American Century Companies Inc. Grows Position 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 position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 183.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 858,205 shares of the business services provider's stock after acquiring an additional 555,258 shares during the quarter. American Century Companies Inc. owned approximately 1.77% of TriNet Group worth $68,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new position in shares of TriNet Group during the 1st quarter worth $1,085,000. Russell Investments Group Ltd. grew its stake in shares of TriNet Group by 8.0% during the 1st quarter. Russell Investments Group Ltd. now owns 85,179 shares of the business services provider's stock worth $6,750,000 after acquiring an additional 6,324 shares during the period. Nuveen LLC bought a new position in shares of TriNet Group during the 1st quarter worth $18,315,000. Aigen Investment Management LP bought a new position in shares of TriNet Group during the 1st quarter worth $313,000. Finally, Virtu Financial LLC bought a new position in shares of TriNet Group during the 1st quarter worth $371,000. Institutional investors own 96.81% of the company's stock.

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 value of $38,508.00. Following the sale, the director owned 38,440 shares of the company's stock, valued at $2,467,079.20. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ralph A. Clark sold 3,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $66.42, for a total value of $199,260.00. Following the completion of the sale, the director directly owned 9,390 shares in the company, valued at approximately $623,683.80. The trade was a 24.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,620 shares of company stock worth $526,318. 37.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut 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 equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, TriNet Group currently has an average rating of "Reduce" and a consensus target price of $96.33.

TriNet Group Price Performance

NYSE TNET 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 514,086. TriNet Group, Inc. has a 52 week low of $62.55 and a 52 week high of $104.06. The firm has a 50 day simple moving average of $68.98 and a 200 day simple moving average of $75.33. 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 capitalization of $3.35 billion, a price-to-earnings ratio of 23.70 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 EPS 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 business had revenue of $282.90 million during the quarter, compared to the consensus estimate of $278.93 million. During the same quarter last year, the company earned $1.53 EPS. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. Equities research analysts expect that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Dividend Announcement

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

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.