New York State Common Retirement Fund Reduces Holdings in TriNet Group, Inc. (NYSE:TNET)

New York State Common Retirement Fund reduced its position in TriNet Group, Inc. (NYSE:TNET) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,283 shares of the business services provider’s stock after selling 370 shares during the period. New York State Common Retirement Fund owned approximately 0.22% of TriNet Group worth $9,738,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its holdings in TriNet Group by 32.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider’s stock valued at $156,018,000 after purchasing an additional 391,720 shares during the last quarter. Wellington Management Group LLP raised its position in shares of TriNet Group by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,321,737 shares of the business services provider’s stock valued at $128,169,000 after purchasing an additional 184,186 shares in the last quarter. Simcoe Capital Management LLC acquired a new position in shares of TriNet Group in the 3rd quarter valued at approximately $16,966,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of TriNet Group by 41.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 550,404 shares of the business services provider’s stock valued at $53,373,000 after buying an additional 162,578 shares during the last quarter. Finally, Stadium Capital Management LLC grew its position in shares of TriNet Group by 821.8% during the third quarter. Stadium Capital Management LLC now owns 100,823 shares of the business services provider’s stock worth $9,777,000 after buying an additional 89,885 shares in the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.

TriNet Group Price Performance

Shares of NYSE TNET opened at $71.78 on Wednesday. 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 company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 20.99 and a beta of 1.21. TriNet Group, Inc. has a twelve month low of $65.43 and a twelve month high of $134.67. The business has a 50 day simple moving average of $88.52 and a 200-day simple moving average of $92.49.

TriNet Group (NYSE:TNET) last released its earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share for the quarter, beating 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 firm had revenue of $252.00 million during the quarter, compared to analyst estimates of $225.72 million. As a group, equities research analysts expect that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Thursday, January 2nd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $1.00 annualized dividend and a yield of 1.39%. TriNet Group’s dividend payout ratio (DPR) is 29.24%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of TriNet Group in a report on Friday, February 14th. 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.

Insiders Place Their Bets

In other news, CTO Jeffery Jon Hayward sold 7,784 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $89.57, for a total transaction of $697,212.88. Following the completion of the transaction, the chief technology officer now owns 21,769 shares of the company’s stock, valued at approximately $1,949,849.33. The trade was a 26.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 37.10% of the stock is currently owned by corporate insiders.

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.