Cibc World Markets Corp Takes Position in TriNet Group, Inc. (NYSE:TNET)

Cibc World Markets Corp acquired a new position in TriNet Group, Inc. (NYSE:TNET) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,990 shares of the business services provider’s stock, valued at approximately $271,000.

Other institutional investors have also added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its stake in shares of TriNet Group by 25.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 595 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 121 shares during the period. Avion Wealth boosted its holdings in shares of TriNet Group by 14.9% during the 4th quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock worth $98,000 after buying an additional 140 shares in the last quarter. Franklin Resources Inc. grew its position in shares of TriNet Group by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 5,086 shares of the business services provider’s stock worth $499,000 after buying an additional 169 shares during the period. Linden Thomas Advisory Services LLC increased its stake in shares of TriNet Group by 2.6% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,731 shares of the business services provider’s stock valued at $702,000 after acquiring an additional 196 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of TriNet Group by 45.5% during the 4th quarter. IFP Advisors Inc now owns 767 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 240 shares during the period. 96.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TNET has been the subject of several research analyst reports. TD Cowen downgraded shares of TriNet Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $104.00 to $74.00 in a research note on Tuesday, February 18th. Needham & Company LLC restated a “hold” rating on shares of TriNet Group in a research note on Thursday, March 13th.

Insider Activity

In other TriNet Group news, Director Paul Edward Chamberlain sold 600 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $41,616.00. Following the completion of the sale, the director now owns 36,991 shares in the company, valued at approximately $2,565,695.76. This trade represents a 1.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Jeffery Jon Hayward sold 7,784 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $89.57, for a total value of $697,212.88. Following the completion of the transaction, the chief technology officer now owns 21,769 shares in the company, valued at $1,949,849.33. The trade was a 26.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,748 shares of company stock worth $833,436 over the last 90 days. 37.10% of the stock is currently owned by corporate insiders.

TriNet Group Stock Performance

NYSE TNET opened at $78.51 on Wednesday. The company has a market cap of $3.89 billion, a P/E ratio of 22.96 and a beta of 1.26. The company has a fifty day simple moving average of $82.17 and a 200 day simple moving average of $89.11. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16. TriNet Group, Inc. has a 12-month low of $65.43 and a 12-month high of $134.67.

TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. The firm had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $225.72 million. Sell-side analysts predict that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be paid a $0.275 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from TriNet Group’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 1.40%. TriNet Group’s dividend payout ratio is 32.16%.

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.