TriNet Group, Inc. (NYSE:TNET) Stock Holdings Lifted by Bank of America Corp DE

Bank of America Corp DE grew its position in TriNet Group, Inc. (NYSE:TNET - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 184,032 shares of the business services provider's stock after purchasing an additional 8,299 shares during the period. Bank of America Corp DE owned about 0.37% of TriNet Group worth $16,705,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TNET. Wealthfront Advisers LLC bought a new stake in shares of TriNet Group in the 4th quarter valued at approximately $456,581,000. Capital Research Global Investors grew its position in TriNet Group by 98.2% in the fourth quarter. Capital Research Global Investors now owns 2,822,839 shares of the business services provider's stock worth $256,229,000 after acquiring an additional 1,398,573 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in shares of TriNet Group during the 4th quarter worth $35,567,000. Wellington Management Group LLP raised its holdings in shares of TriNet Group by 23.1% during the 4th quarter. Wellington Management Group LLP now owns 1,626,902 shares of the business services provider's stock valued at $147,674,000 after purchasing an additional 305,165 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of TriNet Group by 18.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,898,005 shares of the business services provider's stock valued at $172,282,000 after purchasing an additional 289,071 shares during the last quarter. 96.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,364 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $94,607.04. Following the transaction, the chief technology officer now owns 19,867 shares of the company's stock, valued at $1,377,975.12. The trade was a 6.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Edward Chamberlain sold 600 shares of TriNet Group stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total value of $41,616.00. Following the transaction, the director now owns 36,991 shares of the company's stock, valued at $2,565,695.76. The trade was a 1.60% decrease in their position. The disclosure for this sale can be found here. Company insiders own 38.10% of the company's stock.

Wall Street Analyst Weigh In

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

TriNet Group Price Performance

NYSE TNET opened at $85.37 on Wednesday. TriNet Group, Inc. has a twelve month low of $65.43 and a twelve month high of $116.26. The company has a debt-to-equity ratio of 13.16, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $4.13 billion, a PE ratio of 24.96 and a beta of 0.91. The stock has a 50-day simple moving average of $79.03 and a 200 day simple moving average of $84.80.

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

TriNet Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were paid a $0.275 dividend. This is a boost from TriNet Group's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.29%. TriNet Group's dividend payout ratio is currently 32.84%.

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.

Want to see what other hedge funds are holding TNET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TriNet Group, Inc. (NYSE:TNET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.