Bayforest Capital Ltd Acquires 10,980 Shares of TriNet Group, Inc. (NYSE:TNET)

Bayforest Capital Ltd increased its holdings in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 543.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,001 shares of the business services provider's stock after buying an additional 10,980 shares during the period. TriNet Group comprises approximately 0.5% of Bayforest Capital Ltd's portfolio, making the stock its 26th largest position. Bayforest Capital Ltd's holdings in TriNet Group were worth $1,030,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TNET. Summit Investment Advisors Inc. lifted its position in shares of TriNet Group by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,344 shares of the business services provider's stock valued at $304,000 after acquiring an additional 149 shares during the period. Xponance Inc. lifted its position in shares of TriNet Group by 6.4% during the 1st quarter. Xponance Inc. now owns 2,613 shares of the business services provider's stock valued at $207,000 after acquiring an additional 157 shares during the period. Mariner LLC lifted its position in shares of TriNet Group by 13.7% during the 4th quarter. Mariner LLC now owns 2,763 shares of the business services provider's stock valued at $251,000 after acquiring an additional 333 shares during the period. Farther Finance Advisors LLC lifted its position in shares of TriNet Group by 11.4% during the 1st quarter. Farther Finance Advisors LLC now owns 4,165 shares of the business services provider's stock valued at $331,000 after acquiring an additional 427 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of TriNet Group by 2.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,190 shares of the business services provider's stock valued at $1,651,000 after acquiring an additional 502 shares during the period. 96.81% of the stock is currently owned by institutional investors and hedge funds.

TriNet Group Stock Down 6.5%

TNET stock traded down $4.44 during midday trading on Friday, reaching $63.37. 809,231 shares of the company's stock traded hands, compared to its average volume of 541,420. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 21.78 and a beta of 0.83. The firm's fifty day moving average price is $73.90 and its 200-day moving average price is $78.45. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 8.36. TriNet Group, Inc. has a 52 week low of $63.23 and a 52 week high of $104.06.

TriNet Group (NYSE:TNET - Get Free Report) last posted its earnings results on Friday, July 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.12. TriNet Group had a net margin of 2.85% and a return on equity of 208.35%. The firm had revenue of $282.90 million during the quarter, compared to analyst estimates of $278.93 million. During the same quarter in the prior year, the business posted $1.53 EPS. As a group, sell-side analysts forecast that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Tuesday, July 1st were given a dividend of $0.275 per share. The ex-dividend date was Tuesday, July 1st. This represents a $1.10 annualized dividend and a yield of 1.7%. TriNet Group's dividend payout ratio is presently 37.80%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their target price on shares of TriNet Group from $76.00 to $75.00 and set an "underweight" rating on the stock in a research report on Monday, July 28th.

Insider Activity

In related news, SVP Sidney A. Majalya sold 500 shares of the stock in a transaction dated 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 transaction, the senior vice president owned 23,033 shares in the company, valued at approximately $1,914,963.62. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $117,891.48. Following the transaction, the chief technology officer owned 32,932 shares of the company's stock, valued at approximately $2,701,741.28. The trade was a 4.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,120 shares of company stock valued at $175,291. 38.10% of the stock is owned by company insiders.

About TriNet Group

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.