Bank of America Corp DE Buys 148,451 Shares of TriNet Group, Inc. $TNET

Key Points

• Bank of America increased its TriNet Group stake by 89.4% in the first quarter, purchasing 148,451 additional shares to own 314,528 shares worth approximately $11.46 million. Institutional investors collectively hold 96.81% of TNET’s outstanding stock.
• TriNet reported quarterly earnings of $1.55 per share, beating the $0.93 analyst consensus, while revenue totaled $1.18 billion in line with expectations. The company also declared a quarterly dividend of $0.29 per share, representing a 1.6% yield.
• Despite the earnings beat and shares opening at $70.45, analyst sentiment remains cautious: TNET has a consensus rating of “Reduce” and an average price target of $56.80, below its current trading level. Recent insider transactions were also sales by a senior vice president and a director.

Bank of America Corp DE increased its stake in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 89.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 314,528 shares of the business services provider's stock after buying an additional 148,451 shares during the period. Bank of America Corp DE owned 0.68% of TriNet Group worth $11,458,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in TriNet Group by 640.3% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 31,818 shares of the business services provider's stock worth $1,881,000 after purchasing an additional 27,520 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in TriNet Group in the 1st quarter valued at $1,267,000. Northwestern Mutual Wealth Management Co. increased its position in TriNet Group by 5,911,158.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 709,351 shares of the business services provider's stock worth $41,944,000 after buying an additional 709,339 shares during the period. Y Intercept Hong Kong Ltd increased its position in TriNet Group by 77.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 59,638 shares of the business services provider's stock worth $2,173,000 after buying an additional 26,099 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in shares of TriNet Group by 1,052.6% during the first quarter. Quantinno Capital Management LP now owns 135,470 shares of the business services provider's stock worth $4,935,000 after buying an additional 123,717 shares in the last quarter. Institutional investors and hedge funds own 96.81% of the company's stock.

TriNet Group Stock Up 2.5%

Shares of NYSE TNET opened at $70.45 on Friday. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 18.84 and a beta of 0.95. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 7.17. TriNet Group, Inc. has a 12 month low of $33.60 and a 12 month high of $73.07. The stock has a 50-day moving average price of $59.32 and a two-hundred day moving average price of $47.72.

TriNet Group (NYSE:TNET - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The business services provider reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.62. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. TriNet Group had a net margin of 3.58% and a return on equity of 227.28%. During the same period last year, the company posted $1.15 EPS. TriNet Group has set its FY 2026 guidance at 4.500-5.100 EPS. As a group, analysts forecast that TriNet Group, Inc. will post 3.87 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, July 1st. This represents a $1.16 annualized dividend and a dividend yield of 1.6%. TriNet Group's dividend payout ratio is 31.02%.

Insider Buying and Selling at TriNet Group

In other news, SVP Anthony Shea Treadway sold 1,068 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $69.80, for a total value of $74,546.40. Following the completion of the transaction, the senior vice president directly owned 65,506 shares in the company, valued at approximately $4,572,318.80. This represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Wayne B. Lowell sold 5,773 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $68.71, for a total value of $396,662.83. Following the completion of the transaction, the director owned 86,449 shares of the company's stock, valued at $5,939,910.79. The trade was a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 40.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on TNET. Zacks Research downgraded shares of TriNet Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 3rd. Truist Financial lifted their price objective on shares of TriNet Group from $50.00 to $62.00 and gave the stock a "hold" rating in a research note on Wednesday, July 22nd. Weiss Ratings downgraded shares of TriNet Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. increased their target price on shares of TriNet Group from $45.00 to $50.00 and gave the stock an "underweight" rating in a research report on Friday, July 31st. Finally, TD Cowen raised their target price on shares of TriNet Group from $46.00 to $49.00 and gave the stock a "hold" rating in a report on Friday, June 26th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $56.80.

TriNet Group Profile

TriNet Group, Inc is a leading professional employer organization (PEO) that offers integrated human capital management solutions to small and medium-size businesses. Through a bundled suite of services, TriNet manages payroll administration, employee benefits, workers' compensation, risk mitigation and federal and state compliance. Its cloud-based platform provides clients with centralized access to HR tools, analytics and streamlined workforce management capabilities.

Founded in 1988 and headquartered in Dublin, California, TriNet has grown to support thousands of organizations across the United States.

Want to see what other hedge funds are holding TNET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TriNet Group, Inc. (NYSE:TNET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.