Wellington Management Group LLP Sells 754,839 Shares of TriNet Group, Inc. (NYSE:TNET)

Wellington Management Group LLP cut its stake in TriNet Group, Inc. (NYSE:TNET) by 28.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,879,303 shares of the business services provider’s stock after selling 754,839 shares during the period. Wellington Management Group LLP owned approximately 3.72% of TriNet Group worth $223,506,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TNET. Principal Securities Inc. bought a new stake in TriNet Group in the 4th quarter valued at $26,000. Avion Wealth boosted its holdings in TriNet Group by 22.9% in the 4th quarter. Avion Wealth now owns 569 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 106 shares during the period. PNC Financial Services Group Inc. boosted its holdings in TriNet Group by 31.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 730 shares of the business services provider’s stock valued at $85,000 after purchasing an additional 176 shares during the period. Group One Trading L.P. bought a new stake in TriNet Group in the 3rd quarter valued at $90,000. Finally, Blue Trust Inc. boosted its holdings in TriNet Group by 15.7% in the 4th quarter. Blue Trust Inc. now owns 798 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 108 shares during the period. 96.81% of the stock is owned by institutional investors.

TriNet Group Trading Up 0.5 %

Shares of TNET stock opened at $102.82 on Wednesday. TriNet Group, Inc. has a 12-month low of $90.55 and a 12-month high of $134.67. The company has a market capitalization of $5.20 billion, a P/E ratio of 16.86 and a beta of 1.20. The firm has a 50-day moving average price of $109.88 and a 200 day moving average price of $117.49. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 6.88.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Friday, April 26th. The business services provider reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.36). TriNet Group had a net margin of 6.78% and a return on equity of 124.38%. The firm had revenue of $357.00 million for the quarter, compared to the consensus estimate of $380.41 million. Research analysts forecast that TriNet Group, Inc. will post 4.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on TNET. Needham & Company LLC reduced their price target on shares of TriNet Group from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, April 26th. TD Cowen upped their target price on shares of TriNet Group from $129.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Finally, StockNews.com lowered shares of TriNet Group from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $117.50.

Insider Activity at TriNet Group

In related news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $101.02, for a total transaction of $37,882.50. Following the completion of the transaction, the director now directly owns 36,341 shares of the company’s stock, valued at approximately $3,671,167.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other TriNet Group news, SVP Alexander G. Warren sold 1,867 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $103.74, for a total value of $193,682.58. Following the completion of the sale, the senior vice president now owns 32,661 shares in the company, valued at approximately $3,388,252.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $101.02, for a total transaction of $37,882.50. Following the completion of the sale, the director now owns 36,341 shares of the company’s stock, valued at approximately $3,671,167.82. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by insiders.

TriNet Group Company Profile

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.