Engineers Gate Manager LP Reduces Holdings in TriNet Group, Inc. $TNET

Key Points

• Engineers Gate Manager LP cut its TriNet Group stake by 71.4% in the second quarter, selling 96,661 shares and retaining 38,726 shares valued at approximately $1.92 million. Institutional investors collectively own 96.81% of TNET.
• Analysts maintain a consensus “Hold” rating, with an average price target of $56.80, below the stock’s reported opening price of $69.25. Recent insider activity was also negative, with insiders selling 10,016 shares worth about $691,600.
• TriNet reported quarterly EPS of $1.55, surpassing the $0.93 consensus estimate, while revenue matched expectations at $1.18 billion. The company also declared a quarterly dividend of $0.29 per share, yielding approximately 1.7% annually.

Engineers Gate Manager LP lowered its position in TriNet Group, Inc. (NYSE:TNET - Free Report) by 71.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,726 shares of the business services provider's stock after selling 96,661 shares during the quarter. Engineers Gate Manager LP owned 0.08% of TriNet Group worth $1,917,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new stake in TriNet Group during the 2nd quarter valued at approximately $175,000. IFP Advisors Inc increased its holdings in TriNet Group by 424.3% during the 2nd quarter. IFP Advisors Inc now owns 1,164 shares of the business services provider's stock worth $58,000 after purchasing an additional 942 shares during the last quarter. Allworth Financial LP raised its position in shares of TriNet Group by 202.1% in the 2nd quarter. Allworth Financial LP now owns 2,329 shares of the business services provider's stock valued at $115,000 after purchasing an additional 1,558 shares in the last quarter. Nykredit A S acquired a new position in shares of TriNet Group in the 2nd quarter valued at approximately $55,000. Finally, Corient Private Wealth LP boosted its stake in shares of TriNet Group by 31.0% during the 2nd quarter. Corient Private Wealth LP now owns 80,708 shares of the business services provider's stock valued at $3,994,000 after buying an additional 19,094 shares during the last quarter. 96.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TriNet Group

In related news, SVP Sidney Majalya sold 775 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $68.53, for a total transaction of $53,110.75. Following the sale, the senior vice president owned 53,212 shares in the company, valued at $3,646,618.36. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Wayne Lowell sold 5,773 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $68.71, for a total transaction of $396,662.83. Following the completion of the transaction, the director directly owned 86,449 shares in the company, valued at $5,939,910.79. This represents a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,016 shares of company stock worth $691,600 in the last quarter. 40.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TNET shares. Weiss Ratings raised shares of TriNet Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 25th. Truist Financial increased their price objective on shares of TriNet Group from $50.00 to $62.00 and gave the company a "hold" rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of TriNet Group from $45.00 to $50.00 and gave the company an "underweight" rating in a research note on Friday, July 31st. Zacks Research downgraded shares of TriNet Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 3rd. Finally, TD Cowen boosted their target price on shares of TriNet Group from $46.00 to $49.00 and gave the stock a "hold" rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $56.80.

TriNet Group Stock Performance

TNET stock opened at $69.25 on Wednesday. The stock's 50 day simple moving average is $65.87 and its 200 day simple moving average is $50.43. TriNet Group, Inc. has a 12-month low of $33.60 and a 12-month high of $73.07. The firm has a market cap of $3.18 billion, a P/E ratio of 18.52 and a beta of 0.94. 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 (NYSE:TNET - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The business services provider reported $1.55 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.62. TriNet Group had a net margin of 3.58% and a return on equity of 227.28%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. TriNet Group has set its FY 2026 guidance at 4.500-5.100 EPS. As a group, equities research analysts predict that TriNet Group, Inc. will post 3.87 EPS for the current year.

TriNet Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Thursday, October 1st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, October 1st. TriNet Group's dividend payout ratio is currently 31.02%.

TriNet Group Company Profile

TriNet Group, Inc is a professional employer organization and human resources services company that helps small and midsize businesses manage employment-related administrative, regulatory and operational responsibilities. Through its co-employment model, TriNet can support clients with payroll administration, employee benefits, human capital management and risk mitigation services.

The company provides cloud-based tools and services covering payroll and tax administration, time and attendance, recruiting, onboarding, performance management and employee engagement.

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