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

TriNet Group, Inc. (NYSE:TNET - Get Free Report) declared a quarterly dividend on Friday, June 13th, RTT News reports. Shareholders 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 yield of 1.45%. The ex-dividend date of this dividend is Tuesday, July 1st.

TriNet Group has a payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Down 3.7%

NYSE TNET traded down $2.94 during trading on Friday, hitting $75.82. The company had a trading volume of 294,522 shares, compared to its average volume of 379,140. The company's fifty day moving average is $80.33 and its 200-day moving average is $83.66. TriNet Group has a one year low of $65.43 and a one year high of $116.26. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 22.17 and a beta of 0.90.

TriNet Group (NYSE:TNET - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The business services provider reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $319.36 million. During the same quarter in the previous year, the company earned $2.18 earnings per share. On average, sell-side analysts predict that TriNet Group will post 3.04 earnings per share for the current year.

Insider Activity

In other news, SVP Sidney A. Majalya sold 500 shares of TriNet Group stock in a transaction dated Wednesday, May 21st. The stock was 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 of the company's stock, valued at $1,914,963.62. The trade was a 2.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeffery Jon Hayward sold 1,437 shares of the firm's stock in a transaction that occurred on 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 now directly owns 32,932 shares of the company's stock, valued at $2,701,741.28. This trade represents a 4.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,120 shares of company stock worth $175,291. Insiders own 37.10% of the company's stock.

Institutional Trading of TriNet Group

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

Wall Street Analyst Weigh In

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

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.