Tidal Investments LLC Purchases 263 Shares of TriNet Group, Inc. (NYSE:TNET)

Tidal Investments LLC increased its position in TriNet Group, Inc. (NYSE:TNET) by 5.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,121 shares of the business services provider’s stock after purchasing an additional 263 shares during the quarter. Tidal Investments LLC’s holdings in TriNet Group were worth $495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TNET. Summit Global Investments purchased a new position in TriNet Group during the third quarter valued at $605,000. US Bancorp DE lifted its position in 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 valued at $698,000 after acquiring an additional 7,123 shares during the period. Massachusetts Financial Services Co. MA boosted 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 acquiring an additional 391,720 shares in the last quarter. Simcoe Capital Management LLC purchased a new stake in TriNet Group in the third quarter worth about $16,966,000. Finally, Chase Investment Counsel Corp purchased a new stake in TriNet Group in the second quarter worth about $875,000. 96.81% of the stock is currently owned by institutional investors.

Insider Activity

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were 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 directly owns 37,591 shares in the company, valued at approximately $3,241,471.93. The trade was a 0.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,813 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $92.74, for a total value of $168,137.62. Following the completion of the transaction, the chief technology officer now owns 36,951 shares in the company, 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. Insiders have sold a total of 4,533 shares of company stock valued at $418,629 in the last 90 days. 37.10% of the stock is currently owned by insiders.

TriNet Group Trading Up 1.7 %

Shares of NYSE:TNET opened at $90.06 on Monday. 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, Inc. has a 1 year low of $74.32 and a 1 year high of $134.67. The company has a market cap of $4.46 billion, a P/E ratio of 17.35 and a beta of 1.21. The stock’s fifty day moving average price is $91.85 and its 200-day moving average price is $97.13.

TriNet Group Announces Dividend

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

Analyst Upgrades and Downgrades

TNET has been the topic of a number of analyst reports. TD Cowen boosted their price target on 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 downgraded TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 target price on the stock. in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $103.00 price target on shares of TriNet Group in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $117.00.

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.