Point72 Hong Kong Ltd Has $2.07 Million Position in TriNet Group, Inc. (NYSE:TNET)

Point72 Hong Kong Ltd boosted its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 49.9% in the third quarter, Holdings Channel reports. The firm owned 21,322 shares of the business services provider’s stock after acquiring an additional 7,095 shares during the period. Point72 Hong Kong Ltd’s holdings in TriNet Group were worth $2,068,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Rothschild Investment LLC bought a new position in shares of TriNet Group in the second quarter worth about $45,000. Blue Trust Inc. increased its position 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 during the period. Avion Wealth increased its position in TriNet Group by 19.2% in the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after buying an additional 129 shares during the period. KBC Group NV lifted its holdings in shares of 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 buying an additional 199 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of TriNet Group in the second quarter valued at approximately $93,000. Institutional investors and hedge funds own 96.81% of the company’s stock.

TriNet Group Stock Up 0.6 %

Shares of TNET stock opened at $93.43 on Monday. The stock has a market cap of $4.63 billion, a P/E ratio of 18.00 and a beta of 1.20. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a fifty day moving average price of $92.97 and a 200 day moving average price of $98.44. TriNet Group, Inc. has a one year low of $74.32 and a one year high of $134.67.

TriNet Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. TriNet Group’s dividend payout ratio (DPR) is currently 19.27%.

Analysts Set New Price Targets

Several research firms recently commented on TNET. Needham & Company LLC cut shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 target price for the company. in a research note on Monday, October 28th. TD Cowen boosted their price objective on shares of 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. reiterated an “underweight” rating and issued a $103.00 target price on shares of TriNet Group in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $117.00.

Insider Activity at TriNet Group

In other news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction 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 sale, the director now owns 37,591 shares in the company, valued at approximately $3,241,471.93. The trade was a 0.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeffery Jon Hayward sold 1,813 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $92.74, for a total transaction of $168,137.62. Following the completion of the sale, the chief technology officer now directly owns 36,951 shares in the company, valued at approximately $3,426,835.74. The trade was a 4.68 % decrease in their position. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by insiders.

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.