Mercer Global Advisors Inc. ADV Grows Stock Holdings in TriNet Group, Inc. (NYSE:TNET)
Mercer Global Advisors Inc. ADV increased its stake in shares of TriNet Group, Inc. (NYSE:TNET – Free Report) by 991.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 440,910 shares of the business services provider’s stock after buying an additional 400,511 shares during the quarter. Mercer Global Advisors Inc. ADV owned about 0.74% of TriNet Group worth $41,873,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Avion Wealth boosted its holdings in TriNet Group by 85.3% in the 2nd quarter. Avion Wealth now owns 354 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 163 shares in the last quarter. Amundi purchased a new stake in TriNet Group in the 4th quarter valued at approximately $33,000. Captrust Financial Advisors boosted its holdings in TriNet Group by 78.7% in the 2nd quarter. Captrust Financial Advisors now owns 620 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 273 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in TriNet Group in the 2nd quarter valued at approximately $93,000. Finally, Royal Bank of Canada boosted its holdings in TriNet Group by 31.7% in the 3rd quarter. Royal Bank of Canada now owns 1,017 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.
TriNet Group Trading Up 0.1 %
Shares of TNET opened at $114.74 on Friday. The stock has a fifty day moving average of $112.68 and a two-hundred day moving average of $106.01. The company has a debt-to-equity ratio of 109.10, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $5.80 billion, a PE ratio of 19.25 and a beta of 1.11. TriNet Group, Inc. has a fifty-two week low of $61.93 and a fifty-two week high of $121.60.
TriNet Group (NYSE:TNET – Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The business services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.50. The business had revenue of $348.00 million during the quarter, compared to the consensus estimate of $315.27 million. TriNet Group had a return on equity of 61.53% and a net margin of 7.28%. As a group, analysts forecast that TriNet Group, Inc. will post 6.58 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on TNET shares. Needham & Company LLC reissued a “buy” rating and set a $135.00 price target on shares of TriNet Group in a research note on Thursday, October 26th. Wedbush reissued an “outperform” rating on shares of TriNet Group in a research note on Thursday, October 26th. StockNews.com raised TriNet Group from a “hold” rating to a “buy” rating in a research note on Wednesday. UBS Group started coverage on TriNet Group in a research note on Tuesday, November 7th. They set a “neutral” rating and a $110.00 price target on the stock. Finally, Stifel Nicolaus boosted their price target on TriNet Group from $106.00 to $117.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.86.
Get Our Latest Stock Report on TriNet Group
Insider Transactions at TriNet Group
In other news, CEO Burton M. Goldfield sold 10,358 shares of the company’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $115.04, for a total transaction of $1,191,584.32. Following the completion of the sale, the chief executive officer now directly owns 170,703 shares in the company, valued at approximately $19,637,673.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Burton M. Goldfield sold 10,358 shares of the company’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $115.04, for a total transaction of $1,191,584.32. Following the completion of the sale, the chief executive officer now directly owns 170,703 shares of the company’s stock, valued at approximately $19,637,673.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Burton M. Goldfield sold 2,786 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $112.75, for a total transaction of $314,121.50. Following the sale, the chief executive officer now directly owns 165,166 shares of the company’s stock, valued at $18,622,466.50. The disclosure for this sale can be found here. Insiders sold a total of 32,211 shares of company stock worth $3,587,456 in the last ninety days. Insiders own 37.40% of the company’s stock.
About TriNet Group (Free Report)
TriNet Group, Inc provides human resources (HR) consulting services, employee benefit options, payroll services, and employment risk mitigation services for small and medium size businesses in the United States. 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 benefits law compliance; and other HR related services.
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