Bank of America Corp DE Buys 8,299 Shares of TriNet Group, Inc. (NYSE:TNET)

Bank of America Corp DE boosted its holdings in TriNet Group, Inc. (NYSE:TNET) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 184,032 shares of the business services provider’s stock after purchasing an additional 8,299 shares during the quarter. Bank of America Corp DE’s holdings in TriNet Group were worth $16,705,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. IFP Advisors Inc boosted its holdings in TriNet Group by 45.5% during 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 last quarter. Avion Wealth raised its stake in shares of TriNet Group by 14.9% during the 4th quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock worth $98,000 after purchasing an additional 140 shares during the period. KBC Group NV boosted its holdings in shares of TriNet Group by 43.7% in the 4th quarter. KBC Group NV now owns 1,365 shares of the business services provider’s stock worth $124,000 after buying an additional 415 shares during the last quarter. PNC Financial Services Group Inc. grew its position 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 buying an additional 785 shares during the period. Finally, Xponance Inc. increased its holdings in TriNet Group by 17.8% during the fourth quarter. Xponance Inc. now owns 2,456 shares of the business services provider’s stock worth $223,000 after buying an additional 371 shares during the last quarter. Institutional investors own 96.81% of the company’s stock.

Insider Activity at TriNet Group

In related news, Director Paul Edward Chamberlain sold 600 shares of TriNet Group stock in a transaction dated 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 transaction, the director now directly owns 36,991 shares of the company’s stock, valued at $2,565,695.76. This trade represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was 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 in the company, valued at $1,377,975.12. The trade was a 6.42% decrease in their position. The disclosure for this sale can be found here. 38.10% of the stock is currently owned by company insiders.

TriNet Group Stock Down 1.2%

TNET opened at $85.37 on Wednesday. TriNet Group, Inc. has a 12 month low of $65.43 and a 12 month high of $116.26. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16. The business’s 50-day moving average price is $79.03 and its 200-day moving average price is $84.80. The company has a market cap of $4.13 billion, a P/E ratio of 24.96 and a beta of 0.91.

TriNet Group (NYSE:TNET) last issued its earnings results on Friday, April 25th. The business services provider reported $1.99 EPS for the quarter, topping the consensus estimate of $1.67 by $0.32. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $319.36 million. During the same period in the previous year, the firm earned $2.18 earnings per share. On average, equities analysts expect that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Tuesday, April 1st were paid a $0.275 dividend. This is a positive change from TriNet Group’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, April 1st. This represents a $1.10 dividend on an annualized basis and a yield of 1.29%. TriNet Group’s dividend payout ratio (DPR) is presently 32.84%.

Analysts Set New Price Targets

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

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.