Acadian Asset Management LLC Decreases Position in TriNet Group, Inc. (NYSE:TNET)

Acadian Asset Management LLC lowered its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 82.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,453 shares of the business services provider’s stock after selling 61,811 shares during the period. Acadian Asset Management LLC’s holdings in TriNet Group were worth $1,344,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TNET. Jane Street Group LLC boosted its holdings in TriNet Group by 67.7% in the 1st quarter. Jane Street Group LLC now owns 1,149,929 shares of the business services provider’s stock worth $152,354,000 after buying an additional 464,289 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in TriNet Group by 960.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,003 shares of the business services provider’s stock valued at $31,269,000 after purchasing an additional 213,752 shares during the period. Norges Bank bought a new position in TriNet Group in the 4th quarter valued at $19,650,000. Earnest Partners LLC boosted its holdings in TriNet Group by 19.8% in the 1st quarter. Earnest Partners LLC now owns 898,335 shares of the business services provider’s stock valued at $119,020,000 after purchasing an additional 148,779 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in TriNet Group by 1.9% in 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 purchasing an additional 52,240 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 375 shares of the business’s 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 completion of the transaction, the director now directly owns 37,966 shares of the company’s stock, valued at $4,043,379. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total transaction of $482,161.68. Following the completion of the sale, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 375 shares of the company’s 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 sale, the director now directly owns 37,966 shares of the company’s stock, valued at $4,043,379. The disclosure for this sale can be found here. 37.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. TD Cowen cut their price target on shares of TriNet Group from $132.00 to $118.00 and set a “buy” rating for the company in a report on Monday, June 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of TriNet Group in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of TriNet Group from $107.00 to $103.00 and set an “underweight” rating for the company in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $118.40.

TriNet Group Price Performance

TNET stock opened at $97.85 on Monday. The firm’s 50-day moving average price is $100.29 and its two-hundred day moving average price is $109.55. TriNet Group, Inc. has a 12-month low of $91.59 and a 12-month high of $134.67. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 16.04 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 9.84.

TriNet Group (NYSE:TNET) last announced its earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.29. The firm had revenue of $310.00 million for the quarter, compared to analyst estimates of $301.76 million. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. As a group, equities analysts predict that TriNet Group, Inc. will post 5.13 earnings per share for the current year.

TriNet Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 1st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, July 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. TriNet Group’s payout ratio is 16.39%.

About TriNet Group

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.