TriNet Group, Inc. (NYSE:TNET – Get Free Report) shares gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $91.63, but opened at $81.65. TriNet Group shares last traded at $77.33, with a volume of 67,382 shares.
The business services provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.14). The firm had revenue of $288.00 million during the quarter, compared to analysts’ expectations of $297.94 million. TriNet Group had a return on equity of 397.90% and a net margin of 6.29%.
TriNet Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date is Tuesday, October 1st. TriNet Group’s payout ratio is currently 16.89%.
Analysts Set New Price Targets
View Our Latest Report on TNET
Insider Activity at TriNet Group
In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total value of $482,161.68. Following the transaction, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at approximately $8,484,830.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the sale, the chief financial officer now directly owns 82,409 shares in the company, valued at $8,484,830.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total transaction of $39,937.50. Following the transaction, the director now owns 37,966 shares in the company, valued at approximately $4,043,379. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 37.10% of the stock is owned by insiders.
Institutional Investors Weigh In On TriNet Group
A number of large investors have recently made changes to their positions in the company. Rothschild Investment LLC purchased a new position in shares of TriNet Group in the second quarter worth approximately $45,000. Blue Trust Inc. boosted its stake in shares of TriNet Group by 24.9% during the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock worth $52,000 after acquiring an additional 104 shares during the last quarter. Avion Wealth grew its position in shares of TriNet Group by 19.2% during the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider’s stock valued at $80,000 after acquiring an additional 129 shares during the period. LRI Investments LLC purchased a new stake in shares of TriNet Group in the 1st quarter worth $81,000. Finally, Headlands Technologies LLC purchased a new stake in shares of TriNet Group in the 2nd quarter worth $93,000. 96.81% of the stock is currently owned by institutional investors.
TriNet Group Trading Down 12.4 %
The company has a market capitalization of $3.99 billion, a P/E ratio of 13.57 and a beta of 1.17. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average of $96.79 and a 200 day moving average of $102.72.
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.
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