Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in TriNet Group, Inc. (NYSE:TNET)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in TriNet Group, Inc. (NYSE:TNET) by 11.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,442 shares of the business services provider’s stock after acquiring an additional 872 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TriNet Group were worth $766,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TNET. Massachusetts Financial Services Co. MA lifted its position in TriNet Group by 32.2% during 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. Wellington Management Group LLP lifted its position in TriNet Group by 16.2% during 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. Jacobs Levy Equity Management Inc. lifted its position in TriNet Group by 41.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 550,404 shares of the business services provider’s stock valued at $53,373,000 after acquiring an additional 162,578 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in TriNet Group by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 493,836 shares of the business services provider’s stock valued at $44,825,000 after acquiring an additional 20,483 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in TriNet Group by 11.4% during the third quarter. JPMorgan Chase & Co. now owns 385,335 shares of the business services provider’s stock valued at $37,366,000 after acquiring an additional 39,351 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of TriNet Group in a research report on Thursday, March 13th. TD Cowen lowered shares of TriNet Group from a “buy” rating to a “hold” rating and cut their price target for the company from $104.00 to $74.00 in a research note on Tuesday, February 18th.

TriNet Group Trading Down 2.8 %

Shares of TriNet Group 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 12-month low of $65.43 and a 12-month high of $134.67. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 22.42 and a beta of 1.26. The firm’s 50 day simple moving average is $82.68 and its two-hundred day simple moving average is $89.48.

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 analysts’ consensus estimates of $0.25 by $0.02. The firm 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%. Analysts predict that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group Increases Dividend

The firm 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 $0.275 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.43%. This is a positive change from TriNet Group’s previous quarterly dividend of $0.25. TriNet Group’s dividend payout ratio is presently 29.24%.

Insider Transactions at TriNet Group

In related news, Director Paul Edward Chamberlain sold 600 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $41,616.00. Following the sale, the director now owns 36,991 shares in the company, valued at approximately $2,565,695.76. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeffery Jon Hayward sold 7,784 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $89.57, for a total transaction of $697,212.88. Following the sale, the chief technology officer now owns 21,769 shares in the company, valued at approximately $1,949,849.33. This represents a 26.34 % 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 over the last 90 days. 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.