TriNet Group (NYSE:TNET) Hits New 12-Month Low - Here's Why

TriNet Group, Inc. (NYSE:TNET - Get Free Report)'s stock price hit a new 52-week low on Wednesday . The stock traded as low as $65.14 and last traded at $65.81, with a volume of 34821 shares trading hands. The stock had previously closed at $65.83.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their price target on shares of TriNet Group from $75.00 to $76.00 and gave the stock an "underweight" rating in a report on Monday, April 28th.

TriNet Group Stock Performance

The stock has a 50 day moving average of $78.06 and a two-hundred day moving average of $80.44. The stock has a market capitalization of $3.12 billion, a PE ratio of 19.25 and a beta of 0.84. The company has a debt-to-equity ratio of 14.43, a current ratio of 1.08 and a quick ratio of 1.08.

TriNet Group (NYSE:TNET - Get Free Report) last released its 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 237.87% and a net margin of 3.32%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $319.36 million. During the same quarter last year, the company earned $2.18 earnings per share. Research analysts expect that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, July 1st. TriNet Group's dividend payout ratio is currently 32.84%.

Insider Activity

In related news, CTO Jeffery Jon Hayward sold 1,437 shares of TriNet Group stock in a transaction 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 transaction, the chief technology officer directly owned 32,932 shares of the company's stock, valued at approximately $2,701,741.28. The trade was a 4.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Sidney A. Majalya sold 500 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $83.14, for a total value of $41,570.00. Following the sale, the senior vice president owned 23,033 shares in the company, valued at approximately $1,914,963.62. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,120 shares of company stock worth $175,291 over the last 90 days. 38.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TriNet Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors increased its position in TriNet Group by 98.2% during the fourth quarter. Capital Research Global Investors now owns 2,822,839 shares of the business services provider's stock worth $256,229,000 after buying an additional 1,398,573 shares in the last quarter. American Century Companies Inc. grew its position in shares of TriNet Group by 183.3% in the first quarter. American Century Companies Inc. now owns 858,205 shares of the business services provider's stock valued at $68,004,000 after purchasing an additional 555,258 shares during the period. Wellington Management Group LLP increased its stake in TriNet Group by 24.3% in the first quarter. Wellington Management Group LLP now owns 2,021,749 shares of the business services provider's stock valued at $160,203,000 after purchasing an additional 394,847 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new position in TriNet Group during the fourth quarter worth about $35,567,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in TriNet Group in the 1st quarter worth about $27,037,000. Institutional investors and hedge funds own 96.81% of the company's stock.

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.