Point72 DIFC Ltd Raises Stake in TriNet Group, Inc. (NYSE:TNET)

Point72 DIFC Ltd increased its holdings in TriNet Group, Inc. (NYSE:TNET) by 95.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,716 shares of the business services provider’s stock after buying an additional 4,261 shares during the quarter. Point72 DIFC Ltd’s holdings in TriNet Group were worth $872,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TNET. Vanguard Group Inc. increased its stake in shares of TriNet Group by 1.9% in the first quarter. Vanguard Group Inc. now owns 2,838,347 shares of the business services provider’s stock worth $376,053,000 after acquiring an additional 52,240 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in 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 valued at $121,721,000 after purchasing an additional 103,809 shares during the last quarter. Jane Street Group LLC grew its position in TriNet Group by 67.7% during the 1st quarter. Jane Street Group LLC now owns 1,149,929 shares of the business services provider’s stock worth $152,354,000 after purchasing an additional 464,289 shares during the period. Earnest Partners LLC raised its stake in shares of TriNet Group by 19.8% during the 1st quarter. Earnest Partners LLC now owns 898,335 shares of the business services provider’s stock valued at $119,020,000 after buying an additional 148,779 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of 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 valued at $82,304,000 after buying an additional 9,386 shares during the period. 96.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total transaction of $482,161.68. Following the sale, the chief financial officer now owns 82,409 shares of the company’s stock, valued at approximately $8,484,830.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the sale, the chief financial officer now owns 82,409 shares in the company, valued at approximately $8,484,830.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total value of $39,937.50. Following the transaction, the director now owns 37,966 shares in the company, valued at $4,043,379. The disclosure for this sale can be found here. 37.10% of the stock is owned by company insiders.

TriNet Group Trading Down 0.6 %

Shares of NYSE:TNET opened at $95.31 on Thursday. The business’s 50 day moving average price is $99.35 and its 200-day moving average price is $108.03. TriNet Group, Inc. has a 1 year low of $91.59 and a 1 year high of $134.67. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 15.62 and a beta of 1.17. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.04 and a quick ratio of 1.04.

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

TriNet Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Tuesday, October 1st. TriNet Group’s dividend payout ratio is presently 16.39%.

Wall Street Analysts Forecast Growth

TNET has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on 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 reaffirmed a “buy” rating and set a $140.00 target price on shares of TriNet Group in a report on Wednesday, September 11th. Finally, TD Cowen lowered their price target on shares of TriNet Group from $132.00 to $118.00 and set a “buy” rating on the stock in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $118.40.

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.