Allspring Global Investments Holdings LLC Cuts Holdings in TriNet Group, Inc. (NYSE:TNET)

Allspring Global Investments Holdings LLC lowered its position in TriNet Group, Inc. (NYSE:TNET) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,189 shares of the business services provider’s stock after selling 266 shares during the period. Allspring Global Investments Holdings LLC’s holdings in TriNet Group were worth $406,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings in shares of TriNet Group by 23.2% during the first quarter. BNP Paribas Financial Markets now owns 43,952 shares of the business services provider’s stock worth $5,823,000 after purchasing an additional 8,275 shares during the last quarter. Jennison Associates LLC increased its position in shares of TriNet Group by 1.8% during the first quarter. Jennison Associates LLC now owns 5,663 shares of the business services provider’s stock worth $750,000 after acquiring an additional 99 shares during the last quarter. Quantbot Technologies LP acquired a new position in TriNet Group in the first quarter worth about $1,936,000. ProShare Advisors LLC grew its stake in TriNet Group by 8.5% in the first quarter. ProShare Advisors LLC now owns 5,755 shares of the business services provider’s stock worth $762,000 after purchasing an additional 452 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in TriNet Group in the first quarter valued at approximately $581,000. Institutional investors and hedge funds own 96.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TNET. JPMorgan Chase & Co. restated an “underweight” rating and issued a $103.00 target price on shares of TriNet Group in a research note on Tuesday, October 22nd. TD Cowen dropped their price target on TriNet Group from $110.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Needham & Company LLC cut TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.20.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $86.23, for a total transaction of $32,336.25. Following the transaction, the director now directly owns 37,591 shares in the company, valued at $3,241,471.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $86.23, for a total transaction of $32,336.25. Following the transaction, the director now directly owns 37,591 shares in the company, valued at $3,241,471.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the business’s 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 in the company, valued at approximately $8,484,830.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 37.10% of the company’s stock.

TriNet Group Trading Down 1.0 %

NYSE TNET opened at $84.03 on Friday. TriNet Group, Inc. has a twelve month low of $74.32 and a twelve month high of $134.67. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.04 and a current ratio of 1.07. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 16.19 and a beta of 1.20. The firm’s 50 day moving average price is $95.46 and its two-hundred day moving average price is $101.19.

TriNet Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.19%. The ex-dividend date was Tuesday, October 1st. TriNet Group’s payout ratio is 19.27%.

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.