State Street Corp Reduces Stock Holdings in TriNet Group, Inc. (NYSE:TNET)

State Street Corp lowered its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 773,541 shares of the business services provider’s stock after selling 4,677 shares during the quarter. State Street Corp’s holdings in TriNet Group were worth $75,010,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TNET. Summit Global Investments purchased a new stake in TriNet Group during the third quarter valued at approximately $605,000. US Bancorp DE grew its position in shares of TriNet Group by 9,893.1% during the 3rd quarter. US Bancorp DE now owns 7,195 shares of the business services provider’s stock valued at $698,000 after acquiring an additional 7,123 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of TriNet Group by 32.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider’s stock worth $156,018,000 after purchasing an additional 391,720 shares in the last quarter. Simcoe Capital Management LLC bought a new position in TriNet Group in the 3rd quarter worth $16,966,000. Finally, Chase Investment Counsel Corp purchased a new position in TriNet Group during the second quarter valued at $875,000. Institutional investors own 96.81% of the company’s stock.

Insider Transactions at TriNet Group

In other news, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total transaction of $32,336.25. Following the completion of the transaction, the director now directly owns 37,591 shares in the company, valued at approximately $3,241,471.93. This represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeffery Jon Hayward sold 2,345 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $93.03, for a total transaction of $218,155.35. Following the completion of the sale, the chief technology officer now owns 34,606 shares in the company, valued at $3,219,396.18. This represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,533 shares of company stock valued at $418,629. 37.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TNET has been the topic of several recent research reports. TD Cowen raised their price objective on TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Needham & Company LLC cut shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 target price on the stock. in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $103.00 price target on shares of TriNet Group in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, TriNet Group has a consensus rating of “Hold” and an average price target of $117.00.

TriNet Group Stock Down 0.7 %

Shares of TNET opened at $90.91 on Wednesday. The business’s 50 day moving average is $92.44 and its 200 day moving average is $97.55. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 7.70. TriNet Group, Inc. has a 12-month low of $74.32 and a 12-month high of $134.67. The company has a market capitalization of $4.51 billion, a PE ratio of 17.64 and a beta of 1.21.

TriNet Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, January 2nd. TriNet Group’s payout ratio is currently 19.27%.

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.