Assenagon Asset Management S.A. Purchases 15,017 Shares of TriNet Group, Inc. (NYSE:TNET)

Assenagon Asset Management S.A. grew its stake in TriNet Group, Inc. (NYSE:TNET – Get Rating) by 81.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,440 shares of the business services provider’s stock after acquiring an additional 15,017 shares during the period. Assenagon Asset Management S.A. owned 0.05% of TriNet Group worth $2,382,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. IFG Advisory LLC bought a new position in TriNet Group in the 2nd quarter worth about $203,000. JLB & Associates Inc. boosted its stake in shares of TriNet Group by 9.5% during the second quarter. JLB & Associates Inc. now owns 35,420 shares of the business services provider’s stock valued at $2,749,000 after purchasing an additional 3,063 shares in the last quarter. Diversified Trust Co bought a new position in shares of TriNet Group during the third quarter valued at approximately $247,000. Van ECK Associates Corp boosted its stake in shares of TriNet Group by 29.0% during the second quarter. Van ECK Associates Corp now owns 1,382 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 311 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of TriNet Group by 1,371.5% during the second quarter. SG Americas Securities LLC now owns 31,285 shares of the business services provider’s stock valued at $2,428,000 after purchasing an additional 29,159 shares in the last quarter. 91.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TNET has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of TriNet Group in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Cowen dropped their price objective on shares of TriNet Group from $70.00 to $67.00 in a research note on Wednesday. Cowen dropped their price objective on shares of TriNet Group from $75.00 to $70.00 in a research note on Wednesday, October 26th. Finally, Credit Suisse Group decreased their target price on shares of TriNet Group from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, October 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $79.50.

Insiders Place Their Bets

In other TriNet Group news, SVP Alexander G. Warren sold 3,280 shares of the firm’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $70.11, for a total value of $229,960.80. Following the completion of the transaction, the senior vice president now owns 37,862 shares of the company’s stock, valued at $2,654,504.82. The transaction was disclosed in a filing with the SEC, which is available at this link. In other TriNet Group news, SVP Alexander G. Warren sold 3,280 shares of the firm’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $70.11, for a total value of $229,960.80. Following the completion of the transaction, the senior vice president now owns 37,862 shares of the company’s stock, valued at $2,654,504.82. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Burton M. Goldfield sold 6,250 shares of the firm’s stock in a transaction on Friday, November 25th. The stock was sold at an average price of $71.12, for a total transaction of $444,500.00. Following the completion of the transaction, the chief executive officer now directly owns 205,137 shares of the company’s stock, valued at approximately $14,589,343.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,405 shares of company stock valued at $1,511,558. Insiders own 40.60% of the company’s stock.

TriNet Group Trading Up 0.4 %

NYSE:TNET opened at $73.97 on Thursday. TriNet Group, Inc. has a 52 week low of $60.60 and a 52 week high of $103.36. The firm has a 50 day moving average of $68.41 and a 200 day moving average of $74.99. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 12.73 and a beta of 1.12.

TriNet Group (NYSE:TNET – Get Rating) last posted its earnings results on Tuesday, October 25th. The business services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.63. The company had revenue of $369.00 million during the quarter, compared to analysts’ expectations of $302.92 million. TriNet Group had a net margin of 7.71% and a return on equity of 51.00%. As a group, sell-side analysts anticipate that TriNet Group, Inc. will post 5.52 earnings per share for the current fiscal year.

TriNet Group Company Profile

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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.