Acadian Asset Management LLC Cuts Position in TriNet Group, Inc. (NYSE:TNET)

Acadian Asset Management LLC lowered its stake in TriNet Group, Inc. (NYSE:TNET) by 82.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,453 shares of the business services provider’s stock after selling 61,811 shares during the quarter. Acadian Asset Management LLC’s holdings in TriNet Group were worth $1,344,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Principal Securities Inc. acquired a new position in shares of TriNet Group during the 4th quarter valued at $26,000. Rothschild Investment LLC purchased a new position in shares of TriNet Group during the second quarter valued at $45,000. Blue Trust Inc. boosted its position in TriNet Group by 24.9% during the second 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. Avion Wealth boosted its position in TriNet Group by 19.2% during the second 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, LRI Investments LLC acquired a new position in TriNet Group in the 1st quarter valued at approximately $81,000. Institutional investors and hedge funds own 96.81% of the company’s stock.

TriNet Group Stock Up 1.9 %

Shares of NYSE:TNET opened at $97.85 on Monday. The company has a fifty day moving average of $100.29 and a 200-day moving average of $109.55. The company has a market capitalization of $4.86 billion, a PE ratio of 16.04 and a beta of 1.17. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.04 and a current ratio of 1.04. TriNet Group, Inc. has a 52-week low of $91.59 and a 52-week high of $134.67.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.29. The company had revenue of $310.00 million during the quarter, compared to the consensus estimate of $301.76 million. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. On average, equities analysts predict that TriNet Group, Inc. will post 5.13 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 1st were issued a $0.25 dividend. The ex-dividend date was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. TriNet Group’s payout ratio is 16.39%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TNET shares. TD Cowen dropped their price target on TriNet Group from $132.00 to $118.00 and set a “buy” rating for the company in a report on Monday, June 24th. JPMorgan Chase & Co. reduced their price target on TriNet Group from $107.00 to $103.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $140.00 target price on shares of TriNet Group in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $118.40.

Insider Activity at TriNet Group

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total value 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 $8,484,830.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total value 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 $8,484,830.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total transaction of $39,937.50. Following the sale, the director now directly owns 37,966 shares in the company, valued at approximately $4,043,379. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by company 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.