TriNet Group, Inc. $TNET Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in TriNet Group by 1.3%, now owning approximately 320,984 shares valued at $25.4 million after selling 4,275 shares in the first quarter.
• Recent transactions show insider selling, with CTO Jeffery Jon Hayward selling 1,437 shares and Director Paul Edward Chamberlain selling 600 shares, indicating a decrease in their ownership stakes.
• TriNet Group has announced a quarterly dividend of $0.275, translating to an annual yield of 1.5%, and reported earnings growth with $1.15 EPS for the last quarter, beating expectations.

Northern Trust Corp lowered its holdings in TriNet Group, Inc. (NYSE:TNET - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 320,984 shares of the business services provider's stock after selling 4,275 shares during the quarter. Northern Trust Corp owned approximately 0.66% of TriNet Group worth $25,435,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TNET. American Century Companies Inc. raised its holdings in shares of TriNet Group by 183.3% in the 1st quarter. American Century Companies Inc. now owns 858,205 shares of the business services provider's stock valued at $68,004,000 after purchasing an additional 555,258 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of TriNet Group in the 1st quarter valued at about $27,037,000. Nuveen LLC bought a new stake in shares of TriNet Group in the 1st quarter valued at about $18,315,000. Massachusetts Financial Services Co. MA raised its holdings in shares of TriNet Group by 11.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,123,201 shares of the business services provider's stock valued at $168,242,000 after purchasing an additional 225,196 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of TriNet Group in the 4th quarter valued at about $16,992,000. Institutional investors own 96.81% of the company's stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reduced their price target on shares of TriNet Group from $76.00 to $75.00 and set an "underweight" rating for the company in a report on Monday, July 28th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, TriNet Group currently has an average rating of "Reduce" and an average price target of $96.33.

Insider Transactions at TriNet Group

In other news, Director Ralph A. Clark sold 3,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $66.42, for a total value of $199,260.00. Following the sale, the director owned 9,390 shares in the company, valued at $623,683.80. This represents a 24.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Sidney A. Majalya sold 775 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.80, for a total transaction of $53,320.00. Following the completion of the sale, the senior vice president owned 21,708 shares in the company, valued at $1,493,510.40. The trade was a 3.45% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,395 shares of company stock valued at $560,612. 37.10% of the stock is owned by corporate insiders.

TriNet Group Stock Performance

NYSE:TNET traded up $0.10 during trading hours on Thursday, hitting $71.29. 93,958 shares of the company were exchanged, compared to its average volume of 446,439. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 24.50 and a beta of 0.84. TriNet Group, Inc. has a 52-week low of $62.55 and a 52-week high of $100.01. The company has a debt-to-equity ratio of 8.36, a current ratio of 1.10 and a quick ratio of 1.10. The company's 50 day moving average price is $68.31 and its 200-day moving average price is $74.61.

TriNet Group (NYSE:TNET - Get Free Report) last released its earnings results on Friday, July 25th. The business services provider reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.12. The company had revenue of $282.90 million for the quarter, compared to the consensus estimate of $278.93 million. TriNet Group had a net margin of 2.85% and a return on equity of 208.35%. During the same quarter in the previous year, the firm earned $1.53 EPS. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. As a group, research analysts forecast that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Tuesday, July 1st were paid a $0.275 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.5%. TriNet Group's dividend payout ratio is presently 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.