D. E. Shaw & Co. Inc. Trims Stock Position in TriNet Group, Inc. (NYSE:TNET)

D. E. Shaw & Co. Inc. reduced its position in shares of TriNet Group, Inc. (NYSE:TNET) by 40.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,682 shares of the business services provider’s stock after selling 93,951 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.28% of TriNet Group worth $12,497,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of TriNet Group by 45.5% during the 4th quarter. IFP Advisors Inc now owns 767 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 240 shares during the last quarter. Avion Wealth lifted its position in TriNet Group by 14.9% during the fourth quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock valued at $98,000 after purchasing an additional 140 shares during the last quarter. KBC Group NV increased its holdings in shares of TriNet Group by 43.7% in the 4th quarter. KBC Group NV now owns 1,365 shares of the business services provider’s stock worth $124,000 after buying an additional 415 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of TriNet Group by 118.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,446 shares of the business services provider’s stock valued at $131,000 after buying an additional 785 shares in the last quarter. Finally, Xponance Inc. raised its position in shares of TriNet Group by 17.8% during the 4th quarter. Xponance Inc. now owns 2,456 shares of the business services provider’s stock valued at $223,000 after buying an additional 371 shares in the last quarter. Institutional investors own 96.81% of the company’s stock.

Analyst Ratings Changes

TNET has been the topic of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of TriNet Group in a research report on Thursday, March 13th. TD Cowen lowered TriNet Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $104.00 to $74.00 in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of TriNet Group from $75.00 to $76.00 and gave the stock an “underweight” rating in a research note on Monday, April 28th.

TriNet Group Trading Down 0.3%

NYSE TNET opened at $84.23 on Wednesday. The stock has a market cap of $4.08 billion, a P/E ratio of 24.63 and a beta of 0.91. TriNet Group, Inc. has a fifty-two week low of $65.43 and a fifty-two week high of $116.26. The stock has a 50 day simple moving average of $77.84 and a two-hundred day simple moving average of $84.77. The company has a debt-to-equity ratio of 13.16, a quick ratio of 1.07 and a current ratio of 1.07.

TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Friday, April 25th. The business services provider reported $1.99 EPS for the quarter, topping the consensus estimate of $1.67 by $0.32. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $319.36 million. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. During the same period last year, the business posted $2.18 earnings per share. On average, analysts forecast that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.275 per share. This is a boost from TriNet Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.31%. TriNet Group’s dividend payout ratio is presently 32.84%.

Insider Activity

In other news, CTO Jeffery Jon Hayward sold 1,364 shares of TriNet Group stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $94,607.04. Following the transaction, the chief technology officer now owns 19,867 shares in the company, valued at $1,377,975.12. This trade represents a 6.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paul Edward Chamberlain sold 600 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $41,616.00. Following the sale, the director now directly owns 36,991 shares of the company’s stock, valued at $2,565,695.76. This represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 38.10% of the company’s stock.

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.