BlackRock Inc. Invests $128.16 Million in TriNet Group, Inc. $TNET

BlackRock Inc. acquired a new position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,589,639 shares of the business services provider's stock, valued at approximately $128,161,000. BlackRock Inc. owned 5.64% of TriNet Group as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TNET. Caitong International Asset Management Co. Ltd lifted its stake in TriNet Group by 160.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 479 shares of the business services provider's stock valued at $28,000 after purchasing an additional 295 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of TriNet Group in the fourth quarter worth $28,000. Quarry LP increased its position in shares of TriNet Group by 524.7% in the third quarter. Quarry LP now owns 456 shares of the business services provider's stock valued at $31,000 after acquiring an additional 383 shares during the period. Essential Partners LLC raised its position in TriNet Group by 427.4% during the 1st quarter. Essential Partners LLC now owns 944 shares of the business services provider's stock valued at $34,000 after purchasing an additional 765 shares during the last quarter. Finally, Cache Advisors LLC purchased a new stake in TriNet Group in the first quarter worth $36,000. 96.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TNET has been the topic of a number of research reports. TD Cowen boosted their target price on shares of TriNet Group from $46.00 to $49.00 and gave the company a "hold" rating in a report on Friday, June 26th. JPMorgan Chase & Co. raised their price objective on TriNet Group from $45.00 to $50.00 and gave the stock an "underweight" rating in a research note on Friday, July 31st. Zacks Research cut TriNet Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 3rd. Truist Financial boosted their price objective on TriNet Group from $50.00 to $62.00 and gave the company a "hold" rating in a research note on Wednesday, July 22nd. Finally, UBS Group reduced their target price on shares of TriNet Group from $62.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, May 5th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $56.80.

TriNet Group Price Performance

Shares of TriNet Group stock opened at $70.60 on Friday. The stock has a 50 day moving average price of $61.73 and a 200-day moving average price of $48.15. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 18.88 and a beta of 0.95. The company has a debt-to-equity ratio of 7.17, a quick ratio of 1.13 and a current ratio of 1.13. TriNet Group, Inc. has a one year low of $33.60 and a one year high of $73.07.

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

TriNet Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 1st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, July 1st. TriNet Group's payout ratio is currently 31.02%.

Insider Activity

In related news, SVP Anthony Shea Treadway sold 1,068 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $69.80, for a total transaction of $74,546.40. Following the completion of the transaction, the senior vice president owned 65,506 shares in the company, valued at approximately $4,572,318.80. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Sidney A. Majalya sold 775 shares of TriNet Group stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $68.53, for a total transaction of $53,110.75. Following the completion of the transaction, the senior vice president owned 53,212 shares in the company, valued at approximately $3,646,618.36. This represents a 1.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 7,616 shares of company stock worth $524,320. Corporate insiders own 40.00% of the company's stock.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source