JPMorgan Chase & Co. Has $37.37 Million Position in TriNet Group, Inc. (NYSE:TNET)

JPMorgan Chase & Co. grew its holdings in TriNet Group, Inc. (NYSE:TNET) by 11.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 385,335 shares of the business services provider’s stock after buying an additional 39,351 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.78% of TriNet Group worth $37,366,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in TriNet Group by 11.9% during the 2nd quarter. Principal Financial Group Inc. now owns 21,859 shares of the business services provider’s stock worth $2,186,000 after buying an additional 2,320 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of TriNet Group by 4.3% during the second quarter. Rhumbline Advisers now owns 49,253 shares of the business services provider’s stock valued at $4,925,000 after acquiring an additional 2,051 shares during the period. Chase Investment Counsel Corp bought a new position in TriNet Group in the second quarter valued at about $875,000. Victory Capital Management Inc. raised its holdings in TriNet Group by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 23,759 shares of the business services provider’s stock worth $2,376,000 after purchasing an additional 1,485 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in TriNet Group by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 9,203 shares of the business services provider’s stock worth $920,000 after purchasing an additional 180 shares during the last quarter. 96.81% of the stock is owned by institutional investors.

TriNet Group Trading Down 1.6 %

TNET opened at $89.92 on Tuesday. The firm’s fifty day moving average is $91.32 and its two-hundred day moving average is $96.18. The firm has a market cap of $4.46 billion, a PE ratio of 17.33 and a beta of 1.21. 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 1.07 and a current ratio of 1.07.

TriNet Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, January 2nd. This represents a $1.00 annualized dividend and a yield of 1.11%. TriNet Group’s dividend payout ratio is presently 19.27%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Needham & Company LLC cut shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price target for the company. in a research report on Monday, October 28th. TD Cowen upped their target price on shares of TriNet Group from $92.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $103.00 price target on shares of TriNet Group in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TriNet Group has a consensus rating of “Hold” and a consensus target price of $117.00.

Insider Buying and Selling at TriNet Group

In related news, CTO Jeffery Jon Hayward sold 2,345 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $93.03, for a total value of $218,155.35. Following the sale, the chief technology officer now directly owns 34,606 shares of the company’s stock, valued at approximately $3,219,396.18. The trade was a 6.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $86.23, for a total value of $32,336.25. Following the completion of the sale, the director now directly owns 37,591 shares in the company, valued at $3,241,471.93. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,533 shares of company stock valued at $418,629. Company insiders own 37.10% of the company’s stock.

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.