Fmr LLC Buys 2,506 Shares of TriNet Group, Inc. (NYSE:TNET)

Fmr LLC raised its position in shares of TriNet Group, Inc. (NYSE:TNET) by 38.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,017 shares of the business services provider’s stock after acquiring an additional 2,506 shares during the period. Fmr LLC’s holdings in TriNet Group were worth $874,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TNET. Blue Trust Inc. lifted its stake in shares of 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 purchasing an additional 104 shares during the period. Avion Wealth grew its stake in TriNet Group by 19.2% in the second quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after purchasing an additional 129 shares during the period. SummerHaven Investment Management LLC raised its holdings in TriNet Group by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 8,222 shares of the business services provider’s stock worth $822,000 after purchasing an additional 142 shares in the last quarter. Arizona State Retirement System lifted its position in TriNet Group by 2.0% during the second quarter. Arizona State Retirement System now owns 9,203 shares of the business services provider’s stock valued at $920,000 after buying an additional 180 shares during the period. Finally, KBC Group NV boosted its holdings in shares of TriNet Group by 26.5% during the 3rd quarter. KBC Group NV now owns 950 shares of the business services provider’s stock valued at $92,000 after buying an additional 199 shares in the last quarter. 96.81% of the stock is owned by institutional investors.

Insider Activity

In other news, CTO Jeffery Jon Hayward sold 2,345 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $93.03, for a total transaction of $218,155.35. Following the sale, the chief technology officer now owns 34,606 shares of the company’s stock, valued at $3,219,396.18. This trade represents a 6.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Edward Chamberlain sold 375 shares of TriNet Group 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 sale, the director now owns 37,591 shares of the company’s stock, valued at $3,241,471.93. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,533 shares of company stock worth $418,629 over the last 90 days. 37.10% of the stock is currently owned by insiders.

TriNet Group Stock Performance

Shares of TriNet Group stock opened at $91.55 on Tuesday. TriNet Group, Inc. has a 1 year low of $74.32 and a 1 year high of $134.67. The firm’s 50-day moving average is $92.54 and its 200 day moving average is $97.64. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 18.31 and a beta of 1.21. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07.

TriNet Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd will be paid a $0.25 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. TriNet Group’s dividend payout ratio is presently 19.27%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Needham & Company LLC lowered shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price target for the company. in a research note on Monday, October 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $103.00 target price on shares of TriNet Group in a research note on Tuesday, October 22nd. Finally, TD Cowen lifted their target price on shares of TriNet Group from $92.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $117.00.

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.