Allspring Global Investments Holdings LLC Acquires 3,646 Shares of TriNet Group, Inc. (NYSE:TNET)

Allspring Global Investments Holdings LLC grew its holdings in TriNet Group, Inc. (NYSE:TNET) by 18.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,462 shares of the business services provider’s stock after purchasing an additional 3,646 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in TriNet Group were worth $3,109,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TNET. Oliver Luxxe Assets LLC raised its stake in TriNet Group by 1.4% in the first quarter. Oliver Luxxe Assets LLC now owns 5,860 shares of the business services provider’s stock worth $776,000 after buying an additional 83 shares in the last quarter. Ausbil Investment Management Ltd lifted its stake in shares of TriNet Group by 11.3% during the 1st quarter. Ausbil Investment Management Ltd now owns 5,946 shares of the business services provider’s stock worth $787,000 after purchasing an additional 602 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in TriNet Group during the fourth quarter valued at about $338,000. B. Riley Wealth Advisors Inc. bought a new stake in TriNet Group during the fourth quarter valued at about $309,000. Finally, Congress Asset Management Co. MA grew its stake in TriNet Group by 0.3% in the fourth quarter. Congress Asset Management Co. MA now owns 63,059 shares of the business services provider’s stock valued at $7,500,000 after purchasing an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Insider Buying and Selling

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction that occurred on 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 directly owns 36,341 shares in the company, valued at approximately $3,671,167.82. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total transaction of $37,882.50. Following the sale, the director now directly owns 36,341 shares of the company’s stock, valued at $3,671,167.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Alexander G. Warren sold 1,867 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 32,661 shares of the company’s stock, valued at $3,388,252.14. The disclosure for this sale can be found here. 37.10% of the stock is owned by corporate insiders.

TriNet Group Trading Up 0.6 %

Shares of TriNet Group stock opened at $99.66 on Wednesday. TriNet Group, Inc. has a 12-month low of $90.55 and a 12-month high of $134.67. The firm’s 50 day simple moving average is $104.41 and its two-hundred day simple moving average is $116.33. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 6.88. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 16.34 and a beta of 1.19.

TriNet Group (NYSE:TNET) last released its 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 during the quarter, compared to analyst estimates of $380.41 million. Analysts predict that TriNet Group, Inc. will post 4.82 EPS for the current year.

TriNet Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 1st will be given a $0.25 dividend. The ex-dividend date is Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.00%. TriNet Group’s dividend payout ratio is currently 16.39%.

Analyst Upgrades and Downgrades

TNET has been the subject of several analyst reports. Needham & Company LLC decreased their price target on shares of TriNet Group from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, April 26th. StockNews.com downgraded shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Finally, TD Cowen cut their price target on shares of TriNet Group from $132.00 to $118.00 and set a “buy” rating on the stock in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $113.83.

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.