JLB & Associates Inc. Sells 2,857 Shares of TriNet Group, Inc. $TNET

JLB & Associates Inc. cut its position in TriNet Group, Inc. (NYSE:TNET) by 8.2% in the second quarter, HoldingsChannel.com reports. The firm owned 32,053 shares of the business services provider’s stock after selling 2,857 shares during the period. JLB & Associates Inc.’s holdings in TriNet Group were worth $2,344,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in shares of TriNet Group by 58.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,291 shares of the business services provider’s stock valued at $182,000 after buying an additional 845 shares in the last quarter. AlphaQuest LLC lifted its position in TriNet Group by 633.5% during the first quarter. AlphaQuest LLC now owns 2,472 shares of the business services provider’s stock valued at $196,000 after acquiring an additional 2,135 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in TriNet Group during the first quarter valued at approximately $206,000. Xponance Inc. boosted its stake in TriNet Group by 6.4% in the first quarter. Xponance Inc. now owns 2,613 shares of the business services provider’s stock valued at $207,000 after acquiring an additional 157 shares in the last quarter. Finally, AE Wealth Management LLC purchased a new position in TriNet Group in the first quarter worth $208,000. 96.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. decreased their price objective on TriNet Group from $76.00 to $75.00 and set an “underweight” rating for the company in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $96.33.

Insider Buying and Selling at TriNet Group

In other news, CTO Jeffery Jon Hayward sold 1,437 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.80, for a total value of $98,865.60. Following the transaction, the chief technology officer directly owned 30,424 shares of the company’s stock, valued at approximately $2,093,171.20. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ralph A. Clark sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $66.42, for a total value of $199,260.00. Following the completion of the transaction, the director owned 9,390 shares of the company’s stock, valued at approximately $623,683.80. The trade was a 24.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,395 shares of company stock worth $560,612. 38.10% of the stock is owned by corporate insiders.

TriNet Group Stock Up 0.6%

NYSE:TNET opened at $67.99 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 8.36. TriNet Group, Inc. has a twelve month low of $62.55 and a twelve month high of $99.78. The company has a market cap of $3.30 billion, a PE ratio of 23.36 and a beta of 0.84. The company’s 50 day moving average is $67.72 and its two-hundred day moving average is $74.10.

TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Friday, July 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.12. TriNet Group had a net margin of 2.85% and a return on equity of 208.35%. The business had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $278.93 million. During the same quarter last year, the company posted $1.53 earnings per share. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. Analysts anticipate that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.10 dividend on an annualized basis and a yield of 1.6%. TriNet Group’s payout ratio is currently 37.80%.

About TriNet Group

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.