DekaBank Deutsche Girozentrale Buys 1,700 Shares of TriNet Group, Inc. (NYSE:TNET)

DekaBank Deutsche Girozentrale lifted its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 5.3% in the third quarter, HoldingsChannel reports. The fund owned 33,743 shares of the business services provider’s stock after acquiring an additional 1,700 shares during the period. DekaBank Deutsche Girozentrale’s holdings in TriNet Group were worth $3,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC grew its stake in shares of TriNet Group by 1.8% during the 1st quarter. Jennison Associates LLC now owns 5,663 shares of the business services provider’s stock valued at $750,000 after acquiring an additional 99 shares during the period. Blue Trust Inc. lifted its holdings in TriNet Group by 24.9% in the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock worth $52,000 after purchasing an additional 104 shares in the last quarter. Avion Wealth lifted its holdings in TriNet Group by 19.2% in the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after purchasing an additional 129 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in TriNet Group by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,222 shares of the business services provider’s stock worth $822,000 after purchasing an additional 142 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its holdings in TriNet Group by 2.2% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 7,163 shares of the business services provider’s stock worth $716,000 after purchasing an additional 156 shares in the last quarter. 96.81% of the stock is currently owned by institutional investors.

Insider Transactions at TriNet Group

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $102.96, for a total transaction of $482,161.68. Following the sale, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total value of $32,336.25. Following the sale, the director now owns 37,591 shares in the company, valued at approximately $3,241,471.93. The trade was a 0.00 % decrease in their position. The transaction 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 business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total value of $482,161.68. Following the transaction, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 37.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. TD Cowen lowered their price target on TriNet Group from $110.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $103.00 price objective on shares of TriNet Group in a report on Tuesday, October 22nd. Finally, Needham & Company LLC cut TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price objective on the stock. in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, TriNet Group currently has a consensus rating of “Hold” and a consensus price target of $113.20.

TriNet Group Price Performance

Shares of TNET stock opened at $84.03 on Friday. TriNet Group, Inc. has a 1-year low of $74.32 and a 1-year high of $134.67. The stock’s 50-day moving average is $95.46 and its 200 day moving average is $101.37. The company has a market cap of $4.17 billion, a P/E ratio of 16.19 and a beta of 1.17. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.04.

TriNet Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Tuesday, October 1st. TriNet Group’s dividend payout ratio (DPR) is presently 19.27%.

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.