Janus Henderson Group PLC Sells 221,742 Shares of TriNet Group, Inc. (NYSE:TNET)

Janus Henderson Group PLC cut its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 60.3% in the 4th quarter, Holdings Channel reports. The firm owned 145,733 shares of the business services provider’s stock after selling 221,742 shares during the period. Janus Henderson Group PLC’s holdings in TriNet Group were worth $13,224,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Avion Wealth raised its position in TriNet Group by 14.9% during the 4th quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock worth $98,000 after purchasing an additional 140 shares during the last quarter. Summit Investment Advisors Inc. raised its position in TriNet Group by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,344 shares of the business services provider’s stock worth $304,000 after purchasing an additional 149 shares during the last quarter. Franklin Resources Inc. raised its position in TriNet Group by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 5,086 shares of the business services provider’s stock worth $499,000 after purchasing an additional 169 shares during the last quarter. Linden Thomas Advisory Services LLC raised its position in TriNet Group by 2.6% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,731 shares of the business services provider’s stock worth $702,000 after purchasing an additional 196 shares during the last quarter. Finally, IFP Advisors Inc raised its position in TriNet Group by 45.5% during the 4th quarter. IFP Advisors Inc now owns 767 shares of the business services provider’s stock worth $71,000 after purchasing an additional 240 shares during the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Jeffery Jon Hayward sold 1,364 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total value of $94,607.04. Following the completion of the sale, the chief technology officer now directly 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 filing with the SEC, which is available at this link. Also, Director Paul Edward Chamberlain sold 600 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $41,616.00. Following the completion of the transaction, the director now directly owns 36,991 shares in the company, valued at approximately $2,565,695.76. The trade was a 1.60% decrease in their position. The disclosure for this sale can be found here. 38.10% of the stock is currently owned by company insiders.

TriNet Group Stock Performance

Shares of TriNet Group stock opened at $86.06 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16. The business has a 50-day moving average price of $78.50 and a two-hundred day moving average price of $84.78. TriNet Group, Inc. has a 1-year low of $65.43 and a 1-year high of $116.26. The company has a market cap of $4.17 billion, a P/E ratio of 25.16 and a beta of 0.91.

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

TriNet Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.275 per share. This is an increase from TriNet Group’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Tuesday, April 1st. TriNet Group’s dividend payout ratio (DPR) is presently 32.84%.

Wall Street Analyst Weigh In

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

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.