Victory Capital Management Inc. Has $541,000 Stake in TriNet Group, Inc. (NYSE:TNET)

Victory Capital Management Inc. lowered its stake in TriNet Group, Inc. (NYSE:TNET) by 62.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,963 shares of the business services provider’s stock after selling 10,115 shares during the quarter. Victory Capital Management Inc.’s holdings in TriNet Group were worth $541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of TriNet Group by 11.4% in the third quarter. JPMorgan Chase & Co. now owns 385,335 shares of the business services provider’s stock valued at $37,366,000 after purchasing an additional 39,351 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in TriNet Group by 32.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider’s stock valued at $156,018,000 after acquiring an additional 391,720 shares during the last quarter. Simcoe Capital Management LLC bought a new position in TriNet Group in the third quarter valued at approximately $16,966,000. Tidal Investments LLC boosted its stake in TriNet Group by 5.4% in the third quarter. Tidal Investments LLC now owns 5,121 shares of the business services provider’s stock valued at $495,000 after acquiring an additional 263 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake 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 valued at $128,169,000 after acquiring an additional 184,186 shares during the last quarter. Institutional investors and hedge funds own 96.81% of the company’s stock.

TriNet Group Stock Down 2.8 %

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

TriNet Group (NYSE:TNET) last released its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. The company had revenue of $252.00 million for the quarter, compared to analyst estimates of $225.72 million. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. On average, equities analysts predict that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.275 per share. The ex-dividend date is Tuesday, April 1st. This is a positive change from TriNet Group’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 1.43%. TriNet Group’s payout ratio is currently 29.24%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TNET shares. TD Cowen cut shares of TriNet Group from a “buy” rating to a “hold” rating and reduced their price target for the stock 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 report on Thursday, March 13th.

Insider Transactions at TriNet Group

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,364 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $94,607.04. Following the completion of the sale, the chief technology officer now owns 19,867 shares of the company’s stock, valued at $1,377,975.12. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 600 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $41,616.00. Following the completion of the sale, the director now directly owns 36,991 shares of the company’s stock, valued at $2,565,695.76. This represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,748 shares of company stock worth $833,436 in the last ninety days. Insiders own 37.10% of the company’s stock.

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.