TriNet Group, Inc. (NYSE:TNET) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in TriNet Group, Inc. (NYSE:TNET) by 1.8% in the fourth quarter, HoldingsChannel reports. The fund owned 19,071 shares of the business services provider’s stock after selling 351 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in TriNet Group were worth $1,731,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc lifted its stake in shares of TriNet Group by 45.5% in the 4th quarter. IFP Advisors Inc now owns 767 shares of the business services provider’s stock worth $71,000 after acquiring an additional 240 shares during the period. Avion Wealth lifted its stake in TriNet Group by 14.9% during the fourth quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock valued at $98,000 after purchasing an additional 140 shares during the last quarter. KBC Group NV lifted its stake 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 valued at $124,000 after purchasing an additional 415 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in TriNet Group by 118.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,446 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 785 shares during the last quarter. Finally, Xponance Inc. lifted its stake in TriNet Group by 17.8% during the fourth quarter. Xponance Inc. now owns 2,456 shares of the business services provider’s stock valued at $223,000 after purchasing an additional 371 shares during the last quarter. 96.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TriNet Group

In other news, CTO Jeffery Jon Hayward sold 1,364 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $94,607.04. Following the transaction, the chief technology officer now owns 19,867 shares in the company, valued at $1,377,975.12. This represents a 6.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 600 shares of the stock in a transaction 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 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. Company insiders own 38.10% of the company’s stock.

Wall Street Analysts Forecast Growth

TNET has been the subject of several recent research reports. TD Cowen lowered shares of TriNet Group from a “buy” rating to a “hold” rating and cut their target price for the company from $104.00 to $74.00 in a research note on Tuesday, February 18th. Needham & Company LLC reissued a “hold” rating on shares of TriNet Group in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of TriNet Group from $75.00 to $76.00 and gave the company an “underweight” rating in a research note on Monday, April 28th.

TriNet Group Stock Down 0.2%

TNET stock opened at $82.02 on Monday. TriNet Group, Inc. has a 52-week low of $65.43 and a 52-week high of $116.26. The company’s 50 day simple moving average is $77.46 and its 200-day simple moving average is $84.74. The company has a debt-to-equity ratio of 13.16, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $3.97 billion, a P/E ratio of 23.98 and a beta of 0.91.

TriNet Group (NYSE:TNET) last released its quarterly earnings results on Friday, April 25th. The business services provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.32. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $319.36 million. During the same quarter in the previous year, the business earned $2.18 earnings per share. As a group, equities research analysts anticipate that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, April 1st. This is a positive change from TriNet Group’s previous quarterly dividend of $0.25. TriNet Group’s dividend payout ratio is currently 32.84%.

TriNet Group Company 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.