258,918 Shares of TriNet Group, Inc. $TNET Bought by Bank of America Corp DE

Key Points

• Bank of America purchased 258,918 TriNet Group shares worth approximately $12.8 million in the second quarter, joining other institutions that recently initiated or increased positions. Institutional investors now own 96.81% of TNET.
• Analyst sentiment remains cautious: five analysts rate the stock “Hold,” while one rates it “Buy” and one “Sell,” producing an average “Hold” rating and a $56.80 price target.
• TriNet reported quarterly EPS of $1.55, beating estimates of $0.93, on revenue of $1.18 billion. The company also declared a $0.29 quarterly dividend, equal to a 1.8% yield.

Bank of America Corp DE purchased a new stake in TriNet Group, Inc. (NYSE:TNET - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 258,918 shares of the business services provider's stock, valued at approximately $12,814,000. Bank of America Corp DE owned 0.56% of TriNet Group as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of TriNet Group during the second quarter worth $128,161,000. Norges Bank bought a new position in shares of TriNet Group in the fourth quarter worth approximately $28,266,000. Man Group plc bought a new position in shares of TriNet Group in the 2nd quarter worth $13,753,000. Bank of New York Mellon Corp increased its stake in TriNet Group by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 261,792 shares of the business services provider's stock valued at $9,537,000 after acquiring an additional 3,318 shares during the last quarter. Finally, Heron Bay Capital Management purchased a new stake in TriNet Group during the second quarter valued at about $12,810,000. 96.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TNET has been the subject of a number of recent research reports. Truist Financial boosted their target price on TriNet Group from $50.00 to $62.00 and gave the stock a "hold" rating in a research report on Wednesday, July 22nd. Zacks Research downgraded shares of TriNet Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 3rd. TD Cowen boosted their price objective on shares of TriNet Group from $46.00 to $49.00 and gave the stock a "hold" rating in a report on Friday, June 26th. Weiss Ratings raised shares of TriNet Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of TriNet Group from $45.00 to $50.00 and gave the company an "underweight" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $56.80.

TriNet Group Price Performance

Shares of TriNet Group stock opened at $65.14 on Friday. The business has a 50 day moving average of $67.40 and a 200 day moving average of $51.95. TriNet Group, Inc. has a 52 week low of $33.60 and a 52 week high of $73.07. The company has a market cap of $2.99 billion, a PE ratio of 17.42 and a beta of 0.94. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 7.17.

TriNet Group (NYSE:TNET - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The business services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $0.93 by $0.62. TriNet Group had a net margin of 3.58% and a return on equity of 227.28%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the business earned $1.15 EPS. TriNet Group has set its FY 2026 guidance at 4.500-5.100 EPS. As a group, equities research analysts forecast that TriNet Group, Inc. will post 3.87 earnings per share for the current year.

TriNet Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Thursday, October 1st will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.16 annualized dividend and a dividend yield of 1.8%. TriNet Group's dividend payout ratio is currently 31.02%.

Insider Transactions at TriNet Group

In other news, Director Paul Chamberlain sold 2,400 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $69.70, for a total transaction of $167,280.00. Following the completion of the transaction, the director directly owned 40,175 shares of the company's stock, valued at $2,800,197.50. The trade was a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Anthony Shea Treadway sold 1,068 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $69.80, for a total transaction of $74,546.40. Following the completion of the sale, the senior vice president owned 65,506 shares in the company, valued at $4,572,318.80. This represents a 1.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 10,016 shares of company stock worth $691,600. 40.00% of the stock is owned by company insiders.

TriNet Group Company Profile

TriNet Group, Inc is a professional employer organization and human resources services company that helps small and midsize businesses manage employment-related administrative, regulatory and operational responsibilities. Through its co-employment model, TriNet can support clients with payroll administration, employee benefits, human capital management and risk mitigation services.

The company provides cloud-based tools and services covering payroll and tax administration, time and attendance, recruiting, onboarding, performance management and employee engagement.

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