Morgan Stanley Has $14.88 Million Holdings in TriNet Group Inc (TNET)

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Morgan Stanley cut its holdings in shares of TriNet Group Inc (NYSE:TNET) by 20.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,114 shares of the business services provider’s stock after selling 68,265 shares during the quarter. Morgan Stanley’s holdings in TriNet Group were worth $14,875,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TNET. Raymond James & Associates purchased a new stake in TriNet Group in the 2nd quarter valued at $246,000. Bank of America Corp DE grew its holdings in TriNet Group by 66.7% in the 2nd quarter. Bank of America Corp DE now owns 71,642 shares of the business services provider’s stock valued at $4,007,000 after buying an additional 28,674 shares in the last quarter. California Public Employees Retirement System grew its holdings in TriNet Group by 16.5% in the 2nd quarter. California Public Employees Retirement System now owns 36,499 shares of the business services provider’s stock valued at $2,042,000 after buying an additional 5,164 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in TriNet Group by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 512,894 shares of the business services provider’s stock valued at $28,692,000 after buying an additional 5,493 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in TriNet Group by 6.9% in the 2nd quarter. Northern Trust Corp now owns 546,097 shares of the business services provider’s stock valued at $30,550,000 after buying an additional 35,433 shares in the last quarter. 84.77% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have issued reports on the company. Zacks Investment Research cut TriNet Group from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a report on Saturday, January 26th. ValuEngine cut TriNet Group from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Finally, Credit Suisse Group set a $54.00 target price on TriNet Group and gave the company a “hold” rating in a report on Tuesday, October 30th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. TriNet Group has a consensus rating of “Hold” and a consensus target price of $56.25.

NYSE TNET opened at $45.56 on Thursday. The firm has a market cap of $3.15 billion, a PE ratio of 26.44 and a beta of 2.16. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.20 and a quick ratio of 1.20. TriNet Group Inc has a twelve month low of $38.26 and a twelve month high of $60.15.

TriNet Group (NYSE:TNET) last released its quarterly earnings results on Monday, October 29th. The business services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.20. The business had revenue of $228.00 million during the quarter, compared to analysts’ expectations of $202.65 million. TriNet Group had a return on equity of 63.58% and a net margin of 6.67%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 EPS. As a group, equities analysts expect that TriNet Group Inc will post 2.54 earnings per share for the current year.

In other news, Director Martin Babinec sold 30,000 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $46.75, for a total transaction of $1,402,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Edward Griese sold 1,141 shares of the stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $45.11, for a total value of $51,470.51. Following the transaction, the vice president now owns 22,292 shares of the company’s stock, valued at $1,005,592.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 154,913 shares of company stock valued at $6,825,116. Company insiders own 38.90% of the company’s stock.

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

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