Allianz Asset Management GmbH Buys 10,152 Shares of TriNet Group, Inc. (NYSE:TNET)

Key Points

• Allianz Asset Management GmbH increased its stake in TriNet Group by 45.6%, now owning 32,411 shares valued at approximately $2.57 million.
• Several institutional investors, including LRI Investments LLC and GAMMA Investing LLC, have significantly increased their positions in TriNet Group stock, highlighting strong investor interest.
• JPMorgan Chase & Co. has downgraded TriNet Group's price target from $76.00 to $75.00, indicating an "underweight" rating for the stock.

Allianz Asset Management GmbH lifted its stake in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 45.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,411 shares of the business services provider's stock after purchasing an additional 10,152 shares during the period. Allianz Asset Management GmbH owned approximately 0.07% of TriNet Group worth $2,568,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in TriNet Group by 4,677.9% in the first quarter. GAMMA Investing LLC now owns 3,249 shares of the business services provider's stock valued at $257,000 after buying an additional 3,181 shares during the period. Vanguard Group Inc. lifted its holdings in TriNet Group by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,992,008 shares of the business services provider's stock valued at $271,585,000 after buying an additional 36,216 shares during the period. Farther Finance Advisors LLC raised its holdings in TriNet Group by 11.4% in the first quarter. Farther Finance Advisors LLC now owns 4,165 shares of the business services provider's stock worth $331,000 after purchasing an additional 427 shares during the period. SG Americas Securities LLC acquired a new stake in TriNet Group in the first quarter worth $987,000. Finally, Bank of New York Mellon Corp raised its holdings in TriNet Group by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 232,279 shares of the business services provider's stock worth $18,406,000 after purchasing an additional 9,821 shares during the period. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at TriNet Group

In related news, CTO Jeffery Jon Hayward sold 1,437 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $82.04, for a total value of $117,891.48. Following the completion of the transaction, the chief technology officer owned 32,932 shares of the company's stock, valued at approximately $2,701,741.28. This trade represents a 4.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Sidney A. Majalya sold 500 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $83.14, for a total transaction of $41,570.00. Following the completion of the transaction, the senior vice president directly owned 23,033 shares of the company's stock, valued at approximately $1,914,963.62. This trade represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,120 shares of company stock valued at $175,291 in the last three months. 38.10% of the stock is owned by insiders.

TriNet Group Stock Down 6.5%

Shares of TNET stock traded down $4.44 during trading hours on Friday, hitting $63.37. 809,231 shares of the company were exchanged, compared to its average volume of 541,420. The business has a 50 day moving average of $73.90 and a two-hundred day moving average of $78.45. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 8.36. TriNet Group, Inc. has a 52 week low of $63.23 and a 52 week high of $104.06. The company has a market capitalization of $3.08 billion, a PE ratio of 21.78 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 earnings per share (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 company had revenue of $282.90 million during the quarter, compared to the consensus estimate of $278.93 million. During the same quarter in the prior year, the firm earned $1.53 earnings per share. Analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Tuesday, July 1st were given 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 1.7%. TriNet Group's dividend payout ratio is currently 37.80%.

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.