Massachusetts Financial Services Co. MA Raises Stock Position in TriNet Group, Inc. (NYSE:TNET)

Massachusetts Financial Services Co. MA lifted its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 9.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,217,214 shares of the business services provider’s stock after purchasing an additional 103,809 shares during the period. Massachusetts Financial Services Co. MA owned about 2.45% of TriNet Group worth $121,721,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TNET. Jane Street Group LLC increased its stake in shares of TriNet Group by 67.7% during the 1st quarter. Jane Street Group LLC now owns 1,149,929 shares of the business services provider’s stock worth $152,354,000 after purchasing an additional 464,289 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of TriNet Group by 960.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,003 shares of the business services provider’s stock worth $31,269,000 after purchasing an additional 213,752 shares in the last quarter. Norges Bank acquired a new stake in TriNet Group during the fourth quarter worth approximately $19,650,000. Earnest Partners LLC boosted its position in TriNet Group by 19.8% during the first quarter. Earnest Partners LLC now owns 898,335 shares of the business services provider’s stock worth $119,020,000 after acquiring an additional 148,779 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in TriNet Group by 1.9% during the first quarter. Vanguard Group Inc. now owns 2,838,347 shares of the business services provider’s stock worth $376,053,000 after acquiring an additional 52,240 shares during the last quarter. 96.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at TriNet Group

In related news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group 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 transaction, the director now owns 37,966 shares in the company, valued at approximately $4,043,379. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group 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 approximately $4,043,379. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group 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 directly owns 82,409 shares in the company, valued at approximately $8,484,830.64. The disclosure for this sale can be found here. Company insiders own 37.10% of the company’s stock.

TriNet Group Stock Up 0.4 %

Shares of TNET opened at $97.65 on Thursday. The firm has a market cap of $4.85 billion, a PE ratio of 16.01 and a beta of 1.17. The company’s fifty day moving average is $100.28 and its two-hundred day moving average is $109.04. TriNet Group, Inc. has a fifty-two week low of $91.59 and a fifty-two week high of $134.67. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 9.84.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.29. The company had revenue of $310.00 million for 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%. Analysts forecast that TriNet Group, Inc. will post 5.13 earnings per share for the current year.

TriNet Group Dividend Announcement

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

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.