Fmr LLC Acquires 2,506 Shares of TriNet Group, Inc. (NYSE:TNET)

Fmr LLC lifted its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 38.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,017 shares of the business services provider’s stock after purchasing an additional 2,506 shares during the quarter. Fmr LLC’s holdings in TriNet Group were worth $874,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. grew its stake in TriNet Group by 24.9% in the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock worth $52,000 after buying an additional 104 shares in the last quarter. Avion Wealth grew its position in TriNet Group by 19.2% in the second quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after acquiring an additional 129 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in TriNet Group by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 8,222 shares of the business services provider’s stock valued at $822,000 after acquiring an additional 142 shares during the last quarter. Arizona State Retirement System raised its position in TriNet Group by 2.0% during the second quarter. Arizona State Retirement System now owns 9,203 shares of the business services provider’s stock valued at $920,000 after purchasing an additional 180 shares in the last quarter. Finally, KBC Group NV lifted its stake in TriNet Group by 26.5% during the third quarter. KBC Group NV now owns 950 shares of the business services provider’s stock worth $92,000 after purchasing an additional 199 shares during the last quarter. 96.81% of the stock is currently owned by institutional investors.

TriNet Group Trading Down 4.1 %

Shares of TNET stock opened at $91.55 on Tuesday. The business has a 50-day moving average of $92.54 and a 200 day moving average of $97.64. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07. TriNet Group, Inc. has a 1-year low of $74.32 and a 1-year high of $134.67. The stock has a market capitalization of $4.54 billion, a PE ratio of 18.31 and a beta of 1.21.

TriNet Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, January 2nd. TriNet Group’s dividend payout ratio is 19.27%.

Analyst Upgrades and Downgrades

TNET has been the topic of several recent research reports. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $103.00 price objective on shares of TriNet Group in a research report on Tuesday, October 22nd. Needham & Company LLC cut shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a research report on Monday, October 28th. Finally, TD Cowen lifted their price target on shares of TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $117.00.

Insider Transactions at TriNet Group

In other news, CTO Jeffery Jon Hayward sold 2,345 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $93.03, for a total transaction of $218,155.35. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $86.23, for a total value of $32,336.25. Following the transaction, the director now owns 37,591 shares of the company’s stock, valued at approximately $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 90 days, insiders have sold 4,533 shares of company stock worth $418,629. Insiders own 37.10% of the company’s stock.

TriNet Group Company 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.