3,952 Shares in TriNet Group, Inc. $TNET Bought by Aigen Investment Management LP

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 bought a new position in TriNet Group, Inc. (NYSE:TNET - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,952 shares of the business services provider's stock, valued at approximately $313,000.

Other institutional investors have also made changes to their positions in the company. LRI Investments LLC grew its position in TriNet Group by 643.8% during the 4th quarter. LRI Investments LLC now owns 662 shares of the business services provider's stock worth $60,000 after purchasing an additional 573 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of TriNet Group by 58.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,291 shares of the business services provider's stock valued at $182,000 after buying an additional 845 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in TriNet Group during the first quarter valued at $206,000. Xponance Inc. lifted its stake in TriNet Group by 6.4% in the 1st quarter. Xponance Inc. now owns 2,613 shares of the business services provider's stock worth $207,000 after acquiring an additional 157 shares in the last quarter. Finally, AE Wealth Management LLC purchased a new stake in TriNet Group in the 1st quarter worth about $208,000. 96.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TriNet Group news, Director Paul Edward Chamberlain sold 600 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $64.18, for a total transaction of $38,508.00. Following the transaction, the director directly owned 38,440 shares in the company, valued at $2,467,079.20. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeffery Jon Hayward sold 1,437 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $82.04, for a total value of $117,891.48. Following the completion of the sale, the chief technology officer directly owned 32,932 shares of the company's stock, valued at $2,701,741.28. This represents a 4.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,720 shares of company stock valued at $213,799 over the last ninety days. Corporate insiders own 38.10% of the company's stock.

TriNet Group Stock Up 1.2%

Shares of NYSE TNET traded up $0.78 during mid-day trading on Monday, reaching $66.13. The company had a trading volume of 110,871 shares, compared to its average volume of 442,796. The company has a debt-to-equity ratio of 8.36, a quick ratio of 1.10 and a current ratio of 1.10. 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 $70.26 and its 200-day moving average is $76.22. The stock has a market capitalization of $3.21 billion, a PE ratio of 22.73 and a beta of 0.83.

TriNet Group (NYSE:TNET - Get Free Report) last issued its earnings results on Friday, July 25th. The business services provider reported $1.15 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm posted $1.53 EPS. As a group, equities analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Tuesday, July 1st were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, July 1st. TriNet Group's payout ratio is currently 37.80%.

Analysts Set New Price Targets

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

TriNet Group 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.