Federated Hermes Inc. Purchases Shares of 12,773 TriNet Group, Inc. (NYSE:TNET)

Key Points

• Federated Hermes Inc. has invested approximately $1.01 million in TriNet Group, acquiring 12,773 shares as disclosed in its recent SEC filing.
• Insider transactions include the sale of 2,120 shares valued at $175,291 by company insiders in the last three months, with insiders now holding 38.10% of the company's stock.
• JPMorgan Chase & Co. has downgraded TriNet Group's stock rating to "underweight" with a price target decrease from $76.00 to $75.00.

Federated Hermes Inc. acquired a new position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,773 shares of the business services provider's stock, valued at approximately $1,012,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. LRI Investments LLC increased its position in TriNet Group by 643.8% in the fourth quarter. LRI Investments LLC now owns 662 shares of the business services provider's stock worth $60,000 after purchasing an additional 573 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of TriNet Group in the 1st quarter valued at about $206,000. Xponance Inc. boosted its stake in shares of TriNet Group by 6.4% in the 1st 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 last quarter. AE Wealth Management LLC acquired a new stake in shares of TriNet Group during the 1st quarter worth approximately $208,000. Finally, Mariner LLC raised its stake in shares of TriNet Group by 13.7% during the fourth quarter. Mariner LLC now owns 2,763 shares of the business services provider's stock worth $251,000 after buying an additional 333 shares during the last quarter. Institutional investors and hedge funds own 96.81% of the company's stock.

Insider Buying and Selling at TriNet Group

In other news, SVP Sidney A. Majalya sold 500 shares of TriNet Group stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $83.14, for a total transaction of $41,570.00. Following the transaction, the senior vice president directly owned 23,033 shares of the company's stock, valued at $1,914,963.62. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,437 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $82.04, for a total transaction of $117,891.48. Following the completion of the sale, the chief technology officer owned 32,932 shares of the company's stock, valued at approximately $2,701,741.28. This represents a 4.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,120 shares of company stock worth $175,291. Company insiders own 38.10% of the company's stock.

TriNet Group Trading Up 0.6%

Shares of TriNet Group stock traded up $0.39 during trading on Thursday, reaching $63.82. 494,036 shares of the company were exchanged, compared to its average volume of 574,004. The business has a 50-day moving average price of $72.43 and a 200-day moving average price of $77.68. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 21.93 and a beta of 0.83. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 8.36. TriNet Group, Inc. has a twelve month low of $62.72 and a twelve month high of $104.06.

TriNet Group (NYSE:TNET - Get Free Report) last posted its earnings results on Friday, July 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.12. The company had revenue of $282.90 million during the quarter, compared to analyst estimates of $278.93 million. TriNet Group had a return on equity of 208.35% and a net margin of 2.85%. During the same period in the previous year, the company earned $1.53 EPS. Sell-side analysts anticipate that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Tuesday, July 1st were issued a $0.275 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $1.10 annualized dividend and a yield of 1.7%. TriNet Group's dividend payout ratio (DPR) is 37.80%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reduced their price objective on shares of TriNet Group from $76.00 to $75.00 and set an "underweight" rating on the stock in a research note on Monday, July 28th.

TriNet Group 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.