Principal Financial Group Inc. Sells 18,892 Shares of TriNet Group, Inc. (NYSE:TNET)

Principal Financial Group Inc. lessened its position in TriNet Group, Inc. (NYSE:TNET) by 86.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,967 shares of the business services provider’s stock after selling 18,892 shares during the period. Principal Financial Group Inc.’s holdings in TriNet Group were worth $288,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Wedge Capital Management L L P NC increased 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 buying an additional 20,680 shares during the last quarter. Boston Partners raised its stake in TriNet Group by 20.8% in the 1st quarter. Boston Partners now owns 108,157 shares of the business services provider’s stock valued at $14,319,000 after acquiring an additional 18,586 shares during the period. US Bancorp DE lifted its holdings in TriNet Group by 9,893.1% during the 3rd quarter. US Bancorp DE now owns 7,195 shares of the business services provider’s stock valued at $698,000 after purchasing an additional 7,123 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in TriNet Group by 276.7% during the second quarter. Harbor Capital Advisors Inc. now owns 9,439 shares of the business services provider’s stock worth $944,000 after purchasing an additional 6,933 shares during the period. Finally, Chase Investment Counsel Corp acquired a new position in shares of TriNet Group in the second quarter valued at $875,000. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Needham & Company LLC downgraded shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research report on Monday, October 28th. TD Cowen lifted 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, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $103.00 target price 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 issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $117.00.

TriNet Group Stock Performance

NYSE:TNET opened at $94.03 on Tuesday. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 18.12 and a beta of 1.20. TriNet Group, Inc. has a fifty-two week low of $74.32 and a fifty-two week 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. The stock has a fifty day moving average price of $93.41 and a 200-day moving average price of $98.76.

TriNet Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Tuesday, October 1st. TriNet Group’s payout ratio is presently 19.27%.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction 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 $3,241,471.93. This trade represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the transaction, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. This represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by company insiders.

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.