Aigen Investment Management LP Purchases New Holdings in TriNet Group, Inc. (NYSE:TNET)

Key Points

• Aigen Investment Management LP has acquired a new stake in TriNet Group, Inc., purchasing 3,952 shares valued at approximately $313,000 during the 1st quarter of the year.
• JPMorgan Chase & Co. has lowered its price target for TriNet Group from $76 to $75, rating the stock as "underweight."
• TriNet Group reported earnings per share of $1.15 for the last quarter, above analysts' expectations of $1.03, alongside a revenue of $282.90 million.

Aigen Investment Management LP purchased a new stake in TriNet Group, Inc. (NYSE:TNET - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,952 shares of the business services provider's stock, valued at approximately $313,000.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in TriNet Group by 4,677.9% in the 1st quarter. GAMMA Investing LLC now owns 3,249 shares of the business services provider's stock valued at $257,000 after acquiring an additional 3,181 shares during the period. Farther Finance Advisors LLC increased its position in TriNet Group by 11.4% in the 1st quarter. Farther Finance Advisors LLC now owns 4,165 shares of the business services provider's stock valued at $331,000 after acquiring an additional 427 shares during the period. SG Americas Securities LLC acquired a new position in TriNet Group in the 1st quarter valued at about $987,000. Bank of New York Mellon Corp increased its position in TriNet Group by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 232,279 shares of the business services provider's stock valued at $18,406,000 after acquiring an additional 9,821 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in TriNet Group in the 4th quarter valued at about $1,395,000. Institutional investors and hedge funds own 96.81% of the company's stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their price objective on TriNet Group from $76.00 to $75.00 and set an "underweight" rating on the stock in a report on Monday, July 28th.

TriNet Group Price Performance

Shares of TNET opened at $66.93 on Thursday. TriNet Group, Inc. has a twelve month low of $62.55 and a twelve month high of $104.06. The stock's 50 day moving average is $70.95 and its two-hundred day moving average is $76.86. The firm has a market capitalization of $3.25 billion, a PE ratio of 23.00 and a beta of 0.83. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 8.36.

TriNet Group (NYSE:TNET - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The business services provider reported $1.15 earnings per share 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 for the quarter, compared to analyst estimates of $278.93 million. During the same quarter in the previous year, the company earned $1.53 EPS. Research analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $1.10 annualized dividend and a dividend yield of 1.6%. TriNet Group's payout ratio is 37.80%.

Insider Transactions at TriNet Group

In other news, SVP Sidney A. Majalya sold 500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $83.14, for a total transaction of $41,570.00. Following the sale, the senior vice president owned 23,033 shares of the company's stock, valued at $1,914,963.62. The trade was a 2.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,437 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $82.04, for a total value of $117,891.48. Following the sale, the chief technology officer directly owned 32,932 shares in the company, valued at $2,701,741.28. This trade represents a 4.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,720 shares of company stock valued at $213,799 in the last quarter. 38.10% of the stock is currently owned by corporate 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.

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