Federated Hermes Inc. Makes New $1.01 Million Investment in 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. bought a new position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,773 shares of the business services provider's stock, valued at approximately $1,012,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC boosted its position in shares of TriNet Group by 6.5% during the 4th quarter. LPL Financial LLC now owns 9,786 shares of the business services provider's stock worth $888,000 after purchasing an additional 597 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of TriNet Group by 26.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 3,706 shares of the business services provider's stock worth $336,000 after purchasing an additional 773 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of TriNet Group by 4.7% during the 4th quarter. Wells Fargo & Company MN now owns 77,518 shares of the business services provider's stock worth $7,036,000 after purchasing an additional 3,456 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of TriNet Group by 3.1% during the 4th quarter. Russell Investments Group Ltd. now owns 78,855 shares of the business services provider's stock worth $7,158,000 after purchasing an additional 2,349 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of TriNet Group during the 4th quarter worth $1,395,000. 96.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

TriNet Group Price Performance

Shares of TriNet Group stock traded down $0.26 on Friday, hitting $63.54. The company's stock had a trading volume of 292,304 shares, compared to its average volume of 578,985. TriNet Group, Inc. has a 52-week low of $62.72 and a 52-week high of $104.06. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 8.36. The firm has a fifty day moving average price of $72.03 and a 200-day moving average price of $77.35. The company has a market capitalization of $3.09 billion, a P/E ratio of 21.83 and a beta of 0.83.

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

TriNet Group Dividend Announcement

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

Insider Buying and Selling

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,437 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $82.04, for a total value of $117,891.48. Following the completion of the transaction, the chief technology officer owned 32,932 shares in the company, valued at $2,701,741.28. This represents a 4.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Sidney A. Majalya sold 500 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $83.14, for a total value of $41,570.00. Following the transaction, the senior vice president owned 23,033 shares of the company's stock, valued at approximately $1,914,963.62. This trade represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,120 shares of company stock valued at $175,291. 38.10% of the stock is owned by company insiders.

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.