Algert Global LLC Makes New Investment in TriNet Group, Inc. $TNET

Key Points

• Algert Global LLC has acquired a new stake in TriNet Group, purchasing 39,140 shares valued at approximately $3.1 million.
• JPMorgan Chase & Co. has downgraded its price target for TriNet Group from $76.00 to $75.00 and set an "underweight" rating on the stock, reflecting cautious sentiment among analysts.
• TriNet Group reported earnings of $1.15 per share for the recent quarter, surpassing analysts' expectations, and announced a quarterly dividend of $0.275, providing a dividend yield of 1.7%.

Algert Global LLC purchased a new stake 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 SEC. The institutional investor purchased 39,140 shares of the business services provider's stock, valued at approximately $3,101,000. Algert Global LLC owned 0.08% of TriNet Group at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. dropped their price target on shares of TriNet Group from $76.00 to $75.00 and set an "underweight" rating for the company in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $96.33.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,437 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $82.04, for a total transaction 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 represents a 4.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ralph A. Clark sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $66.42, for a total transaction of $199,260.00. Following the sale, the director owned 9,390 shares in the company, valued at approximately $623,683.80. This trade represents a 24.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,620 shares of company stock valued at $526,318 in the last quarter. Corporate insiders own 38.10% of the company's stock.

TriNet Group Trading Up 5.2%

Shares of TNET stock traded up $3.4040 during trading hours on Friday, hitting $68.9640. The company had a trading volume of 1,673,068 shares, compared to its average volume of 534,869. The company's fifty day moving average is $68.98 and its 200 day moving average is $75.44. 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, Inc. has a fifty-two week low of $62.55 and a fifty-two week high of $104.06. The stock has a market capitalization of $3.35 billion, a PE ratio of 23.70 and a beta of 0.83.

TriNet Group (NYSE:TNET - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The business services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.03 by $0.12. TriNet Group had a net margin of 2.85% and a return on equity of 208.35%. The firm 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 business posted $1.53 EPS. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. Research analysts expect that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

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

About TriNet Group

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.