PNC Financial Services Group Inc. Purchases 785 Shares of TriNet Group, Inc. (NYSE:TNET)

PNC Financial Services Group Inc. lifted its position in shares of TriNet Group, Inc. (NYSE:TNET) by 118.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,446 shares of the business services provider’s stock after purchasing an additional 785 shares during the period. PNC Financial Services Group Inc.’s holdings in TriNet Group were worth $131,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its holdings in TriNet Group by 25.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 595 shares of the business services provider’s stock valued at $58,000 after buying an additional 121 shares in the last quarter. IFP Advisors Inc boosted its position in shares of TriNet Group by 45.5% in the fourth quarter. IFP Advisors Inc now owns 767 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 240 shares during the period. Avion Wealth grew its stake in shares of TriNet Group by 14.9% in the fourth quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock valued at $98,000 after acquiring an additional 140 shares in the last quarter. KBC Group NV increased its position in TriNet Group by 43.7% during the fourth quarter. KBC Group NV now owns 1,365 shares of the business services provider’s stock worth $124,000 after acquiring an additional 415 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in TriNet Group in the 4th quarter worth about $230,000. 96.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at TriNet Group

In related news, CTO Jeffery Jon Hayward sold 7,784 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was 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 of the company’s stock, valued at $1,949,849.33. This trade represents a 26.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paul Edward Chamberlain sold 600 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total value of $41,616.00. Following the completion of the transaction, the director now directly owns 36,991 shares of the company’s stock, valued at approximately $2,565,695.76. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,748 shares of company stock valued at $833,436. 37.10% of the stock is currently owned by insiders.

TriNet Group Price Performance

TNET stock opened at $79.92 on Tuesday. The company’s 50-day moving average price is $82.44 and its two-hundred day moving average price is $89.22. The firm has a market cap of $3.96 billion, a P/E ratio of 23.37 and a beta of 1.26. The company has a quick ratio of 1.07, a current 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.

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

TriNet Group Increases Dividend

The firm also recently declared 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. This is a positive change from TriNet Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $1.10 annualized dividend and a dividend yield of 1.38%. TriNet Group’s dividend payout ratio (DPR) is presently 32.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TNET shares. TD Cowen lowered shares of TriNet Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $104.00 to $74.00 in a research report on Tuesday, February 18th. Needham & Company LLC restated a “hold” rating on shares of TriNet Group in a research note on Thursday, March 13th.

TriNet Group 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.