8,400 Shares in TriNet Group, Inc. (NYSE:TNET) Purchased by Chase Investment Counsel Corp

Chase Investment Counsel Corp bought a new position in shares of TriNet Group, Inc. (NYSE:TNET) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,400 shares of the business services provider’s stock, valued at approximately $875,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Oliver Luxxe Assets LLC increased its position in TriNet Group by 1.4% during the first quarter. Oliver Luxxe Assets LLC now owns 5,860 shares of the business services provider’s stock worth $776,000 after buying an additional 83 shares during the last quarter. Jennison Associates LLC increased its position in TriNet Group by 1.8% during the first quarter. Jennison Associates LLC now owns 5,663 shares of the business services provider’s stock worth $750,000 after buying an additional 99 shares during the last quarter. Blue Trust Inc. increased its position in TriNet Group by 24.9% during the second quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock worth $52,000 after buying an additional 104 shares during the last quarter. Avion Wealth grew its position 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. Finally, SummerHaven Investment Management LLC grew its position in shares of TriNet Group by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 8,222 shares of the business services provider’s stock valued at $822,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 96.81% of the company’s stock.

Insiders Place Their Bets

In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 82,409 shares in the company, valued at $8,484,830.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total value of $39,937.50. Following the completion of the transaction, the director now directly owns 37,966 shares in the company, valued at approximately $4,043,379. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction on Thursday, August 29th. The shares were 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 owns 82,409 shares of the company’s stock, valued at $8,484,830.64. The disclosure for this sale can be found here. Corporate insiders own 37.10% of the company’s stock.

Analyst Ratings Changes

TNET has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 target price on shares of TriNet Group in a research report on Wednesday, September 11th. JPMorgan Chase & Co. decreased their target price on TriNet Group from $107.00 to $103.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 20th. Finally, TD Cowen decreased their target price on 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $118.40.

TriNet Group Trading Up 0.6 %

Shares of NYSE:TNET opened at $96.21 on Monday. The company has a market capitalization of $4.78 billion, a P/E ratio of 15.77 and a beta of 1.17. TriNet Group, Inc. has a 1 year low of $91.59 and a 1 year high of $134.67. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.04 and a quick ratio of 1.04. The business’s 50 day simple moving average is $98.88 and its 200 day simple moving average is $107.64.

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

TriNet Group Dividend Announcement

The firm also recently announced 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 is Tuesday, October 1st. TriNet Group’s payout ratio is presently 16.39%.

About TriNet Group

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.