TriNet Group, Inc. (NYSE:TNET) Announces Quarterly Dividend of $0.28

TriNet Group, Inc. (NYSE:TNET - Get Free Report) declared a quarterly dividend on Friday, June 13th, RTT News reports. Stockholders of record on Tuesday, July 1st will be paid a dividend of 0.275 per share by the business services provider on Monday, July 28th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Tuesday, July 1st.

TriNet Group has a payout ratio of 22.5% meaning its dividend is sufficiently covered by earnings. Analysts expect TriNet Group to earn $3.50 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 31.4%.

TriNet Group Trading Up 2.1%

TriNet Group stock traded up $1.61 during mid-day trading on Monday, hitting $77.50. 287,466 shares of the stock were exchanged, compared to its average volume of 379,357. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 22.66 and a beta of 0.90. TriNet Group has a 12 month low of $65.43 and a 12 month high of $116.26. 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 firm's fifty day simple moving average is $80.40 and its two-hundred day simple moving average is $83.41.

TriNet Group (NYSE:TNET - Get Free Report) last announced its earnings results on Friday, April 25th. The business services provider reported $1.99 earnings per share for the quarter, topping analysts' consensus estimates of $1.67 by $0.32. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $319.36 million. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. During the same quarter last year, the firm earned $2.18 earnings per share. Analysts forecast that TriNet Group will post 3.04 EPS for the current year.

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 that occurred on Tuesday, May 27th. The stock was sold at an average price of $82.04, for a total transaction of $117,891.48. Following the completion of the sale, the chief technology officer now directly owns 32,932 shares of the company's stock, valued at approximately $2,701,741.28. The trade was a 4.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $41,570.00. Following the completion of the transaction, the senior vice president now owns 23,033 shares in the company, valued at $1,914,963.62. This represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,120 shares of company stock worth $175,291. Insiders own 38.10% of the company's stock.

Institutional Investors Weigh In On TriNet Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Intech Investment Management LLC boosted its holdings in TriNet Group by 10.3% during the 1st quarter. Intech Investment Management LLC now owns 16,862 shares of the business services provider's stock worth $1,336,000 after acquiring an additional 1,577 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of TriNet Group by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,009 shares of the business services provider's stock valued at $1,506,000 after purchasing an additional 819 shares in the last quarter. Jane Street Group LLC purchased a new position in TriNet Group during the first quarter worth about $3,204,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in TriNet Group by 0.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,575 shares of the business services provider's stock worth $6,068,000 after purchasing an additional 470 shares in the last quarter. Finally, Millennium Management LLC grew its position in TriNet Group by 3,995.7% in the 1st quarter. Millennium Management LLC now owns 138,926 shares of the business services provider's stock worth $11,008,000 after purchasing an additional 135,534 shares in the last quarter. 96.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TNET shares. JPMorgan Chase & Co. increased their price target on TriNet Group from $75.00 to $76.00 and gave the stock an "underweight" rating in a report on Monday, April 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of TriNet Group in a research note on Thursday, March 13th. Finally, TD Cowen lowered TriNet Group from a "buy" rating to a "hold" rating and cut their price target for the stock from $104.00 to $74.00 in a report on Tuesday, February 18th.

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.