Hsbc Holdings PLC Sells 60,529 Shares of TriNet Group, Inc. $TNET

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 trimmed its holdings in TriNet Group, Inc. (NYSE:TNET - Free Report) by 93.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,105 shares of the business services provider's stock after selling 60,529 shares during the quarter. Hsbc Holdings PLC's holdings in TriNet Group were worth $326,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Quantbot Technologies LP grew its holdings in TriNet Group by 192.3% in the 1st quarter. Quantbot Technologies LP now owns 61,918 shares of the business services provider's stock worth $4,906,000 after buying an additional 40,738 shares in the last quarter. Wellington Management Group LLP grew its holdings in TriNet Group by 24.3% during the first quarter. Wellington Management Group LLP now owns 2,021,749 shares of the business services provider's stock worth $160,203,000 after acquiring an additional 394,847 shares during the period. Algert Global LLC acquired a new position in TriNet Group during the first quarter worth about $3,101,000. American Century Companies Inc. lifted its position in shares of TriNet Group by 183.3% during the 1st quarter. American Century Companies Inc. now owns 858,205 shares of the business services provider's stock valued at $68,004,000 after acquiring an additional 555,258 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of TriNet Group during the 1st quarter valued at $1,085,000. 96.81% of the stock is owned by institutional investors.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, SVP Anthony Shea Treadway sold 2,583 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $66.07, for a total value of $170,658.81. Following the sale, the senior vice president directly owned 29,437 shares in the company, valued at $1,944,902.59. This represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Sidney A. Majalya sold 775 shares of TriNet Group 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 completion of the transaction, the senior vice president owned 21,708 shares of the company's stock, valued at $1,493,510.40. This trade represents a 3.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,395 shares of company stock worth $560,612 over the last three months. 38.10% of the stock is currently owned by insiders.

TriNet Group Stock Performance

NYSE TNET traded down $1.03 during trading on Friday, hitting $70.56. The company's stock had a trading volume of 241,088 shares, compared to its average volume of 419,979. The firm has a 50 day moving average price of $68.24 and a 200 day moving average price of $74.57. TriNet Group, Inc. has a 52 week low of $62.55 and a 52 week high of $99.78. 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 market cap of $3.43 billion, a P/E ratio of 24.25 and a beta of 0.84.

TriNet Group (NYSE:TNET - Get Free Report) last released 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 business had revenue of $282.90 million during the quarter, compared to analysts' expectations of $278.93 million. During the same quarter last year, the company earned $1.53 earnings per share. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. Equities research analysts forecast that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Announces Dividend

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

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. cut their price objective on TriNet Group from $76.00 to $75.00 and set an "underweight" rating for the company in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, TriNet Group currently has a consensus rating of "Reduce" and a consensus price target of $96.33.

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.