Quest Partners LLC Increases Position in TriNet Group, Inc. (NYSE:TNET)

Quest Partners LLC increased its holdings in TriNet Group, Inc. (NYSE:TNET) by 443.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,083 shares of the business services provider’s stock after purchasing an additional 6,595 shares during the quarter. Quest Partners LLC’s holdings in TriNet Group were worth $784,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its stake in TriNet Group by 10.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,902 shares of the business services provider’s stock worth $1,577,000 after buying an additional 1,150 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of TriNet Group by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 2,838,347 shares of the business services provider’s stock valued at $376,053,000 after acquiring an additional 52,240 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of TriNet Group by 2.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 28,226 shares of the business services provider’s stock valued at $3,746,000 after purchasing an additional 778 shares during the period. LRI Investments LLC purchased a new stake in shares of TriNet Group in the first quarter valued at about $81,000. Finally, Hyperion Capital Advisors LP acquired a new stake in TriNet Group during the first quarter worth about $268,000. 96.81% of the stock is owned by institutional investors and hedge funds.

TriNet Group Stock Down 2.0 %

Shares of NYSE TNET opened at $92.31 on Friday. TriNet Group, Inc. has a 52-week low of $74.32 and a 52-week high of $134.67. The business’s 50 day moving average is $93.58 and its two-hundred day moving average is $98.94. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 17.82 and a beta of 1.20. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 7.70.

TriNet Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Tuesday, October 1st. TriNet Group’s payout ratio is 19.27%.

Insider Activity at TriNet Group

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 82,409 shares in the company, valued at approximately $8,484,830.64. This trade represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total value of $32,336.25. Following the sale, the director now owns 37,591 shares in the company, valued at approximately $3,241,471.93. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TNET. Needham & Company LLC cut shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price target for the company. in a research note on Monday, October 28th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $103.00 price objective on shares of TriNet Group in a research report on Tuesday, October 22nd. Finally, TD Cowen lifted their target price on TriNet Group from $92.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TriNet Group currently has an average rating of “Hold” and an average target price of $117.00.

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.