SG Americas Securities LLC purchased a new stake in shares of TriNet Group, Inc. (NYSE:TNET – Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,252 shares of the business services provider’s stock, valued at approximately $412,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Rothschild Investment LLC purchased a new position in shares of TriNet Group during the 2nd quarter valued at $45,000. Blue Trust Inc. lifted its stake in shares of TriNet Group by 24.9% in the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 104 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of TriNet Group in the 1st quarter valued at $81,000. Avion Wealth lifted its stake in shares of TriNet Group by 19.2% in the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider’s stock valued at $80,000 after purchasing an additional 129 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of TriNet Group in the 2nd quarter valued at $93,000. 96.81% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. TD Cowen reduced their price objective on shares of TriNet Group from $132.00 to $118.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price objective on shares of TriNet Group in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of TriNet Group from $107.00 to $103.00 and set an “underweight” rating for the company in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $118.40.
Insider Activity
In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $102.96, for a total transaction of $482,161.68. Following the completion of the transaction, the chief financial officer now owns 82,409 shares of the company’s stock, valued at approximately $8,484,830.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total value of $39,937.50. Following the sale, the director now owns 37,966 shares of the company’s stock, valued at $4,043,379. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $102.96, for a total transaction of $482,161.68. Following the completion of the sale, the chief financial officer now directly owns 82,409 shares in the company, valued at approximately $8,484,830.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 37.10% of the stock is owned by company insiders.
TriNet Group Stock Up 0.6 %
TriNet Group stock opened at $96.93 on Friday. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 16.37 and a beta of 1.17. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.04 and a quick ratio of 1.04. TriNet Group, Inc. has a fifty-two week low of $91.59 and a fifty-two week high of $134.67. The firm has a fifty day moving average price of $97.23 and a two-hundred day moving average price of $104.60.
TriNet Group (NYSE:TNET – Get Free Report) last released its earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.29. The firm had revenue of $310.00 million during the quarter, compared to analyst estimates of $301.76 million. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. As a group, analysts forecast that TriNet Group, Inc. will post 5.13 earnings per share for the current year.
TriNet Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Tuesday, October 1st. TriNet Group’s dividend payout ratio is currently 16.89%.
TriNet Group 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.
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