Ensign Peak Advisors Inc Cuts Holdings in TriNet Group, Inc. (NYSE:TNET)

Ensign Peak Advisors Inc decreased its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 49.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,338 shares of the business services provider’s stock after selling 10,055 shares during the quarter. Ensign Peak Advisors Inc’s holdings in TriNet Group were worth $1,034,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TNET. Principal Financial Group Inc. increased its holdings in TriNet Group by 28.9% during the 4th quarter. Principal Financial Group Inc. now owns 21,316 shares of the business services provider’s stock worth $2,535,000 after purchasing an additional 4,778 shares during the period. Norges Bank acquired a new position in shares of TriNet Group during the 4th quarter worth about $19,650,000. Wells Fargo & Company MN boosted its position in shares of TriNet Group by 8.7% during the 4th quarter. Wells Fargo & Company MN now owns 76,676 shares of the business services provider’s stock worth $9,119,000 after acquiring an additional 6,133 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of TriNet Group by 1,156.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,960 shares of the business services provider’s stock worth $1,779,000 after acquiring an additional 13,769 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its position in shares of TriNet Group by 0.3% during the 4th quarter. Congress Asset Management Co. MA now owns 63,059 shares of the business services provider’s stock worth $7,500,000 after acquiring an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Wall Street Analysts Forecast Growth

TNET has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of TriNet Group in a research report on Wednesday, September 11th. 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. Finally, TD Cowen lowered their price objective on TriNet Group from $132.00 to $118.00 and set a “buy” rating for the company in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $118.40.

Insider Buying and Selling at TriNet Group

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 stock was 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 approximately $8,484,830.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 stock was 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 approximately $8,484,830.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value 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 company insiders.

TriNet Group Stock Up 0.6 %

Shares of NYSE TNET opened at $96.21 on Friday. The stock has a market cap of $4.78 billion, a PE ratio of 15.77 and a beta of 1.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 9.84. TriNet Group, Inc. has a 52-week low of $91.59 and a 52-week high of $134.67. The business has a 50-day moving average price of $98.88 and a 200 day moving average price of $107.76.

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

TriNet Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders 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 1.04%. The ex-dividend date of this dividend is Tuesday, October 1st. TriNet Group’s dividend payout ratio is presently 16.39%.

TriNet Group 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.