New York State Teachers Retirement System Invests $341,000 in TriNet Group, Inc. (NYSE:TNET)

New York State Teachers Retirement System acquired a new position in shares of TriNet Group, Inc. (NYSE:TNET) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,866 shares of the business services provider’s stock, valued at approximately $341,000.

Several other hedge funds also recently modified their holdings of the company. Raymond James & Associates increased its holdings in shares of TriNet Group by 13.5% in the first quarter. Raymond James & Associates now owns 5,307 shares of the business services provider’s stock valued at $522,000 after purchasing an additional 631 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of TriNet Group by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 192,517 shares of the business services provider’s stock valued at $18,937,000 after purchasing an additional 6,480 shares in the last quarter. Citigroup Inc. increased its holdings in shares of TriNet Group by 46.5% in the first quarter. Citigroup Inc. now owns 39,685 shares of the business services provider’s stock valued at $3,904,000 after purchasing an additional 12,604 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of TriNet Group by 53.6% in the first quarter. MetLife Investment Management LLC now owns 21,581 shares of the business services provider’s stock valued at $2,123,000 after purchasing an additional 7,535 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of TriNet Group by 8.0% in the first quarter. Rhumbline Advisers now owns 44,248 shares of the business services provider’s stock valued at $4,352,000 after purchasing an additional 3,280 shares in the last quarter. Institutional investors and hedge funds own 96.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TNET. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target on shares of TriNet Group in a report on Friday, March 1st. StockNews.com raised shares of TriNet Group from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Stifel Nicolaus lifted their target price on shares of TriNet Group from $117.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, TD Cowen lifted their target price on shares of TriNet Group from $129.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TriNet Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.17.

Insider Transactions at TriNet Group

In other news, CEO Burton M. Goldfield sold 2,783 shares of TriNet Group stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $116.67, for a total transaction of $324,692.61. Following the transaction, the chief executive officer now directly owns 125,046 shares of the company’s stock, valued at $14,589,116.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Burton M. Goldfield sold 2,783 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $116.67, for a total value of $324,692.61. Following the sale, the chief executive officer now directly owns 125,046 shares of the company’s stock, valued at approximately $14,589,116.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samantha Wellington sold 14,271 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the completion of the sale, the executive vice president now directly owns 48,562 shares in the company, valued at $6,064,422.56. The disclosure for this sale can be found here. Insiders have sold a total of 33,835 shares of company stock valued at $4,161,834 over the last three months. 37.40% of the stock is currently owned by corporate insiders.

TriNet Group Price Performance

TNET opened at $128.26 on Friday. The company has a fifty day moving average price of $127.27 and a two-hundred day moving average price of $119.15. The firm has a market capitalization of $6.49 billion, a PE ratio of 19.76 and a beta of 1.09. TriNet Group, Inc. has a 52 week low of $79.00 and a 52 week high of $134.67. The company has a debt-to-equity ratio of 12.62, a quick ratio of 1.05 and a current ratio of 1.05.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.46. The company had revenue of $326.00 million for the quarter, compared to analysts’ expectations of $300.36 million. TriNet Group had a net margin of 7.62% and a return on equity of 87.97%. As a group, analysts anticipate that TriNet Group, Inc. will post 5.79 earnings per share for the current year.

TriNet Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.78%. TriNet Group’s dividend payout ratio is 15.41%.

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.