Millennium Management LLC Sells 222,657 Shares of TriNet Group, Inc. (NYSE:TNET)

Millennium Management LLC lowered its holdings in TriNet Group, Inc. (NYSE:TNET - Free Report) by 98.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,392 shares of the business services provider's stock after selling 222,657 shares during the period. Millennium Management LLC's holdings in TriNet Group were worth $308,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Avion Wealth lifted its holdings in shares of TriNet Group by 14.9% during the 4th quarter. Avion Wealth now owns 1,081 shares of the business services provider's stock worth $98,000 after acquiring an additional 140 shares during the period. Summit Investment Advisors Inc. lifted its stake in TriNet Group by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,344 shares of the business services provider's stock worth $304,000 after purchasing an additional 149 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of TriNet Group by 45.5% in the 4th quarter. IFP Advisors Inc now owns 767 shares of the business services provider's stock valued at $71,000 after purchasing an additional 240 shares in the last quarter. Mariner LLC increased its stake in shares of TriNet Group by 13.7% in the 4th quarter. Mariner LLC now owns 2,763 shares of the business services provider's stock valued at $251,000 after purchasing an additional 333 shares during the last quarter. Finally, Xponance Inc. raised its holdings in shares of TriNet Group by 17.8% during the 4th quarter. Xponance Inc. now owns 2,456 shares of the business services provider's stock worth $223,000 after buying an additional 371 shares in the last quarter. Institutional investors and hedge funds own 96.81% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on TNET shares. Needham & Company LLC reiterated a "hold" rating on shares of TriNet Group in a research report on Thursday, March 13th. JPMorgan Chase & Co. lifted their price target on shares of TriNet Group from $75.00 to $76.00 and gave the company an "underweight" rating in a report on Monday, April 28th. Finally, TD Cowen cut shares of TriNet Group from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $104.00 to $74.00 in a research report on Tuesday, February 18th.

Insiders Place Their Bets

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,437 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $82.04, for a total transaction of $117,891.48. Following the sale, the chief technology officer now owns 32,932 shares of the company's stock, valued at approximately $2,701,741.28. This represents a 4.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Sidney A. Majalya sold 500 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $83.14, for a total value of $41,570.00. Following the completion of the transaction, the senior vice president now directly owns 23,033 shares in the company, valued at $1,914,963.62. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,120 shares of company stock valued at $175,291. 37.10% of the stock is currently owned by company insiders.

TriNet Group Price Performance

TNET traded down $0.43 on Thursday, reaching $78.40. The stock had a trading volume of 41,320 shares, compared to its average volume of 377,810. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 22.92 and a beta of 0.90. TriNet Group, Inc. has a fifty-two week low of $65.43 and a fifty-two week high of $116.26. The firm has a 50-day moving average of $80.23 and a 200-day moving average of $83.76.

TriNet Group (NYSE:TNET - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The business services provider reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.32. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $319.36 million. During the same quarter in the prior year, the firm posted $2.18 earnings per share. As a group, sell-side analysts anticipate that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Tuesday, April 1st were given a dividend of $0.275 per share. This is a positive change from TriNet Group's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 1.40%. The ex-dividend date was Tuesday, April 1st. TriNet Group's dividend payout ratio (DPR) is currently 32.84%.

TriNet Group 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.