TriNet Group, Inc. $TNET Shares Sold by Comerica Bank

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

A number of other large investors have also recently made changes to their positions in TNET. Ameriprise Financial Inc. boosted its stake in shares of TriNet Group by 239.3% during the 4th quarter. Ameriprise Financial Inc. now owns 22,914 shares of the business services provider's stock worth $2,080,000 after purchasing an additional 16,160 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of TriNet Group by 42.6% during the 4th quarter. BNP Paribas Financial Markets now owns 60,091 shares of the business services provider's stock worth $5,454,000 after purchasing an additional 17,945 shares during the period. Bank of America Corp DE boosted its stake in shares of TriNet Group by 4.7% during the 4th quarter. Bank of America Corp DE now owns 184,032 shares of the business services provider's stock worth $16,705,000 after purchasing an additional 8,299 shares during the period. Deutsche Bank AG boosted its stake in shares of TriNet Group by 49.4% during the 4th quarter. Deutsche Bank AG now owns 29,122 shares of the business services provider's stock worth $2,643,000 after purchasing an additional 9,627 shares during the period. Finally, LRT Capital Management LLC boosted its stake in shares of TriNet Group by 95.9% during the 4th quarter. LRT Capital Management LLC now owns 20,512 shares of the business services provider's stock worth $1,862,000 after purchasing an additional 10,039 shares during the period. 96.81% of the stock is owned by hedge funds and other institutional investors.

TriNet Group Stock Down 2.9%

Shares of NYSE:TNET traded down $2.10 during trading hours on Friday, hitting $69.46. The company's stock had a trading volume of 122,812 shares, compared to its average volume of 440,695. TriNet Group, Inc. has a 52 week low of $62.55 and a 52 week 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 capitalization of $3.38 billion, a price-to-earnings ratio of 23.90 and a beta of 0.84. The firm's fifty day moving average price is $67.85 and its 200 day moving average price is $74.55.

TriNet Group (NYSE:TNET - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The business services provider reported $1.15 EPS for the quarter, beating the consensus estimate of $1.03 by $0.12. The business had revenue of $282.90 million during the quarter, compared to analyst estimates of $278.93 million. TriNet Group had a net margin of 2.85% and a return on equity of 208.35%. During the same quarter in the previous year, the business posted $1.53 EPS. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. As a group, research analysts expect that TriNet Group, Inc. will post 3.04 EPS for the current year.

Insider Activity

In other TriNet Group news, SVP Sidney A. Majalya sold 775 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.80, for a total transaction of $53,320.00. Following the transaction, the senior vice president owned 21,708 shares in the company, valued at approximately $1,493,510.40. This represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Anthony Shea Treadway sold 2,583 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $66.07, for a total transaction of $170,658.81. Following the transaction, the senior vice president owned 29,437 shares in the company, valued at $1,944,902.59. The trade was a 8.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,395 shares of company stock worth $560,612 over the last 90 days. 38.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

About TriNet Group

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.