Raymond James Financial Inc. Takes $1.40 Million Position in TriNet Group, Inc. (NYSE:TNET)

Raymond James Financial Inc. acquired a new stake in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,369 shares of the business services provider's stock, valued at approximately $1,395,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TNET. Russell Investments Group Ltd. raised its stake in shares of TriNet Group by 3.1% in the 4th quarter. Russell Investments Group Ltd. now owns 78,855 shares of the business services provider's stock valued at $7,158,000 after buying an additional 2,349 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of TriNet Group by 4.7% in the fourth quarter. Wells Fargo & Company MN now owns 77,518 shares of the business services provider's stock valued at $7,036,000 after acquiring an additional 3,456 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of TriNet Group by 18.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,898,005 shares of the business services provider's stock worth $172,282,000 after acquiring an additional 289,071 shares in the last quarter. Alliancebernstein L.P. grew its position 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 acquiring an additional 178,228 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in TriNet Group by 23.1% in the 4th quarter. Wellington Management Group LLP now owns 1,626,902 shares of the business services provider's stock valued at $147,674,000 after purchasing an additional 305,165 shares during the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

TriNet Group Price Performance

Shares of NYSE:TNET traded down $0.17 during midday trading on Friday, hitting $82.02. The stock had a trading volume of 49,020 shares, compared to its average volume of 382,087. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 13.16. The company has a market capitalization of $3.97 billion, a P/E ratio of 23.98 and a beta of 0.91. The company's 50-day moving average price is $77.28 and its 200-day moving average price is $84.92. TriNet Group, Inc. has a fifty-two week low of $65.43 and a fifty-two week high of $116.26.

TriNet Group (NYSE:TNET - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The business services provider reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.67 by $0.32. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $319.36 million. During the same quarter in the previous year, the company posted $2.18 EPS. As a group, equities research analysts predict 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 issued a $0.275 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $1.10 annualized dividend and a dividend yield of 1.34%. This is an increase from TriNet Group's previous quarterly dividend of $0.25. TriNet Group's dividend payout ratio is currently 32.84%.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 600 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $2,565,695.76. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 sale, the chief technology officer now directly owns 19,867 shares of the company's stock, valued at $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. 37.10% of the stock is owned by corporate insiders.

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.