Legal & General Group Plc Makes New Investment in TriNet Group, Inc. $TNET

Key Points

• Legal & General Group initiated a TriNet Group position of 24,849 shares worth approximately $1.23 million, while institutional investors collectively own 96.81% of the company.
• TriNet reported quarterly EPS of $1.55, beating estimates of $0.93, on revenue of $1.18 billion. Analysts remain cautious, with an average “Hold” rating and a $56.80 price target.
• TNET shares opened at $69.00, near their 52-week high of $73.07. Insiders sold 10,016 shares worth about $691,600 over the past 90 days, while the company maintains a quarterly dividend of $0.29 per share.

Legal & General Group Plc purchased a new position in TriNet Group, Inc. (NYSE:TNET - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,849 shares of the business services provider's stock, valued at approximately $1,230,000. Legal & General Group Plc owned approximately 0.05% of TriNet Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of TriNet Group in the 2nd quarter worth approximately $128,161,000. Boston Partners bought a new stake in TriNet Group during the third quarter worth approximately $97,712,000. Northwestern Mutual Wealth Management Co. raised 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 worth $41,944,000 after purchasing an additional 709,339 shares in the last quarter. Norges Bank acquired a new stake in TriNet Group in the fourth quarter worth approximately $28,266,000. Finally, Millennium Management LLC lifted its position 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 worth $27,675,000 after purchasing an additional 427,242 shares during the period. 96.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TNET. JPMorgan Chase & Co. boosted their price objective on TriNet Group from $45.00 to $50.00 and gave the stock an "underweight" rating in a research note on Friday, July 31st. TD Cowen boosted their price target on shares of TriNet Group from $46.00 to $49.00 and gave the stock a "hold" rating in a research report on Friday, June 26th. Weiss Ratings raised shares of TriNet Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 25th. Truist Financial lifted their price objective on shares of TriNet Group from $50.00 to $62.00 and gave the stock a "hold" rating in a research note on Wednesday, July 22nd. Finally, Zacks Research downgraded shares of TriNet Group from a "strong-buy" rating to a "hold" rating in a report on Friday, July 3rd. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $56.80.

Insider Activity

In related news, Director Paul Chamberlain sold 2,400 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 40,175 shares of the company's stock, valued at approximately $2,800,197.50. This trade represents a 5.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Sidney A. Majalya sold 775 shares of the business's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $68.53, for a total transaction of $53,110.75. Following the sale, the senior vice president directly owned 53,212 shares in the company, valued at approximately $3,646,618.36. This trade represents a 1.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,016 shares of company stock valued at $691,600 over the last ninety days. Corporate insiders own 40.00% of the company's stock.

TriNet Group Stock Performance

TNET opened at $69.00 on Monday. The firm has a market cap of $3.17 billion, a PE ratio of 18.45 and a beta of 0.94. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 7.17. The business has a fifty day simple moving average of $63.93 and a 200-day simple moving average of $49.01. TriNet Group, Inc. has a fifty-two week low of $33.60 and a fifty-two week high of $73.07.

TriNet Group (NYSE:TNET - Get Free Report) last announced its earnings results on Thursday, July 30th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.62. TriNet Group had a return on equity of 227.28% and a net margin of 3.58%.The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the firm earned $1.15 earnings per share. TriNet Group has set its FY 2026 guidance at 4.500-5.100 EPS. As a group, equities analysts predict that TriNet Group, Inc. will post 3.87 EPS for the current fiscal year.

TriNet Group Announces Dividend

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

TriNet Group Profile

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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