TriNet Group, Inc. (NYSE:TNET) Stake Raised by Dark Forest Capital Management LP

Dark Forest Capital Management LP lifted its position in TriNet Group, Inc. (NYSE:TNET) by 10.0% in the 2nd quarter, Holdings Channel reports. The fund owned 11,747 shares of the business services provider’s stock after buying an additional 1,064 shares during the period. Dark Forest Capital Management LP’s holdings in TriNet Group were worth $1,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new stake in TriNet Group during the 4th quarter worth about $26,000. Rothschild Investment LLC purchased a new position in TriNet Group during the second quarter valued at approximately $45,000. Blue Trust Inc. increased its stake in TriNet Group by 24.9% in the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock valued at $52,000 after buying an additional 104 shares during the period. Avion Wealth increased its stake in TriNet Group by 19.2% in the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider’s stock valued at $80,000 after buying an additional 129 shares during the period. Finally, LRI Investments LLC purchased a new stake in TriNet Group in the 1st quarter worth approximately $81,000. Institutional investors and hedge funds own 96.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TNET. Needham & Company LLC restated a “buy” rating and set a $140.00 price target on shares of TriNet Group in a report on Wednesday, September 11th. JPMorgan Chase & Co. reduced their price objective on TriNet Group from $107.00 to $103.00 and set an “underweight” rating for the company in a research report on Tuesday, August 20th. Finally, TD Cowen dropped their target price on TriNet Group from $132.00 to $118.00 and set a “buy” rating on the stock 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, the company currently has a consensus rating of “Hold” and a consensus price target of $118.40.

Insiders Place Their Bets

In related 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 transaction, the director now directly owns 37,966 shares in the company, valued at approximately $4,043,379. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 82,409 shares in the company, valued at $8,484,830.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 37,966 shares of the company’s stock, valued at $4,043,379. The disclosure for this sale can be found here. Company insiders own 37.10% of the company’s stock.

TriNet Group Stock Down 0.6 %

TNET stock opened at $95.31 on Thursday. The firm has a market cap of $4.82 billion, a PE ratio of 15.62 and a beta of 1.17. TriNet Group, Inc. has a 1 year low of $91.59 and a 1 year high of $134.67. The company has a fifty day simple moving average of $99.35 and a 200 day simple moving average of $108.03. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 9.84.

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

TriNet Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 1st will be issued a $0.25 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 1.05%. TriNet Group’s dividend payout ratio (DPR) is currently 16.39%.

About TriNet Group

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.