American Century Companies Inc. Has $68 Million Stock Holdings in TriNet Group, Inc. $TNET

Key Points

• American Century Companies Inc. increased its stake in TriNet Group by 183.3% in Q1, owning a total of 858,205 shares worth approximately $68 million.
• JPMorgan Chase & Co. has lowered its price target for TriNet Group from $76.00 to $75.00, rating it as "underweight."
• TriNet Group reported Q2 earnings of $1.15 per share, exceeding estimates, and announced a quarterly dividend of $0.275 per share, reflecting a 1.7% yield.

American Century Companies Inc. lifted its holdings in TriNet Group, Inc. (NYSE:TNET - Free Report) by 183.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 858,205 shares of the business services provider's stock after buying an additional 555,258 shares during the quarter. American Century Companies Inc. owned about 1.77% of TriNet Group worth $68,004,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TNET. LRI Investments LLC raised its holdings in shares of TriNet Group by 643.8% in the fourth 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 last quarter. PNC Financial Services Group Inc. raised its holdings in shares of TriNet Group by 58.4% in 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 during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of TriNet Group in the first quarter valued at about $206,000. Xponance Inc. raised its holdings in TriNet Group by 6.4% during the 1st quarter. Xponance Inc. now owns 2,613 shares of the business services provider's stock worth $207,000 after purchasing an additional 157 shares during the last quarter. Finally, AE Wealth Management LLC bought a new stake in TriNet Group during the 1st quarter worth about $208,000. 96.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 600 shares of TriNet Group 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 sale, the director directly owned 38,440 shares of the company's stock, valued at approximately $2,467,079.20. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Anthony Shea Treadway sold 2,583 shares of TriNet Group stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $66.07, for a total value of $170,658.81. Following the sale, the senior vice president directly owned 29,437 shares in the company, valued at $1,944,902.59. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,620 shares of company stock valued at $526,318. 38.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their price target on 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 research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, TriNet Group currently has a consensus rating of "Reduce" and a consensus price target of $96.33.

TriNet Group Stock Performance

TNET traded up $3.4040 during trading hours on Friday, reaching $68.9640. The company's stock had a trading volume of 1,673,068 shares, compared to its average volume of 534,869. The company has a debt-to-equity ratio of 8.36, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $3.35 billion, a PE ratio of 23.70 and a beta of 0.83. The company's 50-day moving average is $68.98 and its 200-day moving average is $75.55. TriNet Group, Inc. has a 52 week low of $62.55 and a 52 week high of $104.06.

TriNet Group (NYSE:TNET - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $282.90 million for the quarter, compared to analysts' expectations of $278.93 million. TriNet Group had a return on equity of 208.35% and a net margin of 2.85%.During the same quarter last year, the business earned $1.53 EPS. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. On average, equities analysts forecast that TriNet Group, Inc. will post 3.04 EPS 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. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $1.10 annualized dividend and a yield of 1.6%. TriNet Group's dividend payout ratio (DPR) 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.