JPMorgan Chase & Co. Cuts Stock Holdings in TriNet Group, Inc. (NYSE:TNET)

JPMorgan Chase & Co. cut its position in shares of TriNet Group, Inc. (NYSE:TNET) by 34.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 252,228 shares of the business services provider’s stock after selling 133,107 shares during the quarter. JPMorgan Chase & Co.’s holdings in TriNet Group were worth $22,895,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Tidal Investments LLC lifted its position in shares of TriNet Group by 5.4% in the 3rd quarter. Tidal Investments LLC now owns 5,121 shares of the business services provider’s stock worth $495,000 after purchasing an additional 263 shares during the period. Vanguard Group Inc. increased its position in TriNet Group by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 2,992,008 shares of the business services provider’s stock valued at $271,585,000 after acquiring an additional 36,216 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of TriNet Group by 4.2% in the 4th quarter. Nordea Investment Management AB now owns 160,991 shares of the business services provider’s stock worth $14,732,000 after purchasing an additional 6,420 shares during the period. Bank of New York Mellon Corp grew its position in shares of TriNet Group by 82.7% during the 4th quarter. Bank of New York Mellon Corp now owns 222,458 shares of the business services provider’s stock valued at $20,193,000 after acquiring an additional 100,728 shares during the period. Finally, Franklin Resources Inc. increased its position in TriNet Group by 3.4% in the third quarter. Franklin Resources Inc. now owns 5,086 shares of the business services provider’s stock worth $499,000 after buying an additional 169 shares in the last quarter. 96.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

TriNet Group Stock Up 7.2 %

NYSE:TNET opened at $77.92 on Thursday. The company has a debt-to-equity ratio of 13.16, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $3.86 billion, a P/E ratio of 22.78 and a beta of 1.06. The company’s 50-day simple moving average is $77.98 and its 200-day simple moving average is $87.47. TriNet Group, Inc. has a fifty-two week low of $65.43 and a fifty-two week high of $131.27.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be paid a $0.275 dividend. This is a boost from TriNet Group’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Tuesday, April 1st. TriNet Group’s payout ratio is currently 32.16%.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 600 shares of the company’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 completion of the sale, the director now owns 36,991 shares of the company’s stock, valued at $2,565,695.76. This represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the company’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 $94,607.04. Following the sale, the chief technology officer now directly owns 19,867 shares of the company’s stock, valued at approximately $1,377,975.12. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,748 shares of company stock worth $833,436. Company 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.