Dark Forest Capital Management LP Cuts Holdings in TriNet Group, Inc. (NYSE:TNET)

Dark Forest Capital Management LP lessened its position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 89.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,508 shares of the business services provider's stock after selling 29,139 shares during the quarter. Dark Forest Capital Management LP's holdings in TriNet Group were worth $318,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its stake in TriNet Group by 45.5% in the 4th quarter. IFP Advisors Inc now owns 767 shares of the business services provider's stock valued at $71,000 after buying an additional 240 shares in the last quarter. Avion Wealth raised its holdings in shares of 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 acquiring an additional 140 shares during the last quarter. KBC Group NV lifted its position in shares of TriNet Group by 43.7% in the fourth quarter. KBC Group NV now owns 1,365 shares of the business services provider's stock valued at $124,000 after acquiring an additional 415 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of TriNet Group by 118.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,446 shares of the business services provider's stock worth $131,000 after acquiring an additional 785 shares during the last quarter. Finally, Xponance Inc. boosted its stake in shares of TriNet Group by 17.8% in the fourth quarter. Xponance Inc. now owns 2,456 shares of the business services provider's stock worth $223,000 after acquiring an additional 371 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company's stock.

Insider Activity at TriNet Group

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

Wall Street Analysts Forecast Growth

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

TriNet Group Stock Up 2.0 %

NYSE TNET traded up $1.60 during trading on Friday, reaching $80.37. 374,048 shares of the company's stock were exchanged, compared to its average volume of 382,728. TriNet Group, Inc. has a 1 year low of $65.43 and a 1 year high of $116.26. The stock has a market cap of $3.89 billion, a P/E ratio of 23.50 and a beta of 1.06. The company has a debt-to-equity ratio of 13.16, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50 day moving average price of $76.64 and a two-hundred day moving average price of $85.14.

TriNet Group (NYSE:TNET - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The business services provider reported $1.99 earnings per share (EPS) for the quarter, beating 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 in the prior year, the company posted $2.18 earnings per share. On average, equities research analysts anticipate that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Tuesday, April 1st were paid a dividend of $0.275 per share. This is a positive change from TriNet Group's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 1.37%. The ex-dividend date was Tuesday, April 1st. TriNet Group's dividend payout ratio (DPR) is currently 32.84%.

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.