TriNet Group, Inc. (NYSE:TNET) Stake Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 62.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,963 shares of the business services provider’s stock after selling 10,115 shares during the period. Victory Capital Management Inc.’s holdings in TriNet Group were worth $541,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its position 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 worth $156,018,000 after buying an additional 391,720 shares during the period. Wellington Management Group LLP lifted its position in TriNet Group by 16.2% in the third quarter. Wellington Management Group LLP now owns 1,321,737 shares of the business services provider’s stock worth $128,169,000 after purchasing an additional 184,186 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in TriNet Group by 41.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 550,404 shares of the business services provider’s stock worth $53,373,000 after purchasing an additional 162,578 shares during the period. Charles Schwab Investment Management Inc. lifted its position in TriNet Group by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 493,836 shares of the business services provider’s stock worth $44,825,000 after purchasing an additional 20,483 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in TriNet Group by 11.4% in the third quarter. JPMorgan Chase & Co. now owns 385,335 shares of the business services provider’s stock worth $37,366,000 after purchasing an additional 39,351 shares during the period. 96.81% of the stock is currently owned by institutional investors and hedge funds.

TriNet Group Trading Down 2.8 %

NYSE TNET opened at $76.67 on Friday. TriNet Group, Inc. has a 1-year low of $65.43 and a 1-year high of $134.67. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16. The company has a market capitalization of $3.80 billion, a PE ratio of 22.42 and a beta of 1.26. The firm’s fifty day simple moving average is $82.68 and its 200-day simple moving average is $89.48.

TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $252.00 million for the quarter, compared to the consensus estimate of $225.72 million. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. As a group, sell-side analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.43%. This is an increase from TriNet Group’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, April 1st. TriNet Group’s dividend payout ratio is presently 29.24%.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 600 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $41,616.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeffery Jon Hayward sold 7,784 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $89.57, for a total transaction of $697,212.88. Following the completion of the sale, the chief technology officer now owns 21,769 shares of the company’s stock, valued at approximately $1,949,849.33. The trade was a 26.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,748 shares of company stock valued at $833,436 over the last three months. 37.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TNET shares. TD Cowen downgraded TriNet Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $104.00 to $74.00 in a research report on Tuesday, February 18th. Needham & Company LLC reissued a “hold” rating on shares of TriNet Group in a research note on Thursday, March 13th.

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.