TriNet Group, Inc. $TNET Shares Acquired by Fifth Third Bancorp

Key Points

• Institutional ownership increased: Fifth Third Bancorp raised its TriNet Group stake by 110,752.9% to 18,845 shares, while several other institutions also added positions. Institutional investors collectively own 96.81% of the company.
• Analyst sentiment remains cautious: Recent price targets range from $45 to $62, with the stock carrying an average “Reduce” rating and a consensus target of $55.80.
• Shares and earnings rose: TriNet stock traded at $68.29 after gaining 6.6%, near its 52-week high. Quarterly EPS of $2.48 exceeded estimates by $0.64, although revenue fell 5.1% year over year; the company also maintains a $0.29 quarterly dividend.

Fifth Third Bancorp increased its stake in TriNet Group, Inc. (NYSE:TNET - Free Report) by 110,752.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,845 shares of the business services provider's stock after buying an additional 18,828 shares during the period. Fifth Third Bancorp's holdings in TriNet Group were worth $687,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd increased its stake in TriNet Group by 77.8% during the first quarter. Y Intercept Hong Kong Ltd now owns 59,638 shares of the business services provider's stock valued at $2,173,000 after purchasing an additional 26,099 shares during the last quarter. Strs Ohio lifted its position in shares of TriNet Group by 192.3% in the 1st quarter. Strs Ohio now owns 3,800 shares of the business services provider's stock worth $138,000 after buying an additional 2,500 shares during the last quarter. Cache Advisors LLC acquired a new position in shares of TriNet Group in the 1st quarter valued at about $36,000. SG Americas Securities LLC boosted its holdings in shares of TriNet Group by 302.5% in the 1st quarter. SG Americas Securities LLC now owns 101,013 shares of the business services provider's stock valued at $3,680,000 after buying an additional 75,918 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of TriNet Group by 21.5% during the 4th quarter. Hsbc Holdings PLC now owns 23,130 shares of the business services provider's stock valued at $1,368,000 after buying an additional 4,100 shares during the last quarter. Institutional investors and hedge funds own 96.81% of the company's stock.

Analysts Set New Price Targets

TNET has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on shares of TriNet Group from $43.00 to $45.00 and gave the stock an "underweight" rating in a report on Friday, May 1st. UBS Group lowered their target price on TriNet Group from $62.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, May 5th. Truist Financial increased their price target on TriNet Group from $50.00 to $62.00 and gave the stock a "hold" rating in a research report on Wednesday, July 22nd. TD Cowen raised their price target on TriNet Group from $46.00 to $49.00 and gave the stock a "hold" rating in a report on Friday, June 26th. Finally, Zacks Research lowered TriNet Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 3rd. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $55.80.

TriNet Group Trading Up 6.6%

Shares of TriNet Group stock opened at $68.29 on Wednesday. TriNet Group, Inc. has a fifty-two week low of $33.60 and a fifty-two week high of $72.84. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 10.80. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 20.38 and a beta of 0.99. The business has a fifty day simple moving average of $50.98 and a 200-day simple moving average of $46.75.

TriNet Group (NYSE:TNET - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The business services provider reported $2.48 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.64. TriNet Group had a return on equity of 219.54% and a net margin of 3.22%.The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the company posted $1.99 EPS. The company's revenue was down 5.1% compared to the same quarter last year. TriNet Group has set its FY 2026 guidance at 3.700-4.700 EPS. On average, equities analysts forecast that TriNet Group, Inc. will post 3.55 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Wednesday, July 1st were issued a $0.29 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $1.16 dividend on an annualized basis and a yield of 1.7%. TriNet Group's dividend payout ratio is currently 34.63%.

Insider Activity at TriNet Group

In other TriNet Group news, SVP Anthony Shea Treadway sold 933 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $43.46, for a total transaction of $40,548.18. Following the transaction, the senior vice president owned 67,678 shares in the company, valued at $2,941,285.88. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 40.00% of the company's stock.

TriNet Group Profile

TriNet Group, Inc is a leading professional employer organization (PEO) that offers integrated human capital management solutions to small and medium-size businesses. Through a bundled suite of services, TriNet manages payroll administration, employee benefits, workers' compensation, risk mitigation and federal and state compliance. Its cloud-based platform provides clients with centralized access to HR tools, analytics and streamlined workforce management capabilities.

Founded in 1988 and headquartered in Dublin, California, TriNet has grown to support thousands of organizations across the United States.

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