Leuthold Group LLC Buys New Position in TriNet Group, Inc. $TNET

Key Points

• Leuthold Group initiated a position in TriNet Group, buying 65,916 shares worth about $4.12 million, or roughly 0.14% of the company. Institutional investors collectively own 96.81% of TriNet’s shares.
• TriNet reported quarterly EPS of $0.94, beating the $0.60 consensus estimate, while revenue of $1.18 billion matched expectations and fell 4.6% year over year.
• Analysts have a consensus Hold rating and an average price target of $60.83. TriNet also declared a quarterly dividend of $0.29 per share, equivalent to a 1.8% yield.

Leuthold Group LLC purchased a new position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 65,916 shares of the business services provider's stock, valued at approximately $4,122,000. Leuthold Group LLC owned approximately 0.14% of TriNet Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pictet Asset Management Holding SA boosted its holdings in TriNet Group by 5.0% during the 3rd quarter. Pictet Asset Management Holding SA now owns 4,628 shares of the business services provider's stock worth $289,000 after acquiring an additional 221 shares during the last quarter. Fortitude Family Office LLC grew its stake in shares of TriNet Group by 473.3% in the 3rd quarter. Fortitude Family Office LLC now owns 602 shares of the business services provider's stock worth $38,000 after acquiring an additional 497 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of TriNet Group by 63.6% in the second quarter. GAMMA Investing LLC now owns 1,350 shares of the business services provider's stock valued at $67,000 after purchasing an additional 525 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of TriNet Group by 19.6% in the first quarter. PNC Financial Services Group Inc. now owns 4,113 shares of the business services provider's stock valued at $150,000 after purchasing an additional 675 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of TriNet Group by 77.1% in the third quarter. Parallel Advisors LLC now owns 1,601 shares of the business services provider's stock valued at $100,000 after purchasing an additional 697 shares during the last quarter. 96.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of TriNet Group from $45.00 to $50.00 and gave the stock an "underweight" rating in a report on Friday, July 31st. Truist Financial increased their price objective on shares of TriNet Group from $50.00 to $62.00 and gave the company a "hold" rating in a research note on Wednesday, July 22nd. Needham & Company LLC set a $65.00 target price on shares of TriNet Group in a research report on Friday, October 30th. Weiss Ratings upgraded TriNet Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 9th. Finally, TD Cowen reduced their target price on TriNet Group from $66.00 to $65.00 and set a "hold" rating for the company in a report on Friday, October 30th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $60.83.

TriNet Group Trading Down 3.3%

NYSE TNET opened at $64.46 on Tuesday. The business's fifty day moving average is $67.23 and its 200-day moving average is $53.71. The company has a debt-to-equity ratio of 6.74, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 17.47 and a beta of 0.98. TriNet Group, Inc. has a one year low of $33.60 and a one year high of $76.59.

TriNet Group (NYSE:TNET - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.34. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. TriNet Group had a net margin of 3.56% and a return on equity of 202.90%. The firm's quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.11 earnings per share. Equities research analysts predict that TriNet Group, Inc. will post 3.95 EPS for the current year.

TriNet Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Thursday, October 1st were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, October 1st. TriNet Group's dividend payout ratio is currently 31.44%.

Insider Activity

In related news, SVP Anthony Shea Treadway sold 1,068 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $69.80, for a total value of $74,546.40. Following the sale, the senior vice president directly owned 65,506 shares in the company, valued at approximately $4,572,318.80. The trade was a 1.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,400 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $69.70, for a total transaction of $167,280.00. Following the sale, the director directly owned 40,175 shares in the company, valued at approximately $2,800,197.50. This trade represents a 5.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,243 shares of company stock valued at $294,937 in the last 90 days. Insiders own 40.00% of the company's stock.

TriNet Group Company Profile

TriNet Group, Inc provides human resources solutions to small and midsize businesses in the United States. Through a professional employer organization (PEO) model, the company helps clients manage employment-related administration and access services that may otherwise be difficult to provide in-house.

Its offerings include payroll processing and tax administration, employee benefits, workers' compensation and risk management, and support with employment-related compliance. TriNet also provides HR technology and guidance intended to help businesses manage employee information and workplace processes.

Founded in 1988, TriNet serves businesses across a range of industries.

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