Russell Investments Group Ltd. Acquires 6,324 Shares of TriNet Group, Inc. $TNET

Key Points

• Russell Investments Group Ltd. increased its stake in TriNet Group by 8.0%, holding 85,179 shares worth approximately $6.75 million after acquiring an additional 6,324 shares in the first quarter.
• TriNet Group's quarterly earnings surpassed expectations, reporting an EPS of $1.15 against a consensus estimate of $1.03, alongside revenues of $282.90 million.
• JPMorgan Chase & Co. has downgraded TriNet Group's price target from $76.00 to $75.00, maintaining an "underweight" rating, as analysts forecast a consensus price target of $96.33 for the stock.

Russell Investments Group Ltd. grew its stake in TriNet Group, Inc. (NYSE:TNET - Free Report) by 8.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 85,179 shares of the business services provider's stock after purchasing an additional 6,324 shares during the quarter. Russell Investments Group Ltd. owned about 0.18% of TriNet Group worth $6,750,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. LRI Investments LLC raised its stake in TriNet Group by 643.8% during the 4th quarter. LRI Investments LLC now owns 662 shares of the business services provider's stock worth $60,000 after buying an additional 573 shares during the period. PNC Financial Services Group Inc. raised its stake in TriNet Group by 58.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,291 shares of the business services provider's stock worth $182,000 after buying an additional 845 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in TriNet Group during the 1st quarter worth $206,000. Xponance Inc. raised its stake in TriNet Group by 6.4% during the 1st quarter. Xponance Inc. now owns 2,613 shares of the business services provider's stock worth $207,000 after buying an additional 157 shares during the period. Finally, AE Wealth Management LLC acquired a new stake in TriNet Group during the 1st quarter worth $208,000. Institutional investors and hedge funds own 96.81% of the company's stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. dropped their price objective on TriNet Group from $76.00 to $75.00 and set an "underweight" rating on the stock in a research note on Monday, July 28th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $96.33.

TriNet Group Stock Up 1.5%

Shares of TNET traded up $1.02 during midday trading on Tuesday, hitting $69.59. The stock had a trading volume of 493,034 shares, compared to its average volume of 489,146. The company has a 50 day simple moving average of $68.66 and a two-hundred day simple moving average of $75.16. TriNet Group, Inc. has a twelve month low of $62.55 and a twelve month high of $104.06. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 23.91 and a beta of 0.83. The company has a debt-to-equity ratio of 8.36, a current ratio of 1.10 and a quick ratio of 1.10.

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

TriNet Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Tuesday, July 1st were issued a $0.275 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $1.10 annualized dividend and a dividend yield of 1.6%. TriNet Group's dividend payout ratio (DPR) is presently 37.80%.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 600 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $64.18, for a total value of $38,508.00. Following the completion of the transaction, the director owned 38,440 shares in the company, valued at $2,467,079.20. This trade represents a 1.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Anthony Shea Treadway sold 2,583 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $66.07, for a total value of $170,658.81. Following the completion of the transaction, the senior vice president owned 29,437 shares of the company's stock, valued at $1,944,902.59. The trade was a 8.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,183 shares of company stock worth $408,427 in the last quarter. Corporate insiders own 37.10% of the company's stock.

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.