IFG Advisory LLC Has $2.57 Million Stock Holdings in TriNet Group, Inc. (NYSE:TNET)

Key Points

• IFG Advisory LLC has reduced its stake in TriNet Group, Inc. by 20.9%, now holding approximately $2.57 million in stock.
• JPMorgan Chase & Co. downgraded TriNet Group's stock rating to “underweight” and lowered the price target from $76.00 to $75.00.
• TriNet Group announced a quarterly dividend of $0.275 per share, with an annualized dividend yield of 1.7%.

IFG Advisory LLC trimmed its holdings in TriNet Group, Inc. (NYSE:TNET - Free Report) by 20.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,488 shares of the business services provider's stock after selling 8,569 shares during the period. IFG Advisory LLC owned about 0.07% of TriNet Group worth $2,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in TNET. LPL Financial LLC lifted its position in shares of TriNet Group by 6.5% during the fourth quarter. LPL Financial LLC now owns 9,786 shares of the business services provider's stock valued at $888,000 after purchasing an additional 597 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of TriNet Group by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 2,992,008 shares of the business services provider's stock valued at $271,585,000 after purchasing an additional 36,216 shares in the last quarter. Norges Bank bought a new position in shares of TriNet Group during the fourth quarter valued at about $13,660,000. Orion Portfolio Solutions LLC lifted its position in shares of TriNet Group by 26.4% during the fourth quarter. Orion Portfolio Solutions LLC now owns 3,706 shares of the business services provider's stock valued at $336,000 after purchasing an additional 773 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of TriNet Group by 495.2% during the fourth quarter. Alliancebernstein L.P. now owns 214,217 shares of the business services provider's stock valued at $19,444,000 after purchasing an additional 178,228 shares in the last quarter. 96.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. dropped their price target 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.

Insider Activity at TriNet Group

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

TriNet Group Stock Performance

NYSE TNET opened at $63.37 on Friday. TriNet Group, Inc. has a 52-week low of $63.23 and a 52-week high of $104.06. The company has a 50-day simple moving average of $73.90 and a 200 day simple moving average of $78.35. The company has a debt-to-equity ratio of 8.36, a quick ratio of 1.08 and a current ratio of 1.10. The company has a market capitalization of $3.08 billion, a PE ratio of 21.78 and a beta of 0.83.

TriNet Group (NYSE:TNET - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $278.93 million. During the same quarter last year, the company posted $1.53 earnings per share. On average, research analysts predict that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Tuesday, July 1st were given 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 1.7%. TriNet Group's payout ratio is 37.80%.

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.

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