Ameriprise Financial Inc. Acquires New Stake in TriNet Group, Inc. (TNET)

Ameriprise Financial Inc. acquired a new position in TriNet Group, Inc. (NYSE:TNET) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 67,238 shares of the business services provider’s stock, valued at approximately $2,201,000. Ameriprise Financial Inc. owned about 0.10% of TriNet Group at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in TriNet Group by 13.3% in the first quarter. Envestnet Asset Management Inc. now owns 4,101 shares of the business services provider’s stock worth $119,000 after buying an additional 483 shares in the last quarter. Victory Capital Management Inc. boosted its stake in TriNet Group by 18.6% in the first quarter. Victory Capital Management Inc. now owns 4,604 shares of the business services provider’s stock worth $133,000 after buying an additional 723 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in TriNet Group by 596.6% in the second quarter. BNP Paribas Arbitrage SA now owns 5,705 shares of the business services provider’s stock worth $187,000 after buying an additional 4,886 shares in the last quarter. SG Americas Securities LLC purchased a new stake in TriNet Group in the second quarter worth approximately $194,000. Finally, Pitcairn Co. purchased a new stake in TriNet Group in the second quarter worth approximately $201,000. Institutional investors own 54.68% of the company’s stock.

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In other news, CEO Burton M. Goldfield sold 2,694 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $33.94, for a total transaction of $91,434.36. Following the transaction, the chief executive officer now owns 31,225 shares of the company’s stock, valued at approximately $1,059,776.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Wayne B. Lowell sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $39.15, for a total value of $783,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 352,983 shares of company stock worth $12,988,957. Corporate insiders own 42.40% of the company’s stock.

TriNet Group (NYSE:TNET) last released its earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.18. The firm had revenue of $201.01 million for the quarter, compared to the consensus estimate of $168.27 million. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

A number of analysts have recently weighed in on TNET shares. BidaskClub lowered TriNet Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised TriNet Group from a “hold” rating to a “strong-buy” rating and set a $45.00 price objective for the company in a research note on Saturday, August 5th. Morgan Stanley lowered TriNet Group from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $27.00 to $31.00 in a research note on Tuesday, August 22nd. Stifel Nicolaus reissued a “buy” rating and set a $44.00 price objective (up previously from $37.00) on shares of TriNet Group in a research note on Tuesday, August 1st. Finally, J P Morgan Chase & Co lowered TriNet Group from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $33.00 to $36.00 in a research note on Thursday, August 17th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $37.40.

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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