New Vernon Capital Holdings II LLC Acquires 215,148 Shares of TriNet Group, Inc. $TNET

Key Points

• New Vernon Capital Holdings II LLC significantly increased its stake in TriNet Group by 9,748.4%, acquiring a total of 217,355 shares worth approximately $17.2 million.
• JPMorgan Chase & Co. has downgraded TriNet Group's price target from $76.00 to $75.00, assigning an "underweight" rating while the average consensus price target stands at $96.33.
• TriNet Group recently reported a quarterly earnings per share (EPS) of $1.15, exceeding expectations, and declared a quarterly dividend of $0.275, reflecting a 1.5% yield.

New Vernon Capital Holdings II LLC lifted its holdings in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 9,748.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 217,355 shares of the business services provider's stock after buying an additional 215,148 shares during the period. New Vernon Capital Holdings II LLC owned about 0.45% of TriNet Group worth $17,223,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Millennium Management LLC boosted its stake in shares of TriNet Group by 3,995.7% during the 1st quarter. Millennium Management LLC now owns 138,926 shares of the business services provider's stock worth $11,008,000 after buying an additional 135,534 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in TriNet Group by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,009 shares of the business services provider's stock valued at $1,506,000 after purchasing an additional 819 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in TriNet Group by 12.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 518,828 shares of the business services provider's stock valued at $41,112,000 after purchasing an additional 57,810 shares during the last quarter. Cinctive Capital Management LP acquired a new stake in TriNet Group in the 1st quarter valued at about $381,000. Finally, PDT Partners LLC acquired a new stake in TriNet Group in the 1st quarter valued at about $2,202,000. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

TriNet Group Trading Down 0.3%

Shares of TriNet Group stock traded down $0.23 during trading on Wednesday, hitting $68.03. The company's stock had a trading volume of 115,648 shares, compared to its average volume of 442,138. 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, Inc. has a 52 week low of $62.55 and a 52 week high of $99.78. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 23.38 and a beta of 0.84. The stock has a 50-day moving average price of $68.02 and a two-hundred day moving average price of $74.58.

TriNet Group (NYSE:TNET - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The business services provider reported $1.15 earnings per share 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 company had revenue of $282.90 million for the quarter, compared to analysts' expectations of $278.93 million. During the same quarter in the previous year, the firm posted $1.53 earnings per share. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. Equities research analysts anticipate that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 28th. Investors 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 yield of 1.6%. TriNet Group's payout ratio is presently 37.80%.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 600 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $64.18, for a total value of $38,508.00. Following the transaction, the director owned 38,440 shares in the company, valued at $2,467,079.20. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Anthony Shea Treadway sold 2,583 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $66.07, for a total transaction of $170,658.81. Following the completion of the transaction, the senior vice president owned 29,437 shares in the company, valued at approximately $1,944,902.59. The trade was a 8.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,395 shares of company stock valued at $560,612 over the last quarter. Company 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.