Bank of New York Mellon Corp Makes New Investment in TriNet Group, Inc. $TNET

Key Points

• Bank of New York Mellon acquired 261,032 TriNet Group shares worth approximately $12.9 million, giving it a 0.57% stake. Institutional investors and hedge funds collectively own 96.81% of the company.
• Analyst sentiment remains cautious: TriNet has an average “Hold” rating and a consensus price target of $56.80, below its reported share price of $66.74. Recent target increases were offset by downgrades and an “underweight” rating from JPMorgan.
• TriNet reported quarterly adjusted earnings of $1.55 per share, exceeding the $0.93 consensus estimate, on revenue of $1.18 billion. The company also pays a quarterly dividend of $0.29 per share, representing a 1.7% yield.

Bank of New York Mellon Corp acquired a new stake in TriNet Group, Inc. (NYSE:TNET - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 261,032 shares of the business services provider's stock, valued at approximately $12,918,000. Bank of New York Mellon Corp owned 0.57% of TriNet Group as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in TriNet Group by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,009 shares of the business services provider's stock worth $1,506,000 after purchasing an additional 819 shares during the period. Millennium Management LLC lifted its stake in TriNet Group by 3,995.7% in the 1st quarter. Millennium Management LLC now owns 138,926 shares of the business services provider's stock valued at $11,008,000 after acquiring an additional 135,534 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in TriNet Group by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,575 shares of the business services provider's stock worth $6,068,000 after acquiring an additional 470 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of TriNet Group in the first quarter valued at approximately $3,204,000. Finally, Intech Investment Management LLC lifted its position in shares of TriNet Group by 10.3% in the first quarter. Intech Investment Management LLC now owns 16,862 shares of the business services provider's stock worth $1,336,000 after purchasing an additional 1,577 shares in the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on TNET shares. Zacks Research cut TriNet Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 3rd. Weiss Ratings upgraded TriNet Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 25th. 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 report on Wednesday, July 22nd. TD Cowen upped their price target on shares of TriNet Group from $46.00 to $49.00 and gave the company a "hold" rating in a research note on Friday, June 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of TriNet Group from $45.00 to $50.00 and gave the stock an "underweight" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, TriNet Group has an average rating of "Hold" and a consensus price target of $56.80.

Insider Buying and Selling at TriNet Group

In other news, Director Paul Edward Chamberlain sold 2,400 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $69.70, for a total value of $167,280.00. Following the completion of the transaction, the director directly owned 40,175 shares of the company's stock, valued at $2,800,197.50. This trade represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne B. Lowell sold 5,773 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $68.71, for a total transaction of $396,662.83. Following the sale, the director directly owned 86,449 shares in the company, valued at $5,939,910.79. This trade represents a 6.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,016 shares of company stock worth $691,600 over the last ninety days. Company insiders own 40.00% of the company's stock.

TriNet Group Price Performance

TriNet Group stock opened at $66.74 on Wednesday. TriNet Group, Inc. has a 52-week low of $33.60 and a 52-week high of $73.07. The company has a debt-to-equity ratio of 7.17, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 17.84 and a beta of 0.94. The stock's 50 day moving average price is $62.69 and its two-hundred day moving average price is $48.40.

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

TriNet Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, July 1st. TriNet Group's dividend payout ratio is 31.02%.

TriNet Group Company 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.

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