Bank of New York Mellon Corp Grows Holdings in TriNet Group, Inc. (NYSE:TNET)

Bank of New York Mellon Corp grew its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 82.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 222,458 shares of the business services provider’s stock after purchasing an additional 100,728 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.45% of TriNet Group worth $20,193,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TNET. Massachusetts Financial Services Co. MA raised its stake in shares of TriNet Group by 32.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider’s stock valued at $156,018,000 after acquiring an additional 391,720 shares in the last quarter. Wellington Management Group LLP raised its position in TriNet Group by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,321,737 shares of the business services provider’s stock valued at $128,169,000 after purchasing an additional 184,186 shares in the last quarter. Simcoe Capital Management LLC purchased a new stake in shares of TriNet Group in the 3rd quarter worth $16,966,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of TriNet Group by 41.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 550,404 shares of the business services provider’s stock worth $53,373,000 after buying an additional 162,578 shares during the period. Finally, Stadium Capital Management LLC grew its position in shares of TriNet Group by 821.8% during the 3rd quarter. Stadium Capital Management LLC now owns 100,823 shares of the business services provider’s stock worth $9,777,000 after buying an additional 89,885 shares in the last quarter. 96.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TNET. Needham & Company LLC reaffirmed a “hold” rating on shares of TriNet Group in a research report on Friday, February 14th. TD Cowen lowered TriNet Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $104.00 to $74.00 in a report on Tuesday, February 18th.

TriNet Group Price Performance

Shares of TNET opened at $74.15 on Tuesday. The company has a market capitalization of $3.67 billion, a P/E ratio of 21.68 and a beta of 1.26. The business’s 50-day moving average is $85.22 and its two-hundred day moving average is $90.96. The company has a debt-to-equity ratio of 13.16, a quick ratio of 1.07 and a current ratio of 1.07. TriNet Group, Inc. has a fifty-two week low of $65.43 and a fifty-two week high of $134.67.

TriNet Group (NYSE:TNET) last posted its earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The firm had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $225.72 million. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. Research analysts predict that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. TriNet Group’s dividend payout ratio is currently 29.24%.

Insider Transactions at TriNet Group

In related news, Director Paul Edward Chamberlain sold 600 shares of TriNet Group stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $41,616.00. Following the transaction, the director now owns 36,991 shares in the company, valued at approximately $2,565,695.76. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $94,607.04. Following the transaction, the chief technology officer now directly owns 19,867 shares in the company, valued at approximately $1,377,975.12. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,748 shares of company stock valued at $833,436 over the last 90 days. Corporate insiders own 37.10% of the company’s stock.

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.