Hsbc Holdings PLC Purchases 14,121 Shares of TriNet Group, Inc. (NYSE:TNET)

Hsbc Holdings PLC raised its position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 28.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,634 shares of the business services provider's stock after buying an additional 14,121 shares during the quarter. Hsbc Holdings PLC owned about 0.13% of TriNet Group worth $5,876,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TNET. IFP Advisors Inc boosted its holdings in TriNet Group by 45.5% in the fourth quarter. IFP Advisors Inc now owns 767 shares of the business services provider's stock worth $71,000 after acquiring an additional 240 shares in the last quarter. Avion Wealth raised its position in shares of TriNet Group by 14.9% in the 4th quarter. Avion Wealth now owns 1,081 shares of the business services provider's stock worth $98,000 after purchasing an additional 140 shares during the last quarter. KBC Group NV boosted its stake 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 worth $124,000 after purchasing an additional 415 shares in the last quarter. PNC Financial Services Group Inc. grew its position 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 during the last quarter. 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 own 96.81% of the company's stock.

Wall Street Analyst Weigh In

TNET has been the topic of several analyst reports. TD Cowen downgraded shares of TriNet Group from a "buy" rating to a "hold" rating and dropped their target price for the stock from $104.00 to $74.00 in a research note on Tuesday, February 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of TriNet Group in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. lifted their target price on TriNet Group from $75.00 to $76.00 and gave the stock an "underweight" rating in a report on Monday, April 28th.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 600 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $41,616.00. Following the completion of the sale, the director now owns 36,991 shares of the company's stock, valued at $2,565,695.76. The trade was a 1.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the firm's stock in a transaction on 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 transaction, the chief technology officer now directly owns 19,867 shares in the company, valued at approximately $1,377,975.12. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 38.10% of the company's stock.

TriNet Group Stock Performance

Shares of NYSE TNET traded up $1.60 during trading on Friday, reaching $80.37. 374,048 shares of the company traded hands, compared to its average volume of 382,728. The firm has a 50 day simple moving average of $76.64 and a 200-day simple moving average of $85.14. TriNet Group, Inc. has a 52-week low of $65.43 and a 52-week high of $116.26. The stock has a market capitalization of $3.89 billion, a PE ratio of 23.50 and a beta of 1.06. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 13.16.

TriNet Group (NYSE:TNET - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The business services provider reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.67 by $0.32. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $319.36 million. During the same quarter in the prior year, the firm earned $2.18 earnings per share. Equities research analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were issued 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 dividend on an annualized basis and a yield of 1.37%. TriNet Group's dividend payout ratio is currently 32.84%.

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.