Raymond James Financial Inc. Makes New $1.40 Million Investment in TriNet Group, Inc. (NYSE:TNET)

Raymond James Financial Inc. purchased a new stake in TriNet Group, Inc. (NYSE:TNET - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 15,369 shares of the business services provider's stock, valued at approximately $1,395,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wealthfront Advisers LLC acquired a new stake in TriNet Group during the 4th quarter worth $456,581,000. Wellington Management Group LLP raised its position in shares of TriNet Group by 23.1% during the fourth quarter. Wellington Management Group LLP now owns 1,626,902 shares of the business services provider's stock worth $147,674,000 after purchasing an additional 305,165 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of TriNet Group by 18.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,898,005 shares of the business services provider's stock valued at $172,282,000 after purchasing an additional 289,071 shares in the last quarter. American Century Companies Inc. grew its position in shares of TriNet Group by 1,131.0% in the 4th quarter. American Century Companies Inc. now owns 302,947 shares of the business services provider's stock valued at $27,498,000 after purchasing an additional 278,338 shares during the period. Finally, Alliancebernstein L.P. increased its stake in TriNet Group by 495.2% during the 4th quarter. Alliancebernstein L.P. now owns 214,217 shares of the business services provider's stock worth $19,444,000 after purchasing an additional 178,228 shares in the last quarter. Institutional investors own 96.81% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at TriNet Group

In related news, CTO Jeffery Jon Hayward sold 1,364 shares of the business's stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 19,867 shares in the company, valued at approximately $1,377,975.12. The trade was a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 600 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 $41,616.00. Following the transaction, the director now owns 36,991 shares in the company, valued at approximately $2,565,695.76. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 37.10% of the company's stock.

TriNet Group Stock Performance

NYSE TNET traded up $1.53 on Wednesday, hitting $80.93. 382,818 shares of the stock were exchanged, compared to its average volume of 383,075. The company has a market capitalization of $3.92 billion, a PE ratio of 23.66 and a beta of 0.91. The company has a debt-to-equity ratio of 13.16, a current ratio of 1.07 and a quick ratio of 1.07. The business's fifty day moving average is $76.94 and its 200 day moving average is $85.01. TriNet Group, Inc. has a 52 week low of $65.43 and a 52 week high of $116.26.

TriNet Group (NYSE:TNET - Get Free Report) last issued its earnings results on Friday, April 25th. The business services provider reported $1.99 EPS for the quarter, topping the consensus estimate of $1.67 by $0.32. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $319.36 million. During the same period in the previous year, the company posted $2.18 EPS. Research analysts anticipate that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were given 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 annualized dividend and a dividend yield of 1.36%. TriNet Group's dividend payout ratio is presently 32.84%.

About TriNet Group

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.