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

Millennium Management LLC cut its position in TriNet Group, Inc. (NYSE:TNET - Free Report) by 98.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,392 shares of the business services provider's stock after selling 222,657 shares during the quarter. Millennium Management LLC's holdings in TriNet Group were worth $308,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Avion Wealth increased 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 last quarter. Summit Investment Advisors Inc. boosted its position 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 period. IFP Advisors Inc increased its holdings in shares of TriNet Group by 45.5% in the fourth 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 during the last quarter. Mariner LLC raised its position in shares of TriNet Group by 13.7% in the fourth 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 period. Finally, Xponance Inc. lifted its stake 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 during the last quarter. 96.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, CTO Jeffery Jon Hayward sold 1,437 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $82.04, for a total value of $117,891.48. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sidney A. Majalya sold 500 shares of the firm'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 now owns 23,033 shares in the company, valued at approximately $1,914,963.62. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,120 shares of company stock worth $175,291. Corporate insiders own 37.10% of the company's stock.

TriNet Group Stock Performance

Shares of TriNet Group stock traded down $2.94 during trading on Friday, reaching $75.82. The company's stock had a trading volume of 294,522 shares, compared to its average volume of 379,726. TriNet Group, Inc. has a 52 week low of $65.43 and a 52 week high of $116.26. The firm has a market cap of $3.67 billion, a PE ratio of 22.17 and a beta of 0.90. The business's 50-day moving average price is $80.40 and its 200-day moving average price is $83.54. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 13.16.

TriNet Group (NYSE:TNET - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $319.36 million. During the same period in the previous year, the company posted $2.18 earnings per share. Equities analysts forecast that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, July 1st. TriNet Group's dividend payout ratio (DPR) is presently 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.