Mackenzie Financial Corp Grows Holdings in TriNet Group, Inc. (NYSE:TNET)

Mackenzie Financial Corp grew its holdings in TriNet Group, Inc. (NYSE:TNETGet Rating) by 881.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,613 shares of the business services provider’s stock after purchasing an additional 20,310 shares during the period. Mackenzie Financial Corp’s holdings in TriNet Group were worth $1,755,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TNET. State of New Jersey Common Pension Fund D increased its stake in TriNet Group by 13.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 30,093 shares of the business services provider’s stock worth $2,960,000 after purchasing an additional 3,536 shares during the period. Victory Capital Management Inc. increased its stake in TriNet Group by 10.7% in the first quarter. Victory Capital Management Inc. now owns 7,933 shares of the business services provider’s stock worth $712,000 after purchasing an additional 764 shares during the period. Osborne Partners Capital Management LLC increased its stake in TriNet Group by 2.4% in the first quarter. Osborne Partners Capital Management LLC now owns 77,820 shares of the business services provider’s stock worth $7,654,000 after purchasing an additional 1,801 shares during the period. Mirador Capital Partners LP increased its stake in TriNet Group by 1.7% in the first quarter. Mirador Capital Partners LP now owns 23,946 shares of the business services provider’s stock worth $2,355,000 after purchasing an additional 407 shares during the period. Finally, GHE LLC increased its stake in TriNet Group by 3.0% in the first quarter. GHE LLC now owns 24,091 shares of the business services provider’s stock worth $2,370,000 after purchasing an additional 701 shares during the period. Hedge funds and other institutional investors own 92.09% of the company’s stock.

TriNet Group Price Performance

Shares of TNET stock opened at $70.01 on Wednesday. TriNet Group, Inc. has a 1-year low of $60.60 and a 1-year high of $107.90. The stock’s 50-day moving average is $70.91 and its 200 day moving average is $77.05. The company has a market cap of $4.36 billion, a P/E ratio of 12.05 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.29 and a quick ratio of 1.29.

TriNet Group (NYSE:TNETGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The business services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.63. TriNet Group had a return on equity of 51.00% and a net margin of 7.71%. The company had revenue of $369.00 million for the quarter, compared to the consensus estimate of $302.92 million. Research analysts predict that TriNet Group, Inc. will post 5.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TNET shares. StockNews.com assumed coverage on TriNet Group in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Credit Suisse Group cut their price target on TriNet Group from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 26th. Cowen cut their price target on TriNet Group from $75.00 to $70.00 in a research note on Wednesday, October 26th. JPMorgan Chase & Co. lowered TriNet Group from a “neutral” rating to an “underweight” rating and raised their price target for the company from $89.00 to $96.00 in a research note on Tuesday, August 16th. Finally, Cowen cut their price target on TriNet Group from $75.00 to $70.00 in a research note on Wednesday, October 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, TriNet Group has an average rating of “Hold” and a consensus price target of $80.25.

Insider Activity at TriNet Group

In related news, CEO Burton M. Goldfield sold 6,250 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $64.78, for a total transaction of $404,875.00. Following the sale, the chief executive officer now owns 210,268 shares of the company’s stock, valued at $13,621,161.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 12,750 shares of company stock valued at $873,768 over the last quarter. 40.60% of the stock is owned by corporate insiders.

About TriNet Group

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TriNet Group, Inc provides human resources (HR) solutions, payroll services, employee benefits, and employment risk mitigation services for small and midsize 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.

Further Reading

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

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