Invesco Ltd. Lowers Stock Holdings in TriNet Group Inc (NYSE:TNET)

Invesco Ltd. trimmed its position in shares of TriNet Group Inc (NYSE:TNET) by 12.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,680 shares of the business services provider’s stock after selling 10,867 shares during the quarter. Invesco Ltd. owned 0.11% of TriNet Group worth $4,996,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TNET. Advisor Group Inc. raised its position in shares of TriNet Group by 5.2% during the 2nd quarter. Advisor Group Inc. now owns 3,158 shares of the business services provider’s stock worth $215,000 after acquiring an additional 155 shares in the last quarter. ARP Americas LP raised its position in shares of TriNet Group by 5.7% during the 2nd quarter. ARP Americas LP now owns 3,700 shares of the business services provider’s stock worth $251,000 after acquiring an additional 200 shares in the last quarter. Pier 88 Investment Partners LLC raised its position in shares of TriNet Group by 5.9% during the 2nd quarter. Pier 88 Investment Partners LLC now owns 13,545 shares of the business services provider’s stock worth $918,000 after acquiring an additional 760 shares in the last quarter. Castle Rock Wealth Management LLC raised its position in shares of TriNet Group by 10.7% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 8,681 shares of the business services provider’s stock worth $595,000 after acquiring an additional 838 shares in the last quarter. Finally, GAM Holding AG raised its position in shares of TriNet Group by 7.4% during the 2nd quarter. GAM Holding AG now owns 14,255 shares of the business services provider’s stock worth $966,000 after acquiring an additional 988 shares in the last quarter. Institutional investors and hedge funds own 86.51% of the company’s stock.

Several research analysts have commented on TNET shares. ValuEngine lowered TriNet Group from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Berenberg Bank started coverage on TriNet Group in a research report on Friday, September 13th. They set a “buy” rating and a $80.00 price target on the stock. Finally, Zacks Investment Research lowered TriNet Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $64.56.

TNET opened at $59.03 on Friday. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 22.97 and a beta of 1.86. TriNet Group Inc has a 52 week low of $38.74 and a 52 week high of $76.92. The business’s 50 day moving average is $63.55 and its two-hundred day moving average is $65.35. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.87.

TriNet Group (NYSE:TNET) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The company had revenue of $231.00 million for the quarter, compared to analyst estimates of $221.25 million. TriNet Group had a return on equity of 46.35% and a net margin of 5.16%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 earnings per share. Equities analysts expect that TriNet Group Inc will post 2.98 EPS for the current fiscal year.

In other news, Director Martin Babinec sold 23,500 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $63.48, for a total value of $1,491,780.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 700 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $58.26, for a total value of $40,782.00. Following the completion of the transaction, the director now directly owns 28,143 shares in the company, valued at approximately $1,639,611.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,312 shares of company stock worth $8,092,319. 37.00% of the stock is currently owned by corporate insiders.

About TriNet Group

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.

Further Reading: Dividend

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

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