Verdence Capital Advisors LLC Invests $499,000 in TriNet Group, Inc. (NYSE:TNET)

Verdence Capital Advisors LLC purchased a new position in TriNet Group, Inc. (NYSE:TNET - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,293 shares of the business services provider's stock, valued at approximately $499,000.

A number of other institutional investors also recently modified their holdings of TNET. Raymond James Financial Inc. acquired a new position in shares of TriNet Group during the 4th quarter valued at $1,395,000. PNC Financial Services Group Inc. increased its stake in TriNet Group by 118.8% during 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 purchasing an additional 785 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in TriNet Group by 11.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,442 shares of the business services provider's stock valued at $766,000 after purchasing an additional 872 shares in the last quarter. Cibc World Markets Corp bought a new stake in TriNet Group during the 4th quarter valued at $271,000. Finally, Xponance Inc. increased its stake in TriNet Group by 17.8% during the 4th quarter. Xponance Inc. now owns 2,456 shares of the business services provider's stock valued at $223,000 after purchasing an additional 371 shares in the last quarter. Institutional investors and hedge funds own 96.81% of the company's stock.

Insider Transactions at TriNet Group

In related news, CTO Jeffery Jon Hayward sold 1,437 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $82.04, for a total value of $117,891.48. Following the sale, the chief technology officer directly owned 32,932 shares of the company's stock, valued at $2,701,741.28. This trade represents a 4.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Sidney A. Majalya sold 500 shares of the firm's stock in a transaction that occurred on 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 sale, the senior vice president directly owned 23,033 shares in the company, valued at $1,914,963.62. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,120 shares of company stock worth $175,291. Insiders own 38.10% of the company's stock.

TriNet Group Price Performance

NYSE TNET opened at $63.90 on Friday. The company has a market cap of $3.09 billion, a PE ratio of 19.07 and a beta of 0.84. TriNet Group, Inc. has a 52 week low of $63.77 and a 52 week high of $116.26. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 14.43. The firm's 50-day simple moving average is $77.35 and its two-hundred day simple moving average is $80.08.

TriNet Group (NYSE:TNET - Get Free Report) last released its quarterly earnings data 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 3.32% and a return on equity of 237.87%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $319.36 million. During the same period in the prior year, the firm earned $2.18 earnings per share. Research analysts predict that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Tuesday, July 1st will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Tuesday, July 1st. TriNet Group's payout ratio is 32.84%.

Wall Street Analyst Weigh In

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

TriNet Group 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.

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