Renaissance Technologies LLC Sells 59,000 Shares of TriNet Group, Inc. (NYSE:TNET)

Renaissance Technologies LLC cut its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 53.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,700 shares of the business services provider’s stock after selling 59,000 shares during the period. Renaissance Technologies LLC owned approximately 0.10% of TriNet Group worth $5,070,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of TriNet Group by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 2,838,347 shares of the business services provider’s stock valued at $376,053,000 after purchasing an additional 52,240 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in TriNet Group by 9.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,217,214 shares of the business services provider’s stock valued at $121,721,000 after buying an additional 103,809 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of TriNet Group by 67.7% in the first quarter. Jane Street Group LLC now owns 1,149,929 shares of the business services provider’s stock valued at $152,354,000 after buying an additional 464,289 shares during the period. Earnest Partners LLC increased its position in shares of 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of TriNet Group by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 823,019 shares of the business services provider’s stock worth $82,304,000 after acquiring an additional 9,386 shares during the period. 96.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen cut their price target on 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 reaffirmed a “buy” rating and set a $140.00 price target on shares of TriNet Group in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of TriNet Group from $107.00 to $103.00 and set an “underweight” rating on the stock in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $118.40.

Insider Buying and Selling at TriNet Group

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

TriNet Group Stock Up 0.6 %

NYSE:TNET opened at $96.21 on Friday. TriNet Group, Inc. has a twelve month low of $91.59 and a twelve month high of $134.67. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 15.77 and a beta of 1.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 9.84. The stock’s 50 day moving average price is $99.11 and its two-hundred day moving average price is $107.94.

TriNet Group (NYSE:TNET) last posted 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 firm 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%. Equities research analysts expect that TriNet Group, Inc. will post 5.13 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 1.04%. TriNet Group’s dividend payout ratio is 16.39%.

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.