TriNet Group (NYSE:TNET) Receives Underweight Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their underweight rating on shares of TriNet Group (NYSE:TNET) in a report released on Tuesday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has a $103.00 target price on the business services provider’s stock.

A number of other equities analysts have also recently issued reports on TNET. TD Cowen cut their target price on shares of TriNet Group from $132.00 to $118.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price target on shares of TriNet Group in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $118.40.

TriNet Group Stock Performance

Shares of TNET opened at $92.04 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 9.84. The stock has a market cap of $4.57 billion, a P/E ratio of 15.55 and a beta of 1.17. The company has a 50-day moving average of $97.18 and a two-hundred day moving average of $103.41. TriNet Group has a 12-month low of $89.93 and a 12-month high of $134.67.

TriNet Group (NYSE:TNET) last announced its earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.29. The company had revenue of $310.00 million during the quarter, compared to analysts’ expectations of $301.76 million. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. As a group, research analysts predict that TriNet Group will post 5.13 EPS for the current fiscal year.

TriNet Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.09%. TriNet Group’s payout ratio is 16.89%.

Insider Activity at TriNet Group

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the sale, the chief financial officer now directly owns 82,409 shares in the company, valued at approximately $8,484,830.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the sale, the chief financial officer now directly owns 82,409 shares in the company, valued at approximately $8,484,830.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total transaction of $39,937.50. Following the completion of the sale, the director now owns 37,966 shares of the company’s stock, valued at approximately $4,043,379. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.10% of the stock is owned by insiders.

Institutional Investors Weigh In On TriNet Group

Several institutional investors have recently bought and sold shares of TNET. Jane Street Group LLC grew its stake in TriNet Group by 67.7% during the first quarter. Jane Street Group LLC now owns 1,149,929 shares of the business services provider’s stock worth $152,354,000 after buying an additional 464,289 shares during the period. Price T Rowe Associates Inc. MD grew its stake in TriNet Group by 960.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 236,003 shares of the business services provider’s stock worth $31,269,000 after buying an additional 213,752 shares during the period. Point72 Asset Management L.P. purchased a new stake in TriNet Group during the second quarter worth approximately $20,610,000. Earnest Partners LLC grew its stake in TriNet Group by 19.8% during the first quarter. Earnest Partners LLC now owns 898,335 shares of the business services provider’s stock worth $119,020,000 after buying an additional 148,779 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in TriNet Group by 9.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,217,214 shares of the business services provider’s stock worth $121,721,000 after buying an additional 103,809 shares during the period. 96.81% of the stock is currently owned by hedge funds and other institutional investors.

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.