Ameriprise Financial Inc. Buys 16,160 Shares of TriNet Group, Inc. (NYSE:TNET)

Ameriprise Financial Inc. boosted its holdings in TriNet Group, Inc. (NYSE:TNET - Free Report) by 239.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,914 shares of the business services provider's stock after buying an additional 16,160 shares during the quarter. Ameriprise Financial Inc.'s holdings in TriNet Group were worth $2,080,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its position in TriNet Group by 45.5% during the 4th quarter. IFP Advisors Inc now owns 767 shares of the business services provider's stock worth $71,000 after purchasing an additional 240 shares in the last quarter. Avion Wealth grew its position in TriNet Group by 14.9% during the 4th quarter. Avion Wealth now owns 1,081 shares of the business services provider's stock worth $98,000 after purchasing an additional 140 shares in the last quarter. KBC Group NV grew its position in TriNet Group by 43.7% during the 4th quarter. KBC Group NV now owns 1,365 shares of the business services provider's stock worth $124,000 after purchasing an additional 415 shares in the last quarter. PNC Financial Services Group Inc. grew its position in TriNet Group by 118.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,446 shares of the business services provider's stock worth $131,000 after purchasing an additional 785 shares in the last quarter. Finally, Xponance Inc. grew its position in TriNet Group by 17.8% during the 4th quarter. Xponance Inc. now owns 2,456 shares of the business services provider's stock worth $223,000 after purchasing an additional 371 shares in the last quarter. Institutional investors and hedge funds own 96.81% of the company's stock.

Insiders Place Their Bets

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 now owns 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 dated Wednesday, May 21st. The stock was sold at an average price of $83.14, for a total transaction of $41,570.00. Following the sale, the senior vice president now owns 23,033 shares of the company's stock, valued at approximately $1,914,963.62. This represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,120 shares of company stock worth $175,291. Company insiders own 38.10% of the company's stock.

TriNet Group Stock Performance

TNET traded up $1.23 during trading on Friday, hitting $83.37. The stock had a trading volume of 311,106 shares, compared to its average volume of 381,983. The firm has a market cap of $4.04 billion, a PE ratio of 24.38 and a beta of 0.91. TriNet Group, Inc. has a 12 month low of $65.43 and a 12 month high of $116.26. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16. The company has a 50 day simple moving average of $79.65 and a 200-day simple moving average of $84.35.

TriNet Group (NYSE:TNET - Get Free Report) last posted its earnings results on Friday, April 25th. The business services provider reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.67 by $0.32. The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $319.36 million. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. During the same quarter in the previous year, the firm posted $2.18 earnings per share. Analysts expect that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were issued a $0.275 dividend. The ex-dividend date was Tuesday, April 1st. This is a positive change from TriNet Group's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 1.32%. TriNet Group's dividend payout ratio (DPR) is 32.84%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TNET. Needham & Company LLC reiterated a "hold" rating on shares of TriNet Group in a research report on Thursday, March 13th. TD Cowen cut shares of TriNet Group from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $104.00 to $74.00 in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of TriNet Group from $75.00 to $76.00 and gave the company an "underweight" rating in a research note on Monday, April 28th.

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.