Quest Partners LLC Sells 5,101 Shares of TriNet Group, Inc. (NYSE:TNET)

Quest Partners LLC reduced its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 77.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,488 shares of the business services provider’s stock after selling 5,101 shares during the quarter. Quest Partners LLC’s holdings in TriNet Group were worth $149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Arizona State Retirement System raised its stake in shares of TriNet Group by 2.0% in the second quarter. Arizona State Retirement System now owns 9,203 shares of the business services provider’s stock valued at $920,000 after acquiring an additional 180 shares during the period. Victory Capital Management Inc. raised its stake in shares of TriNet Group by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 23,759 shares of the business services provider’s stock worth $2,376,000 after acquiring an additional 1,485 shares in the last quarter. Chase Investment Counsel Corp purchased a new stake in shares of TriNet Group during the 2nd quarter valued at $875,000. Rhumbline Advisers raised its stake in TriNet Group by 4.3% in the second quarter. Rhumbline Advisers now owns 49,253 shares of the business services provider’s stock valued at $4,925,000 after buying an additional 2,051 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in TriNet Group in the 2nd quarter worth approximately $45,000. 96.81% of the stock is currently owned by institutional investors.

TriNet Group Stock Performance

NYSE TNET opened at $97.98 on Tuesday. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $4.95 billion, a P/E ratio of 16.06 and a beta of 1.17. The stock has a 50-day moving average of $100.28 and a two-hundred day moving average of $109.34. TriNet Group, Inc. has a 1-year low of $91.59 and a 1-year high of $134.67.

TriNet Group (NYSE:TNET) 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. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. The firm had revenue of $310.00 million for the quarter, compared to analyst estimates of $301.76 million. As a group, analysts anticipate that TriNet Group, Inc. will post 5.13 EPS for the current year.

TriNet Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 1st were given 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 dividend payout ratio (DPR) is 16.39%.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 375 shares of the 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 completion of the transaction, the director now owns 37,966 shares in the company, valued at approximately $4,043,379. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total transaction of $482,161.68. Following the sale, the chief financial officer now owns 82,409 shares in the company, valued at $8,484,830.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total transaction of $39,937.50. Following the completion of the sale, the director now directly owns 37,966 shares in the company, valued at $4,043,379. The disclosure for this sale can be found here. Insiders own 37.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TNET. TD Cowen dropped their price objective 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. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price objective on shares of TriNet Group in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. reduced their target price on shares of TriNet Group from $107.00 to $103.00 and set an “underweight” rating for the company in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, TriNet Group presently has an average rating of “Hold” and an average target price of $118.40.

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.