Stifel Financial Corp Decreases Holdings in TriNet Group, Inc. (NYSE:TNET)

Stifel Financial Corp lowered its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,911 shares of the business services provider’s stock after selling 195 shares during the period. Stifel Financial Corp’s holdings in TriNet Group were worth $573,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TNET. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of TriNet Group by 16.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,570 shares of the business services provider’s stock worth $757,000 after buying an additional 1,078 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of TriNet Group by 11.9% during the 2nd quarter. Principal Financial Group Inc. now owns 21,859 shares of the business services provider’s stock worth $2,186,000 after purchasing an additional 2,320 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of TriNet Group during the 2nd quarter worth approximately $45,000. Rhumbline Advisers grew its position in shares of TriNet Group by 4.3% in the second quarter. Rhumbline Advisers now owns 49,253 shares of the business services provider’s stock valued at $4,925,000 after purchasing an additional 2,051 shares in the last quarter. Finally, Chase Investment Counsel Corp acquired a new stake in shares of TriNet Group in the second quarter valued at approximately $875,000. Institutional investors and hedge funds own 96.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TNET. TD Cowen boosted their price objective on TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Needham & Company LLC cut shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $103.00 price target on shares of TriNet Group in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $117.00.

TriNet Group Stock Performance

NYSE:TNET opened at $90.29 on Friday. TriNet Group, Inc. has a fifty-two week low of $74.32 and a fifty-two week high of $134.67. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50 day moving average price of $91.44 and a 200 day moving average price of $96.86. The stock has a market capitalization of $4.48 billion, a P/E ratio of 17.40 and a beta of 1.21.

TriNet Group Dividend Announcement

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

Insider Activity at TriNet Group

In related news, CTO Jeffery Jon Hayward sold 1,813 shares of TriNet Group stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $92.74, for a total value of $168,137.62. Following the completion of the transaction, the chief technology officer now owns 36,951 shares in the company, valued at $3,426,835.74. The trade was a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $86.23, for a total transaction of $32,336.25. Following the completion of the sale, the director now directly owns 37,591 shares in the company, valued at approximately $3,241,471.93. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,533 shares of company stock worth $418,629. Corporate insiders own 37.10% of the company’s stock.

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.