, SVP Brady Mickelsen sold 5,002 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $57.02, for a total transaction of $285,214.04. Following the completion of the sale, the senior vice president now directly owns 61,583 shares in the company, valued at approximately $3,511,462.66. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Edward Griese sold 3,830 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $56.87, for a total value of $217,812.10. Following the sale, the vice president now owns 31,046 shares of the company’s stock, valued at $1,765,586.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,976 shares of company stock valued at $11,277,273. Company insiders own 38.90% of the company’s stock.

A number of analysts recently weighed in on the company. Zacks Investment Research downgraded TriNet Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Stifel Nicolaus increased their price objective on TriNet Group from $64.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Credit Suisse Group assumed coverage on TriNet Group in a report on Friday, August 10th. They issued a “neutral” rating and a $65.00 price objective for the company. Finally, Morgan Stanley increased their price objective on TriNet Group from $51.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, July 31st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. TriNet Group presently has a consensus rating of “Buy” and a consensus target price of $61.75.

TriNet Group Company 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.

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

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