Marshall Wace LLP purchased a new position in shares of TriNet Group Inc (NYSE:TNET) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 70,692 shares of the business services provider’s stock, valued at approximately $4,223,000. Marshall Wace LLP owned 0.10% of TriNet Group at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. BlackRock Inc. increased its holdings in shares of TriNet Group by 4.9% in the fourth quarter. BlackRock Inc. now owns 3,057,248 shares of the business services provider’s stock valued at $128,252,000 after purchasing an additional 142,778 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of TriNet Group by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,194,387 shares of the business services provider’s stock valued at $50,104,000 after acquiring an additional 87,241 shares during the period. Norges Bank bought a new stake in shares of TriNet Group in the fourth quarter valued at about $32,128,000. Geode Capital Management LLC boosted its position in shares of TriNet Group by 10.2% in the fourth quarter. Geode Capital Management LLC now owns 607,825 shares of the business services provider’s stock valued at $25,498,000 after acquiring an additional 56,116 shares during the period. Finally, Emerald Advisers LLC boosted its position in shares of TriNet Group by 14.1% in the first quarter. Emerald Advisers LLC now owns 601,110 shares of the business services provider’s stock valued at $35,910,000 after acquiring an additional 74,239 shares during the period. Institutional investors own 86.72% of the company’s stock.
Shares of TNET stock traded up $1.15 on Friday, reaching $71.42. The company had a trading volume of 190,786 shares, compared to its average volume of 222,791. The firm has a 50-day simple moving average of $67.00. TriNet Group Inc has a one year low of $38.74 and a one year high of $71.74. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $5.00 billion, a PE ratio of 27.79 and a beta of 1.89.
In related news, insider Michael P. Murphy sold 7,351 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $63.33, for a total value of $465,538.83. Following the transaction, the insider now directly owns 53,002 shares in the company, valued at approximately $3,356,616.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Edward Griese sold 482 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $68.63, for a total value of $33,079.66. Following the completion of the transaction, the vice president now owns 61,938 shares in the company, valued at $4,250,804.94. The disclosure for this sale can be found here. Insiders have sold a total of 236,846 shares of company stock valued at $15,279,492 in the last three months. Insiders own 37.00% of the company’s stock.
Separately, Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. TriNet Group currently has an average rating of “Hold” and an average target price of $58.63.
TriNet Group Company Profile
TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. 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 benefit law compliance; and other services.
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