LPL Financial LLC Increases Stock Holdings in TriNet Group, Inc. (NYSE:TNET)

LPL Financial LLC grew its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,786 shares of the business services provider’s stock after buying an additional 597 shares during the quarter. LPL Financial LLC’s holdings in TriNet Group were worth $888,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthfront Advisers LLC bought a new stake in shares of TriNet Group during the fourth quarter worth $456,581,000. American Century Companies Inc. grew its stake in TriNet Group by 1,131.0% in the 4th quarter. American Century Companies Inc. now owns 302,947 shares of the business services provider’s stock worth $27,498,000 after acquiring an additional 278,338 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of TriNet Group during the fourth quarter worth approximately $15,875,000. Bank of New York Mellon Corp boosted its holdings in shares of TriNet Group by 82.7% in the fourth 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 purchasing an additional 100,728 shares during the period. Finally, Barclays PLC grew its stake in TriNet Group by 201.0% in the third quarter. Barclays PLC now owns 94,649 shares of the business services provider’s stock worth $9,179,000 after purchasing an additional 63,201 shares in the last quarter. 96.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TNET shares. 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 objective for the company from $104.00 to $74.00 in a report on Tuesday, February 18th.

TriNet Group Stock Down 2.9 %

Shares of TriNet Group stock opened at $74.22 on Tuesday. TriNet Group, Inc. has a 52-week low of $65.43 and a 52-week high of $130.83. The firm’s 50 day moving average price is $75.69 and its 200-day moving average price is $86.33. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 13.16. The company has a market cap of $3.59 billion, a P/E ratio of 21.70 and a beta of 1.06.

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, topping analysts’ consensus estimates of $0.25 by $0.02. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. The business had revenue of $252.00 million for the quarter, compared to the consensus estimate of $225.72 million. On average, sell-side analysts predict that TriNet Group, Inc. will post 3.04 EPS 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 dividend of $0.275 per share. This is a positive change from TriNet Group’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, April 1st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.48%. TriNet Group’s payout ratio is presently 32.16%.

Insider Activity

In other news, CTO Jeffery Jon Hayward sold 1,364 shares of the firm’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 $94,607.04. Following the completion of the transaction, the chief technology officer now directly owns 19,867 shares in the company, valued at $1,377,975.12. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 600 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $41,616.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Corporate 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.