American Century Companies Inc. Lowers Position in TriNet Group, Inc. (NYSE:TNET)

American Century Companies Inc. reduced its position in shares of TriNet Group, Inc. (NYSE:TNET) by 56.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 25,836 shares of the business services provider’s stock after selling 33,139 shares during the period. American Century Companies Inc.’s holdings in TriNet Group were worth $2,584,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of 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 buying an additional 4,778 shares in the last quarter. Norges Bank purchased a new position in TriNet Group in the fourth quarter worth $19,650,000. Wells Fargo & Company MN lifted its holdings in TriNet Group by 8.7% in the fourth quarter. Wells Fargo & Company MN now owns 76,676 shares of the business services provider’s stock valued at $9,119,000 after acquiring an additional 6,133 shares during the period. 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 purchasing an additional 13,769 shares in the last quarter. Finally, Congress Asset Management Co. MA grew its stake 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 purchasing an additional 186 shares during the period. 96.81% of the stock is owned by hedge funds and other institutional investors.

TriNet Group Price Performance

Shares of NYSE TNET opened at $96.21 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 9.84. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 15.73 and a beta of 1.17. The company’s 50-day moving average price is $99.11 and its 200 day moving average price is $107.94. TriNet Group, Inc. has a 52 week low of $91.59 and a 52 week high of $134.67.

TriNet Group (NYSE:TNET) last released 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. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. The business had revenue of $310.00 million for the quarter, compared to analyst estimates of $301.76 million. As a group, research analysts forecast that TriNet Group, Inc. will post 5.13 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently commented on TNET shares. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of TriNet Group in a research note on Wednesday, September 11th. JPMorgan Chase & Co. reduced their price target on shares of 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 decreased their price target on TriNet Group from $132.00 to $118.00 and set a “buy” rating on the stock in a research note 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $118.40.

Insider Activity

In related news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total transaction of $39,937.50. Following the completion of the sale, the director now owns 37,966 shares in the company, valued at approximately $4,043,379. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 82,409 shares of the company’s stock, valued at approximately $8,484,830.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction 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 completion of the sale, the director now directly owns 37,966 shares of the company’s stock, valued at approximately $4,043,379. The disclosure for this sale can be found here. Company 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.