Mackenzie Financial Corp Grows Holdings in TriNet Group, Inc. (NYSE:TNET)

Mackenzie Financial Corp raised its position in TriNet Group, Inc. (NYSE:TNET) by 648.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 14,914 shares of the business services provider’s stock after purchasing an additional 12,922 shares during the period. Mackenzie Financial Corp’s holdings in TriNet Group were worth $1,491,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TNET. The Manufacturers Life Insurance Company increased its position in shares of TriNet Group by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 20,097 shares of the business services provider’s stock valued at $2,010,000 after acquiring an additional 1,017 shares during the last quarter. Dark Forest Capital Management LP increased its position in shares of TriNet Group by 10.0% during the 2nd quarter. Dark Forest Capital Management LP now owns 11,747 shares of the business services provider’s stock valued at $1,175,000 after purchasing an additional 1,064 shares during the last quarter. Earnest Partners LLC raised its stake in shares of TriNet Group by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 915,043 shares of the business services provider’s stock worth $91,504,000 after purchasing an additional 16,708 shares during the period. Point72 Hong Kong Ltd boosted its holdings in shares of TriNet Group by 243.9% in the 2nd quarter. Point72 Hong Kong Ltd now owns 14,227 shares of the business services provider’s stock worth $1,423,000 after buying an additional 10,090 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in TriNet Group by 4.6% during the second quarter. Squarepoint Ops LLC now owns 31,361 shares of the business services provider’s stock valued at $3,136,000 after buying an additional 1,369 shares during the period. Institutional investors own 96.81% of the company’s stock.

TriNet Group Stock Up 0.9 %

TNET opened at $97.00 on Friday. TriNet Group, Inc. has a 12 month low of $91.59 and a 12 month high of $134.67. The company has a market cap of $4.82 billion, a PE ratio of 15.90 and a beta of 1.17. 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 company has a 50 day moving average of $97.94 and a 200 day moving average of $106.95.

TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Friday, July 26th. The business services provider reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.29. TriNet Group had a return on equity of 397.90% and a net margin of 6.29%. The firm had revenue of $310.00 million during the quarter, compared to analyst estimates of $301.76 million. On average, sell-side analysts expect that TriNet Group, Inc. will post 5.13 EPS for the current 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Tuesday, October 1st. TriNet Group’s dividend payout ratio is presently 16.39%.

Insider Transactions at TriNet Group

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total transaction of $482,161.68. Following the sale, the chief financial officer now owns 82,409 shares of the company’s stock, valued at approximately $8,484,830.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group 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 owns 82,409 shares of the company’s stock, valued at $8,484,830.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction dated 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 owns 37,966 shares in the company, valued at $4,043,379. The disclosure for this sale can be found here. Insiders own 37.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on TNET shares. TD Cowen lowered their price objective on shares of TriNet Group from $132.00 to $118.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. JPMorgan Chase & Co. dropped their price objective on TriNet Group from $107.00 to $103.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of TriNet Group in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $118.40.

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.