Comerica Bank Sells 16,417 Shares of TriNet Group, Inc. $TNET

Key Points

• Comerica Bank significantly reduced its holdings in TriNet Group, Inc. by 73% during the first quarter, selling 16,417 shares and holding 6,060 shares valued at approximately $480,000.
• TriNet Group announced a quarterly dividend of $0.275, resulting in an annualized dividend yield of 1.6%, with a payout ratio of 37.80%.
• JPMorgan Chase & Co. downgraded TriNet Group's price target from $76.00 to $75.00, issuing an "underweight" rating, while the current consensus target price stands at $96.33.

Comerica Bank trimmed its holdings in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 73.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,060 shares of the business services provider's stock after selling 16,417 shares during the quarter. Comerica Bank's holdings in TriNet Group were worth $480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. LRI Investments LLC increased its position in shares of TriNet Group by 643.8% during the fourth quarter. LRI Investments LLC now owns 662 shares of the business services provider's stock valued at $60,000 after acquiring an additional 573 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in TriNet Group by 58.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,291 shares of the business services provider's stock valued at $182,000 after purchasing an additional 845 shares during the period. AlphaQuest LLC grew its holdings in TriNet Group by 633.5% during the first quarter. AlphaQuest LLC now owns 2,472 shares of the business services provider's stock valued at $196,000 after purchasing an additional 2,135 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in TriNet Group during the first quarter valued at $206,000. Finally, Xponance Inc. grew its holdings in TriNet Group by 6.4% during the first quarter. Xponance Inc. now owns 2,613 shares of the business services provider's stock valued at $207,000 after purchasing an additional 157 shares during the period. 96.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TriNet Group

In other news, SVP Anthony Shea Treadway sold 2,583 shares of TriNet Group stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $66.07, for a total value of $170,658.81. Following the transaction, the senior vice president owned 29,437 shares in the company, valued at approximately $1,944,902.59. The trade was a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,437 shares of TriNet Group stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.80, for a total value of $98,865.60. Following the completion of the transaction, the chief technology officer owned 30,424 shares in the company, valued at approximately $2,093,171.20. This represents a 4.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,395 shares of company stock valued at $560,612. 38.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their price objective on TriNet Group from $76.00 to $75.00 and set an "underweight" rating for the company in a report on Monday, July 28th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $96.33.

TriNet Group Price Performance

NYSE TNET traded down $2.46 during trading hours on Friday, reaching $69.11. 310,139 shares of the stock traded hands, compared to its average volume of 392,576. The stock has a 50 day simple moving average of $67.74 and a two-hundred day simple moving average of $74.55. TriNet Group, Inc. has a 1 year low of $62.55 and a 1 year high of $99.78. The company has a debt-to-equity ratio of 8.36, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 23.75 and a beta of 0.84.

TriNet Group (NYSE:TNET - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $282.90 million for the quarter, compared to the consensus estimate of $278.93 million. TriNet Group had a return on equity of 208.35% and a net margin of 2.85%.During the same quarter in the previous year, the business earned $1.53 earnings per share. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. On average, analysts predict that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

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.