Bank of America Corp DE Acquires 8,299 Shares of TriNet Group, Inc. (NYSE:TNET)

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

Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in TriNet Group by 45.5% in the 4th quarter. IFP Advisors Inc now owns 767 shares of the business services provider's stock valued at $71,000 after buying an additional 240 shares during the last quarter. Avion Wealth grew its holdings in TriNet Group by 14.9% in the 4th quarter. Avion Wealth now owns 1,081 shares of the business services provider's stock valued at $98,000 after buying an additional 140 shares during the last quarter. KBC Group NV grew its holdings in TriNet Group by 43.7% in the 4th quarter. KBC Group NV now owns 1,365 shares of the business services provider's stock valued at $124,000 after buying an additional 415 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in TriNet Group by 118.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,446 shares of the business services provider's stock valued at $131,000 after buying an additional 785 shares during the last quarter. Finally, Xponance Inc. grew its holdings in TriNet Group by 17.8% in the 4th quarter. Xponance Inc. now owns 2,456 shares of the business services provider's stock valued at $223,000 after buying an additional 371 shares during the last quarter. Institutional investors own 96.81% of the company's stock.

TriNet Group Price Performance

Shares of TriNet Group stock traded down $0.58 during midday trading on Monday, hitting $81.24. 225,714 shares of the company were exchanged, compared to its average volume of 384,381. The company has a debt-to-equity ratio of 13.16, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $3.93 billion, a P/E ratio of 23.76 and a beta of 0.91. TriNet Group, Inc. has a 52 week low of $65.43 and a 52 week high of $116.26. The firm has a 50 day simple moving average of $79.34 and a 200-day simple moving average of $84.57.

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

TriNet Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were given a $0.275 dividend. This is an increase from TriNet Group's previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, April 1st. This represents a $1.10 annualized dividend and a yield of 1.35%. TriNet Group's payout ratio is presently 32.84%.

Analyst Ratings Changes

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

Insider Buying and Selling at TriNet Group

In related news, 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 completion of the sale, the director now directly owns 36,991 shares in the company, valued at $2,565,695.76. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeffery Jon Hayward sold 1,364 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 $94,607.04. Following the completion of the sale, the chief technology officer now owns 19,867 shares of the company's stock, valued at approximately $1,377,975.12. The trade was a 6.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,647 shares of company stock worth $193,623. 38.10% of the stock is currently owned by 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.