Summit Trail Advisors LLC Reduces Stake in TriNet Group, Inc. (NYSE:TNET)

Summit Trail Advisors LLC trimmed its position in shares of TriNet Group, Inc. (NYSE:TNET) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 137,963 shares of the business services provider’s stock after selling 3,010 shares during the quarter. Summit Trail Advisors LLC owned approximately 0.28% of TriNet Group worth $13,796,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in TriNet Group by 23.2% in the 1st quarter. BNP Paribas Financial Markets now owns 43,952 shares of the business services provider’s stock valued at $5,823,000 after purchasing an additional 8,275 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in TriNet Group by 14.5% during the second quarter. Wedge Capital Management L L P NC now owns 163,600 shares of the business services provider’s stock worth $16,360,000 after acquiring an additional 20,680 shares during the last quarter. Boston Partners boosted its position in TriNet Group by 20.8% during the first quarter. Boston Partners now owns 108,157 shares of the business services provider’s stock worth $14,319,000 after acquiring an additional 18,586 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in TriNet Group by 276.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,439 shares of the business services provider’s stock worth $944,000 after acquiring an additional 6,933 shares during the period. Finally, Van ECK Associates Corp raised its holdings in TriNet Group by 108.1% in the 1st quarter. Van ECK Associates Corp now owns 49,289 shares of the business services provider’s stock valued at $6,531,000 after acquiring an additional 25,606 shares during the last quarter. Institutional investors and hedge funds own 96.81% of the company’s stock.

TriNet Group Stock Down 1.6 %

Shares of NYSE:TNET opened at $96.79 on Friday. The stock has a 50-day simple moving average of $100.14 and a 200-day simple moving average of $108.76. The stock has a market capitalization of $4.81 billion, a P/E ratio of 15.87 and a beta of 1.17. TriNet Group, Inc. has a 1 year low of $91.59 and a 1 year high of $134.67. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.04 and a current ratio of 1.04.

TriNet Group (NYSE:TNET) last released its quarterly earnings data on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.29. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. The company had revenue of $310.00 million during the quarter, compared to the consensus estimate of $301.76 million. Equities analysts forecast that TriNet Group, Inc. will post 5.13 earnings per share for the current year.

TriNet Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 1st will be issued a $0.25 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 1.03%. TriNet Group’s dividend payout ratio is currently 16.39%.

Insider Buying and Selling at TriNet Group

In other news, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total value of $39,937.50. Following the completion of the sale, the director now owns 37,966 shares of the company’s stock, valued at $4,043,379. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group 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 sale, the chief financial officer now owns 82,409 shares of the company’s stock, valued at approximately $8,484,830.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total transaction of $39,937.50. Following the completion of the transaction, the director now directly owns 37,966 shares of the company’s stock, valued at $4,043,379. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TNET has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of TriNet Group in a report on Wednesday, September 11th. JPMorgan Chase & Co. cut their price objective on shares of TriNet Group from $107.00 to $103.00 and set an “underweight” rating on the stock in a report on Tuesday, August 20th. Finally, TD Cowen dropped their price target on shares of TriNet Group from $132.00 to $118.00 and set a “buy” rating for the company in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $118.40.

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.