TriNet Group, Inc. (TNET) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 3.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 197,825 shares of the business services provider’s stock after selling 6,630 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.29% of TriNet Group worth $6,477,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Ameritas Investment Partners Inc. bought a new position in shares of TriNet Group during the 1st quarter worth $105,000. Envestnet Asset Management Inc. lifted its holdings in TriNet Group by 13.3% during the first quarter. Envestnet Asset Management Inc. now owns 4,101 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 483 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in TriNet Group by 18.6% during the first quarter. Victory Capital Management Inc. now owns 4,604 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 723 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in TriNet Group during the first quarter valued at about $153,000. Finally, SG Americas Securities LLC purchased a new stake in TriNet Group during the second quarter valued at about $194,000. Institutional investors own 54.58% of the company’s stock.

In other TriNet Group news, CEO Burton M. Goldfield sold 2,694 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $33.94, for a total transaction of $91,434.36. Following the sale, the chief executive officer now directly owns 31,225 shares of the company’s stock, valued at $1,059,776.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Martin Babinec sold 36,500 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $33.22, for a total value of $1,212,530.00. The disclosure for this sale can be found here. Insiders have sold a total of 388,487 shares of company stock worth $14,115,445 over the last 90 days. Insiders own 42.40% of the company’s stock.

TNET has been the topic of several research reports. Zacks Investment Research raised shares of TriNet Group from a “hold” rating to a “strong-buy” rating and set a $45.00 price target on the stock in a research report on Saturday, August 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $44.00 price objective (up from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. BidaskClub lowered shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Morgan Stanley cut shares of TriNet Group from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $27.00 to $31.00 in a report on Tuesday, August 22nd. Finally, J P Morgan Chase & Co downgraded TriNet Group from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $33.00 to $36.00 in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $37.40.

Shares of TriNet Group, Inc. (TNET) opened at 33.62 on Monday. The stock has a market capitalization of $2.33 billion, a PE ratio of 22.59 and a beta of 2.94. The firm has a 50-day moving average of $36.35 and a 200 day moving average of $32.18. TriNet Group, Inc. has a 1-year low of $17.78 and a 1-year high of $41.58.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.18. The business had revenue of $201.01 million for the quarter, compared to the consensus estimate of $168.27 million. TriNet Group had a net margin of 3.33% and a return on equity of 201.15%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Analysts predict that TriNet Group, Inc. will post $1.49 EPS for the current year.

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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.

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

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