Intech Investment Management LLC Buys New Shares in TriNet Group, Inc. (NYSE:TNET)

Intech Investment Management LLC purchased a new position in TriNet Group, Inc. (NYSE:TNET) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,424 shares of the business services provider’s stock, valued at approximately $817,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TNET. Massachusetts Financial Services Co. MA boosted its position in shares of TriNet Group by 9.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,217,214 shares of the business services provider’s stock worth $121,721,000 after buying an additional 103,809 shares during the period. Earnest Partners LLC boosted its holdings in TriNet Group by 1.9% in the 2nd quarter. Earnest Partners LLC now owns 915,043 shares of the business services provider’s stock worth $91,504,000 after acquiring an additional 16,708 shares during the period. Dimensional Fund Advisors LP boosted its holdings in TriNet Group by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 823,019 shares of the business services provider’s stock worth $82,304,000 after acquiring an additional 9,386 shares during the period. Emerald Advisers LLC grew its position in TriNet Group by 1.1% in the third quarter. Emerald Advisers LLC now owns 252,819 shares of the business services provider’s stock valued at $24,516,000 after acquiring an additional 2,651 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of TriNet Group by 960.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 236,003 shares of the business services provider’s stock valued at $31,269,000 after purchasing an additional 213,752 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Insider Activity

In related news, CTO Jeffery Jon Hayward sold 1,813 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $92.74, for a total transaction of $168,137.62. Following the transaction, the chief technology officer now directly owns 36,951 shares of the company’s stock, valued at approximately $3,426,835.74. The trade was a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction 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 transaction, the director now 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. Insiders own 37.10% of the company’s stock.

TriNet Group Price Performance

Shares of NYSE:TNET opened at $92.90 on Friday. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 17.90 and a beta of 1.20. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07. TriNet Group, Inc. has a 12 month low of $74.32 and a 12 month high of $134.67. The stock’s 50 day moving average price is $93.04 and its 200 day moving average price is $98.55.

TriNet Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 1.08%. TriNet Group’s dividend payout ratio (DPR) is 19.27%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TNET shares. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $103.00 price target on shares of TriNet Group in a report on Tuesday, October 22nd. Needham & Company LLC downgraded shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price target for the company. in a research report on Monday, October 28th. Finally, TD Cowen lifted their price target on shares of TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $117.00.

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.