Seven Eight Capital LP Increases Stock Holdings in TriNet Group, Inc. (NYSE:TNET)

Seven Eight Capital LP boosted its position in shares of TriNet Group, Inc. (NYSE:TNET) by 82.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,587 shares of the business services provider’s stock after purchasing an additional 6,613 shares during the period. Seven Eight Capital LP’s holdings in TriNet Group were worth $1,455,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TNET. Principal Securities Inc. purchased a new stake in shares of TriNet Group during the 4th quarter valued at approximately $26,000. Dimensional Fund Advisors LP increased its stake in TriNet Group by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 812,990 shares of the business services provider’s stock worth $96,690,000 after acquiring an additional 37,851 shares during the last quarter. Principal Financial Group Inc. raised its position in TriNet Group by 28.9% in the fourth quarter. Principal Financial Group Inc. now owns 21,316 shares of the business services provider’s stock valued at $2,535,000 after purchasing an additional 4,778 shares during the period. Norges Bank acquired a new position in shares of TriNet Group in the 4th quarter valued at $19,650,000. Finally, Wells Fargo & Company MN grew its holdings in shares of TriNet Group by 8.7% during the 4th quarter. Wells Fargo & Company MN now owns 76,676 shares of the business services provider’s stock worth $9,119,000 after purchasing an additional 6,133 shares during the period. 96.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TriNet Group

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 value of $482,161.68. Following the completion of the transaction, the chief financial officer now directly owns 82,409 shares in the company, valued at $8,484,830.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total value of $39,937.50. Following the sale, the director now directly owns 37,966 shares in the company, valued at approximately $4,043,379. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. The disclosure for this sale can be found here. Corporate insiders own 37.10% of the company’s stock.

TriNet Group Stock Performance

NYSE TNET opened at $98.41 on Friday. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $4.89 billion, a P/E ratio of 16.13 and a beta of 1.17. The stock has a 50-day moving average of $100.23 and a two-hundred day moving average of $108.97. TriNet Group, Inc. has a 1-year low of $91.59 and a 1-year high of $134.67.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Friday, July 26th. The business services provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.29. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. The firm had revenue of $310.00 million during the quarter, compared to analysts’ expectations of $301.76 million. As a group, analysts anticipate that TriNet Group, Inc. will post 5.13 EPS for the current year.

TriNet Group Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Tuesday, October 1st. TriNet Group’s dividend payout ratio is currently 16.39%.

Wall Street Analyst Weigh In

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

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.