TriNet Group, Inc. $TNET Holdings Lowered by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its position in TriNet Group by 93.6%, owning only 4,105 shares after selling 60,529 shares during the first quarter.
• Multiple institutional investors increased their stakes in TriNet Group during the same period, with Massachusetts Financial Services Co. raising its stake by 11.9% and American Century Companies lifting its holdings by 183.3%.
• Analysts have set a new price target for TriNet Group, with JPMorgan Chase & Co. lowering its target from $76.00 to $75.00, currently rating the stock as "underweight."

Hsbc Holdings PLC cut its stake in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 93.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,105 shares of the business services provider's stock after selling 60,529 shares during the period. Hsbc Holdings PLC's holdings in TriNet Group were worth $326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TNET. Northern Trust Corp raised its position in shares of TriNet Group by 8.6% in the 4th quarter. Northern Trust Corp now owns 325,259 shares of the business services provider's stock valued at $29,524,000 after purchasing an additional 25,631 shares in the last quarter. Comerica Bank raised its position in shares of TriNet Group by 14.5% in the 4th quarter. Comerica Bank now owns 22,477 shares of the business services provider's stock valued at $2,040,000 after purchasing an additional 2,843 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of TriNet Group by 239.3% in the 4th quarter. Ameriprise Financial Inc. now owns 22,914 shares of the business services provider's stock valued at $2,080,000 after purchasing an additional 16,160 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of TriNet Group by 42.6% in the 4th quarter. BNP Paribas Financial Markets now owns 60,091 shares of the business services provider's stock valued at $5,454,000 after purchasing an additional 17,945 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of TriNet Group by 4.7% in the 4th quarter. Bank of America Corp DE now owns 184,032 shares of the business services provider's stock valued at $16,705,000 after purchasing an additional 8,299 shares in the last quarter. 96.81% of the stock is owned by institutional investors and hedge funds.

TriNet Group Stock Performance

TNET traded down $1.12 during trading on Tuesday, reaching $68.43. 30,622 shares of the company were exchanged, compared to its average volume of 442,665. The stock has a market cap of $3.32 billion, a P/E ratio of 23.52 and a beta of 0.84. The firm has a 50 day moving average of $68.16 and a 200 day moving average of $74.63. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 8.36. TriNet Group, Inc. has a 52 week low of $62.55 and a 52 week high of $99.78.

TriNet Group (NYSE:TNET - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The business services provider reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.12. TriNet Group had a return on equity of 208.35% and a net margin of 2.85%.The firm had revenue of $282.90 million during the quarter, compared to the consensus estimate of $278.93 million. During the same period in the prior year, the business earned $1.53 EPS. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. On average, sell-side analysts forecast that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Tuesday, July 1st were paid a $0.275 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $1.10 annualized dividend and a dividend yield of 1.6%. TriNet Group's dividend payout ratio is presently 37.80%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Paul Edward Chamberlain sold 600 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $64.18, for a total value of $38,508.00. Following the completion of the sale, the director owned 38,440 shares in the company, valued at $2,467,079.20. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Sidney A. Majalya sold 775 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.80, for a total value of $53,320.00. Following the completion of the sale, the senior vice president owned 21,708 shares of the company's stock, valued at approximately $1,493,510.40. This trade represents a 3.45% 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. Company insiders own 38.10% of the company's stock.

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.