Amalgamated Bank purchased a new stake in shares of TriNet Group Inc (NYSE:TNET) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,632 shares of the business services provider’s stock, valued at approximately $250,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its position in TriNet Group by 6.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 24,641 shares of the business services provider’s stock worth $1,093,000 after acquiring an additional 1,412 shares during the period. California Public Employees Retirement System raised its position in shares of TriNet Group by 6.0% in the fourth quarter. California Public Employees Retirement System now owns 31,988 shares of the business services provider’s stock valued at $1,418,000 after purchasing an additional 1,800 shares during the period. American International Group Inc. raised its position in shares of TriNet Group by 8.1% in the third quarter. American International Group Inc. now owns 27,419 shares of the business services provider’s stock valued at $922,000 after purchasing an additional 2,049 shares during the period. Capital Fund Management S.A. raised its position in shares of TriNet Group by 25.6% in the fourth quarter. Capital Fund Management S.A. now owns 10,800 shares of the business services provider’s stock valued at $479,000 after purchasing an additional 2,200 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of TriNet Group by 10.6% in the third quarter. Prudential Financial Inc. now owns 27,162 shares of the business services provider’s stock valued at $914,000 after purchasing an additional 2,610 shares during the period. 85.94% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on TNET shares. Stifel Nicolaus boosted their price target on shares of TriNet Group to $54.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Zacks Investment Research lowered shares of TriNet Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.40.
In related news, Director Wayne B. Lowell sold 14,663 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $45.67, for a total transaction of $669,659.21. Following the completion of the transaction, the director now owns 7,588 shares of the company’s stock, valued at $346,543.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Brady Mickelsen sold 6,393 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $41.11, for a total transaction of $262,816.23. Following the transaction, the senior vice president now directly owns 35,036 shares of the company’s stock, valued at approximately $1,440,329.96. The disclosure for this sale can be found here. In the last three months, insiders sold 234,273 shares of company stock worth $10,327,173. Insiders own 42.40% of the company’s stock.
Shares of TriNet Group Inc (TNET) opened at $46.74 on Friday. TriNet Group Inc has a 12-month low of $27.27 and a 12-month high of $49.00. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $3,256.17, a P/E ratio of 18.77 and a beta of 2.54.
TriNet Group declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 27th that permits the company to buyback $120.00 million in shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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TriNet Group 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.
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