TriNet Group, Inc. (NYSE:TNET) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its holdings in TriNet Group, Inc. (NYSE:TNET) by 1.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 703,784 shares of the business services provider’s stock after selling 11,863 shares during the period. Geode Capital Management LLC owned 1.42% of TriNet Group worth $68,259,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TNET. Rothschild Investment LLC purchased a new stake in TriNet Group during the 2nd quarter valued at about $45,000. Avion Wealth increased its holdings in shares of TriNet Group by 19.2% in the second quarter. Avion Wealth now owns 800 shares of the business services provider’s stock valued at $80,000 after purchasing an additional 129 shares during the last quarter. KBC Group NV lifted its position in TriNet Group by 26.5% during the third quarter. KBC Group NV now owns 950 shares of the business services provider’s stock worth $92,000 after buying an additional 199 shares in the last quarter. Headlands Technologies LLC acquired a new position in TriNet Group during the second quarter worth $93,000. Finally, Aristides Capital LLC purchased a new stake in TriNet Group in the 2nd quarter valued at $258,000. 96.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on TNET. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $103.00 price target on shares of TriNet Group in a report on Tuesday, October 22nd. 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. Finally, TD Cowen raised their price target on shares of TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, TriNet Group currently has an average rating of “Hold” and a consensus price target of $117.00.

TriNet Group Trading Up 1.7 %

NYSE TNET opened at $90.06 on Friday. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $4.46 billion, a P/E ratio of 17.35 and a beta of 1.21. The firm’s 50-day moving average is $91.85 and its two-hundred day moving average is $97.18. TriNet Group, Inc. has a 12 month low of $74.32 and a 12 month high of $134.67.

TriNet Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Thursday, January 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, January 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.11%. TriNet Group’s payout ratio is currently 19.27%.

Insider Activity at TriNet Group

In other TriNet Group news, CTO Jeffery Jon Hayward sold 2,345 shares of TriNet Group stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $93.03, for a total value of $218,155.35. Following the completion of the transaction, the chief technology officer now directly owns 34,606 shares of the company’s stock, valued at $3,219,396.18. The trade was a 6.35 % decrease in their position. The transaction 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 business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total transaction of $32,336.25. Following the sale, the director now owns 37,591 shares in the company, valued at $3,241,471.93. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,533 shares of company stock worth $418,629. Insiders own 37.10% of the company’s stock.

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.