Hsbc Holdings PLC Takes $910,000 Position in TriNet Group, Inc. $TNET

Key Points

• HSBC acquired a new $910,000 stake in TriNet Group during the second quarter, joining other major institutions such as BlackRock and Boston Partners. Institutional investors collectively own 96.81% of the company.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $56.80. TriNet shares opened at $66.74 after recently trading down 5.1%.
• TriNet exceeded quarterly earnings expectations, reporting $1.55 EPS versus a $0.93 estimate, while revenue matched forecasts at $1.18 billion. The company also pays a quarterly dividend of $0.29, equivalent to a 1.7% yield.

Hsbc Holdings PLC acquired a new position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,333 shares of the business services provider's stock, valued at approximately $910,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of TriNet Group in the 2nd quarter valued at about $128,161,000. Boston Partners bought a new position in TriNet Group during the 3rd quarter worth approximately $97,712,000. Northwestern Mutual Wealth Management Co. grew its holdings in TriNet Group by 5,911,158.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 709,351 shares of the business services provider's stock valued at $41,944,000 after purchasing an additional 709,339 shares during the period. Norges Bank acquired a new position in TriNet Group during the fourth quarter valued at approximately $28,266,000. Finally, Millennium Management LLC increased its stake in TriNet Group by 1,047.5% in the fourth quarter. Millennium Management LLC now owns 468,030 shares of the business services provider's stock valued at $27,675,000 after purchasing an additional 427,242 shares in the last quarter. Institutional investors own 96.81% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on TNET shares. Weiss Ratings upgraded shares of TriNet Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 25th. UBS Group lowered their price objective on shares of TriNet Group from $62.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, May 5th. JPMorgan Chase & Co. lifted their target price on TriNet Group from $45.00 to $50.00 and gave the stock an "underweight" rating in a report on Friday, July 31st. Zacks Research cut TriNet Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 3rd. Finally, TD Cowen increased their price target on TriNet Group from $46.00 to $49.00 and gave the stock a "hold" rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $56.80.

TriNet Group Trading Down 5.1%

TNET opened at $66.74 on Wednesday. The stock has a market capitalization of $3.06 billion, a P/E ratio of 17.84 and a beta of 0.94. TriNet Group, Inc. has a 12 month low of $33.60 and a 12 month high of $73.07. The firm's fifty day simple moving average is $62.69 and its 200 day simple moving average is $48.40. 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 results on Thursday, July 30th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.62. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. TriNet Group had a return on equity of 227.28% and a net margin of 3.58%.During the same quarter last year, the business posted $1.15 EPS. TriNet Group has set its FY 2026 guidance at 4.500-5.100 EPS. As a group, research analysts anticipate that TriNet Group, Inc. will post 3.87 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 1st were paid a $0.29 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $1.16 annualized dividend and a yield of 1.7%. TriNet Group's payout ratio is presently 31.02%.

Insider Transactions at TriNet Group

In other news, Director Paul Edward Chamberlain sold 2,400 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $69.70, for a total value of $167,280.00. Following the sale, the director owned 40,175 shares of the company's stock, valued at $2,800,197.50. The trade was a 5.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wayne B. Lowell sold 5,773 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $68.71, for a total transaction of $396,662.83. Following the transaction, the director owned 86,449 shares of the company's stock, valued at $5,939,910.79. The trade was a 6.26% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 10,016 shares of company stock worth $691,600. Insiders own 40.00% of the company's stock.

About TriNet Group

TriNet Group, Inc is a leading professional employer organization (PEO) that offers integrated human capital management solutions to small and medium-size businesses. Through a bundled suite of services, TriNet manages payroll administration, employee benefits, workers' compensation, risk mitigation and federal and state compliance. Its cloud-based platform provides clients with centralized access to HR tools, analytics and streamlined workforce management capabilities.

Founded in 1988 and headquartered in Dublin, California, TriNet has grown to support thousands of organizations across the United States.

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