TriNet Group, Inc. (NYSE:TNET) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its holdings in TriNet Group, Inc. (NYSE:TNET) by 2.8% during the 2nd quarter, Holdings Channel reports. The firm owned 3,958 shares of the business services provider’s stock after selling 116 shares during the period. Public Employees Retirement Association of Colorado’s holdings in TriNet Group were worth $396,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TNET. Rothschild Investment LLC purchased a new position in TriNet Group in the 2nd quarter valued at about $45,000. Blue Trust Inc. raised its position in shares of TriNet Group by 24.9% in the second quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock valued at $52,000 after buying an additional 104 shares during the last quarter. LRI Investments LLC purchased a new position in shares of TriNet Group during the first quarter valued at approximately $81,000. Avion Wealth boosted its position in TriNet Group by 19.2% during the second quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after acquiring an additional 129 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in TriNet Group in the 2nd quarter worth approximately $93,000. 96.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TriNet Group

In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 82,409 shares of the company’s stock, valued at $8,484,830.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction dated 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 approximately $4,043,379. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the 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 completion of the transaction, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. The disclosure for this sale can be found here. 37.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

TriNet Group Stock Performance

Shares of NYSE:TNET opened at $96.21 on Friday. The business has a 50-day moving average of $99.11 and a two-hundred day moving average of $107.94. The firm has a market capitalization of $4.78 billion, a PE ratio of 15.77 and a beta of 1.17. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.04 and a quick ratio of 1.04. TriNet Group, Inc. has a 12 month low of $91.59 and a 12 month high of $134.67.

TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Friday, July 26th. The business services provider reported $1.27 EPS for the quarter, beating the consensus estimate 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, research analysts forecast that TriNet Group, Inc. will post 5.13 earnings per share for the current year.

TriNet Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. TriNet Group’s dividend payout ratio (DPR) is 16.39%.

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.