Victory Capital Management Inc. Sells 7,681 Shares of TriNet Group, Inc. (NYSE:TNET)

Victory Capital Management Inc. trimmed its position in TriNet Group, Inc. (NYSE:TNET) by 32.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,078 shares of the business services provider’s stock after selling 7,681 shares during the period. Victory Capital Management Inc.’s holdings in TriNet Group were worth $1,559,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in TriNet Group by 960.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 236,003 shares of the business services provider’s stock valued at $31,269,000 after purchasing an additional 213,752 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of TriNet Group in the 2nd quarter worth about $20,610,000. Massachusetts Financial Services Co. MA raised its holdings in TriNet Group by 9.3% during the 2nd 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 during the period. Select Equity Group L.P. purchased a new position in shares of TriNet Group during the second quarter valued at approximately $6,652,000. Finally, Vanguard Group Inc. boosted its position in TriNet Group by 1.9% in 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 buying an additional 52,240 shares during the period. Institutional investors own 96.81% of the company’s stock.

Insider Buying and Selling

In other news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total transaction of $32,336.25. Following the sale, the director now owns 37,591 shares of the company’s stock, valued at approximately $3,241,471.93. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the business’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 sale, the chief financial officer now owns 82,409 shares in the company, valued at $8,484,830.64. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by insiders.

TriNet Group Stock Performance

Shares of TNET opened at $94.03 on Tuesday. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 18.12 and a beta of 1.20. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.07 and a current ratio of 1.07. TriNet Group, Inc. has a 1 year low of $74.32 and a 1 year high of $134.67. The company’s 50 day simple moving average is $93.41 and its 200 day simple moving average is $98.76.

TriNet Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 1.06%. TriNet Group’s dividend payout ratio is currently 19.27%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TNET. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $103.00 price objective on shares of TriNet Group in a research report on Tuesday, October 22nd. TD Cowen raised their target price on TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Needham & Company LLC lowered shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 target price on the stock. in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $117.00.

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.