Victory Capital Management Inc. Grows Stock Position in TriNet Group, Inc. (NYSE:TNET)

Victory Capital Management Inc. lifted its holdings in TriNet Group, Inc. (NYSE:TNET) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,759 shares of the business services provider’s stock after purchasing an additional 1,485 shares during the period. Victory Capital Management Inc.’s holdings in TriNet Group were worth $2,376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TNET. Principal Securities Inc. purchased a new stake in TriNet Group during the fourth quarter valued at approximately $26,000. Rothschild Investment LLC purchased a new stake in shares of TriNet Group in the 2nd quarter worth $45,000. Blue Trust Inc. raised its holdings in TriNet Group by 24.9% in the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock worth $52,000 after purchasing an additional 104 shares during the period. LRI Investments LLC purchased a new position in TriNet Group during the first quarter valued at $81,000. Finally, Avion Wealth lifted 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 in the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

TriNet Group Stock Performance

NYSE:TNET opened at $97.29 on Wednesday. The stock has a 50-day moving average price of $100.27 and a 200 day moving average price of $109.12. The stock has a market capitalization of $4.92 billion, a P/E ratio of 15.95 and a beta of 1.17. TriNet Group, Inc. has a 12-month low of $91.59 and a 12-month high of $134.67. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 9.84.

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

TriNet Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. TriNet Group’s dividend payout ratio is currently 16.39%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was 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 in the company, valued at $8,484,830.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, 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 owns 37,966 shares of the company’s stock, valued at $4,043,379. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total transaction of $482,161.68. Following the transaction, the chief financial officer now owns 82,409 shares of the company’s stock, valued at approximately $8,484,830.64. The disclosure for this sale can be found here. Corporate insiders own 37.10% of the company’s stock.

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.