TriNet Group, Inc. (NYSE:TNET) Stock Position Raised by Allianz Asset Management GmbH

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 boosted its position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 45.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,411 shares of the business services provider's stock after buying an additional 10,152 shares during the quarter. Allianz Asset Management GmbH owned 0.07% of TriNet Group worth $2,568,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TNET. Raymond James Financial Inc. bought a new position in TriNet Group during the fourth quarter valued at about $1,395,000. Sei Investments Co. lifted its holdings in shares of TriNet Group by 52.4% during the fourth quarter. Sei Investments Co. now owns 82,926 shares of the business services provider's stock valued at $7,527,000 after purchasing an additional 28,524 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of TriNet Group during the fourth quarter valued at $908,000. LPL Financial LLC lifted its holdings in shares of TriNet Group by 6.5% during the fourth quarter. LPL Financial LLC now owns 9,786 shares of the business services provider's stock valued at $888,000 after purchasing an additional 597 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of TriNet Group by 1.2% during 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 purchasing an additional 36,216 shares during the last quarter. Institutional investors own 96.81% of the company's stock.

Insider Activity

In other news, CTO Jeffery Jon Hayward sold 1,437 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $82.04, for a total transaction 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 trade represents a 4.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Sidney A. Majalya sold 500 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $83.14, for a total value of $41,570.00. Following the sale, the senior vice president directly owned 23,033 shares of the company's stock, valued at $1,914,963.62. This trade represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,120 shares of company stock valued at $175,291. Company insiders own 38.10% of the company's stock.

TriNet Group Stock Down 6.5%

TriNet Group stock traded down $4.44 during mid-day trading on Friday, hitting $63.37. The company's stock had a trading volume of 809,230 shares, compared to its average volume of 448,766. The firm's 50 day moving average is $74.25 and its 200 day moving average is $78.65. The company has a market cap of $3.08 billion, a PE ratio of 21.78 and a beta of 0.84. The company has a debt-to-equity ratio of 8.36, a current ratio of 1.10 and a quick ratio of 1.08. TriNet Group, Inc. has a 52-week low of $63.23 and a 52-week high of $104.06.

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 (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.12. The firm had revenue of $282.90 million during the quarter, compared to the consensus estimate of $278.93 million. TriNet Group had a return on equity of 208.35% and a net margin of 2.85%. During the same period in the prior year, the business earned $1.53 EPS. On average, analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Tuesday, July 1st were paid 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 dividend payout ratio is currently 37.80%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reduced 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.

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.