TriNet Group, Inc. (NYSE:TNET) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 1.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 703,784 shares of the business services provider’s stock after selling 11,863 shares during the quarter. Geode Capital Management LLC’s holdings in TriNet Group were worth $68,259,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Summit Global Investments acquired a new stake in TriNet Group in the third quarter valued at $605,000. US Bancorp DE raised its position in shares of TriNet Group by 9,893.1% during the 3rd quarter. US Bancorp DE now owns 7,195 shares of the business services provider’s stock worth $698,000 after acquiring an additional 7,123 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in TriNet Group by 32.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider’s stock worth $156,018,000 after purchasing an additional 391,720 shares during the last quarter. Simcoe Capital Management LLC purchased a new stake in TriNet Group during the third quarter worth approximately $16,966,000. Finally, Chase Investment Counsel Corp purchased a new position in TriNet Group in the second quarter valued at approximately $875,000. 96.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $86.23, for a total value of $32,336.25. Following the completion of the transaction, the director now owns 37,591 shares in the company, valued at $3,241,471.93. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,813 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $92.74, for a total transaction of $168,137.62. Following the completion of the transaction, the chief technology officer now directly owns 36,951 shares of the company’s stock, valued at approximately $3,426,835.74. This trade represents a 4.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,533 shares of company stock worth $418,629. 37.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TNET has been the subject of several recent analyst reports. TD Cowen boosted their price objective on shares of TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Needham & Company LLC cut 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 report on Monday, October 28th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $103.00 price objective on shares of TriNet Group in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $117.00.

TriNet Group Trading Up 1.7 %

Shares of TNET stock opened at $90.06 on Friday. The company has a market capitalization of $4.46 billion, a P/E ratio of 17.35 and a beta of 1.21. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 7.70. The business’s 50 day moving average is $91.85 and its two-hundred day moving average is $97.18. TriNet Group, Inc. has a twelve month low of $74.32 and a twelve month high of $134.67.

TriNet Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.00 annualized dividend and a yield of 1.11%. TriNet Group’s dividend payout ratio is currently 19.27%.

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.