Alliancebernstein L.P. Has $19.44 Million Stake in TriNet Group, Inc. (NYSE:TNET)

Alliancebernstein L.P. grew its position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 495.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,217 shares of the business services provider's stock after buying an additional 178,228 shares during the period. Alliancebernstein L.P. owned approximately 0.43% of TriNet Group worth $19,444,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wealthfront Advisers LLC acquired a new position in shares of TriNet Group in the fourth quarter valued at about $456,581,000. Wellington Management Group LLP boosted its holdings in TriNet Group by 23.1% in the 4th quarter. Wellington Management Group LLP now owns 1,626,902 shares of the business services provider's stock valued at $147,674,000 after purchasing an additional 305,165 shares during the period. American Century Companies Inc. grew its position in shares of TriNet Group by 1,131.0% during the 4th quarter. American Century Companies Inc. now owns 302,947 shares of the business services provider's stock worth $27,498,000 after purchasing an additional 278,338 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of TriNet Group during the fourth quarter worth approximately $15,875,000. Finally, Norges Bank acquired a new stake in shares of TriNet Group in the fourth quarter valued at approximately $13,660,000. Institutional investors and hedge funds own 96.81% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of TriNet Group in a research report on Thursday, March 13th. TD Cowen lowered TriNet Group from a "buy" rating to a "hold" rating and reduced their target price for the stock from $104.00 to $74.00 in a report on Tuesday, February 18th.

Remove Ads

Insiders Place Their Bets

In other TriNet Group news, Director Paul Edward Chamberlain sold 600 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total value of $41,616.00. Following the completion of the transaction, the director now directly owns 36,991 shares in the company, valued at approximately $2,565,695.76. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total value of $94,607.04. Following the sale, the chief technology officer now owns 19,867 shares in the company, valued at approximately $1,377,975.12. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,748 shares of company stock valued at $833,436. 37.10% of the stock is currently owned by corporate insiders.

TriNet Group Price Performance

Shares of TriNet Group stock traded up $1.86 on Friday, reaching $78.61. 289,151 shares of the stock were exchanged, compared to its average volume of 372,416. The firm's 50 day moving average is $77.39 and its 200-day moving average is $87.22. The firm has a market cap of $3.89 billion, a PE ratio of 22.99 and a beta of 1.06. The company has a debt-to-equity ratio of 13.16, a quick ratio of 1.07 and a current ratio of 1.07. TriNet Group, Inc. has a one year low of $65.43 and a one year high of $131.26.

TriNet Group (NYSE:TNET - Get Free Report) last released its earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. The firm had revenue of $252.00 million during the quarter, compared to analysts' expectations of $225.72 million. As a group, analysts anticipate that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from TriNet Group's previous quarterly dividend of $0.25. TriNet Group's payout ratio is currently 32.16%.

About TriNet Group

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size 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.