Virtu Financial LLC purchased a new stake in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,686 shares of the business services provider's stock, valued at approximately $371,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of TriNet Group by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 519,774 shares of the business services provider's stock valued at $41,187,000 after acquiring an additional 25,938 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of TriNet Group by 58.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,291 shares of the business services provider's stock valued at $182,000 after acquiring an additional 845 shares during the last quarter. US Bancorp DE boosted its position in shares of TriNet Group by 4.6% during the 1st quarter. US Bancorp DE now owns 7,534 shares of the business services provider's stock valued at $597,000 after acquiring an additional 332 shares during the last quarter. Natixis Advisors LLC acquired a new position in shares of TriNet Group during the 1st quarter valued at about $4,871,000. Finally, Bayforest Capital Ltd boosted its position in shares of TriNet Group by 543.3% during the 1st quarter. Bayforest Capital Ltd now owns 13,001 shares of the business services provider's stock valued at $1,030,000 after acquiring an additional 10,980 shares during the last quarter. Institutional investors and hedge funds own 96.81% of the company's stock.
TriNet Group Trading Down 1.5%
NYSE TNET opened at $66.03 on Friday. The firm's 50-day moving average is $70.62 and its two-hundred day moving average is $76.65. TriNet Group, Inc. has a 12 month low of $62.55 and a 12 month high of $104.06. The company has a debt-to-equity ratio of 8.36, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $3.21 billion, a P/E ratio of 22.69 and a beta of 0.83.
TriNet Group (NYSE:TNET - Get Free Report) last posted its earnings results on Friday, July 25th. The business services provider reported $1.15 EPS for the quarter, beating analysts' consensus estimates 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 prior year, the company posted $1.53 earnings per share. On average, sell-side analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current year.
TriNet Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.275 per share. The ex-dividend date was Tuesday, July 1st. This represents a $1.10 dividend on an annualized basis and a yield of 1.7%. TriNet Group's dividend payout ratio is 37.80%.
Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. decreased their target price on shares of TriNet Group from $76.00 to $75.00 and set an "underweight" rating on the stock in a research report on Monday, July 28th.
Get Our Latest Analysis on TriNet Group
Insiders Place Their Bets
In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,437 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $82.04, for a total transaction of $117,891.48. Following the sale, the chief technology officer directly owned 32,932 shares in the company, valued at $2,701,741.28. This represents a 4.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sidney A. Majalya sold 500 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $83.14, for a total transaction of $41,570.00. Following the sale, the senior vice president owned 23,033 shares in the company, valued at $1,914,963.62. This trade represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,720 shares of company stock worth $213,799 over the last three months. Company insiders own 38.10% of the company's stock.
TriNet Group Profile
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Free Report)
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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