Point72 Asset Management L.P. Takes $16.99 Million Position in TriNet Group, Inc. (NYSE:TNET)

Point72 Asset Management L.P. acquired a new position in TriNet Group, Inc. (NYSE:TNET - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 187,202 shares of the business services provider's stock, valued at approximately $16,992,000. Point72 Asset Management L.P. owned 0.38% of TriNet Group at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TNET. Vanguard Group Inc. increased its holdings in TriNet Group by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 2,992,008 shares of the business services provider's stock valued at $271,585,000 after buying an additional 36,216 shares during the period. Bank of New York Mellon Corp boosted its position in shares of TriNet Group by 82.7% during the 4th quarter. Bank of New York Mellon Corp now owns 222,458 shares of the business services provider's stock valued at $20,193,000 after acquiring an additional 100,728 shares in the last quarter. Franklin Resources Inc. increased its stake in TriNet Group by 3.4% in the third quarter. Franklin Resources Inc. now owns 5,086 shares of the business services provider's stock valued at $499,000 after acquiring an additional 169 shares during the period. Barclays PLC raised its position in TriNet Group by 201.0% in the third quarter. Barclays PLC now owns 94,649 shares of the business services provider's stock worth $9,179,000 after purchasing an additional 63,201 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC raised its position in TriNet Group by 246.6% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 10,190 shares of the business services provider's stock worth $925,000 after purchasing an additional 7,250 shares in the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CTO Jeffery Jon Hayward sold 1,364 shares of the stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 19,867 shares of the company's stock, valued at $1,377,975.12. This represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Edward Chamberlain sold 600 shares of the company's stock in a transaction 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 represents 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 corporate insiders.

TriNet Group Price Performance

NYSE:TNET traded down $2.27 on Wednesday, reaching $83.20. The stock had a trading volume of 281,371 shares, compared to its average volume of 385,922. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 13.16. The company has a market capitalization of $4.03 billion, a P/E ratio of 24.33 and a beta of 0.91. TriNet Group, Inc. has a 1-year low of $65.43 and a 1-year high of $116.26. The stock has a fifty day moving average price of $79.03 and a 200-day moving average price of $84.80.

TriNet Group (NYSE:TNET - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $319.36 million. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. During the same period in the previous year, the business earned $2.18 EPS. Research analysts forecast that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group Increases Dividend

The firm also recently announced 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 represents a $1.10 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Tuesday, April 1st. This is a boost from TriNet Group's previous quarterly dividend of $0.25. TriNet Group's dividend payout ratio is presently 32.84%.

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.