Bayforest Capital Ltd Increases Position in TriNet Group, Inc. $TNET

Bayforest Capital Ltd raised its stake in TriNet Group, Inc. (NYSE:TNET) by 30.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,991 shares of the business services provider’s stock after buying an additional 3,990 shares during the period. TriNet Group makes up about 0.5% of Bayforest Capital Ltd’s investment portfolio, making the stock its 12th largest holding. Bayforest Capital Ltd’s holdings in TriNet Group were worth $1,243,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in shares of TriNet Group by 183.3% during the first quarter. American Century Companies Inc. now owns 858,205 shares of the business services provider’s stock valued at $68,004,000 after purchasing an additional 555,258 shares during the last quarter. Wellington Management Group LLP raised its position in shares of TriNet Group by 24.3% in the 1st quarter. Wellington Management Group LLP now owns 2,021,749 shares of the business services provider’s stock valued at $160,203,000 after buying an additional 394,847 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in TriNet Group by 90.1% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 648,630 shares of the business services provider’s stock valued at $47,441,000 after acquiring an additional 307,440 shares during the period. Nuveen LLC bought a new stake in shares of TriNet Group in the 1st quarter valued at $18,315,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of TriNet Group by 11.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,123,201 shares of the business services provider’s stock valued at $168,242,000 after buying an additional 225,196 shares in the last quarter. 96.81% of the stock is currently owned by institutional investors.

TriNet Group Trading Up 1.6%

TNET opened at $62.53 on Tuesday. The company has a market cap of $3.04 billion, a P/E ratio of 21.49 and a beta of 0.79. TriNet Group, Inc. has a one year low of $61.26 and a one year high of $99.78. The business’s 50-day simple moving average is $67.24 and its 200-day simple moving average is $73.10. The company has a debt-to-equity ratio of 8.36, a quick ratio of 1.10 and a current ratio of 1.10.

TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Friday, July 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.12. TriNet Group had a net margin of 2.85% and a return on equity of 208.35%. The company had revenue of $282.90 million during the quarter, compared to the consensus estimate of $278.93 million. During the same quarter last year, the company earned $1.53 earnings per share. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. As a group, equities research analysts expect that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 1st. TriNet Group’s dividend payout ratio is presently 37.80%.

Insider Transactions at TriNet Group

In related news, Director Ralph A. Clark sold 3,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $66.42, for a total transaction of $199,260.00. Following the completion of the transaction, the director directly owned 9,390 shares in the company, valued at approximately $623,683.80. This trade represents a 24.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Sidney A. Majalya sold 775 shares of TriNet Group stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $65.93, for a total value of $51,095.75. Following the completion of the transaction, the senior vice president directly owned 20,933 shares of the company’s stock, valued at $1,380,112.69. This represents a 3.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,170 shares of company stock valued at $611,708. Corporate insiders own 37.10% of the company’s stock.

Analysts Set New Price Targets

TNET has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of TriNet Group in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on shares of TriNet Group from $76.00 to $75.00 and set an “underweight” rating on the stock in a research note on Monday, July 28th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $96.33.

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.