Walleye Capital LLC Invests $672,000 in TriNet Group, Inc. $TNET

Key Points

• Walleye Capital LLC acquired 8,477 shares of TriNet Group, Inc. for about $672,000 in the first quarter of 2023.
• TriNet Group reported earnings of $1.15 per share, exceeding analysts' expectations, with revenue of $282.90 million for the last quarter, against forecasts of $278.93 million.
• The company recently declared a quarterly dividend of $0.275 per share, indicating an annual yield of 1.5%, with a payout ratio of 37.80%.

Walleye Capital LLC purchased a new position in TriNet Group, Inc. (NYSE:TNET - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,477 shares of the business services provider's stock, valued at approximately $672,000.

Several other institutional investors have also added to or reduced their stakes in TNET. LRI Investments LLC boosted its holdings in TriNet Group by 643.8% in the fourth quarter. LRI Investments LLC now owns 662 shares of the business services provider's stock worth $60,000 after acquiring an additional 573 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in TriNet Group by 58.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,291 shares of the business services provider's stock worth $182,000 after acquiring an additional 845 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of TriNet Group by 633.5% during the first quarter. AlphaQuest LLC now owns 2,472 shares of the business services provider's stock worth $196,000 after purchasing an additional 2,135 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of TriNet Group during the first quarter worth about $206,000. Finally, Xponance Inc. lifted its holdings in shares of TriNet Group by 6.4% during the first quarter. Xponance Inc. now owns 2,613 shares of the business services provider's stock worth $207,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 96.81% of the company's stock.

TriNet Group Stock Performance

NYSE:TNET traded up $0.01 during trading hours on Thursday, reaching $71.20. The company had a trading volume of 96,604 shares, compared to its average volume of 446,482. TriNet Group, Inc. has a 1-year low of $62.55 and a 1-year high of $100.01. The firm has a market cap of $3.46 billion, a PE ratio of 24.48 and a beta of 0.84. The business's 50 day moving average price is $68.31 and its 200-day moving average price is $74.61. The company has a debt-to-equity ratio of 8.36, a current ratio of 1.10 and a quick ratio of 1.10.

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

TriNet Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Tuesday, July 1st were issued a $0.275 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $1.10 dividend on an annualized basis and a yield of 1.5%. TriNet Group's payout ratio is presently 37.80%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. decreased their target price 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 given a Sell rating to the company. According to data from MarketBeat, TriNet Group currently has a consensus rating of "Reduce" and a consensus target price of $96.33.

Insider Buying and Selling

In other TriNet Group news, Director Ralph A. Clark sold 3,000 shares of the business's stock in a transaction that occurred on 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 directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 600 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $64.18, for a total value of $38,508.00. Following the completion of the transaction, the director directly owned 38,440 shares of the company's stock, valued at $2,467,079.20. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,395 shares of company stock valued at $560,612 in the last three months. 37.10% of the stock is currently owned by company insiders.

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.