TriNet Group, Inc. (NYSE:TNET) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its position in shares of TriNet Group, Inc. (NYSE:TNET) by 11.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,624 shares of the business services provider’s stock after acquiring an additional 1,988 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in TriNet Group were worth $1,903,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC acquired a new position in shares of TriNet Group during the 2nd quarter valued at about $45,000. Blue Trust Inc. lifted its position in TriNet Group by 24.9% in the second quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock valued at $52,000 after buying an additional 104 shares during the last quarter. LRI Investments LLC acquired a new position in TriNet Group in the first quarter valued at about $81,000. Avion Wealth lifted its position in TriNet Group by 19.2% in the second quarter. Avion Wealth now owns 800 shares of the business services provider’s stock valued at $80,000 after buying an additional 129 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in TriNet Group in the second quarter valued at about $93,000. Institutional investors and hedge funds own 96.81% of the company’s stock.

TriNet Group Stock Down 4.8 %

Shares of NYSE:TNET opened at $91.71 on Monday. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $4.55 billion, a PE ratio of 17.67 and a beta of 1.20. The firm’s 50-day moving average is $93.81 and its two-hundred day moving average is $99.18. TriNet Group, Inc. has a 1 year low of $74.32 and a 1 year high of $134.67.

TriNet Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 1st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. TriNet Group’s payout ratio is 19.27%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. TD Cowen decreased their target price on shares of TriNet Group from $110.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $103.00 target price on shares of TriNet Group in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC lowered shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $114.00.

Insider Buying and Selling

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the transaction, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. This represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $86.23, for a total value of $32,336.25. Following the completion of the transaction, the director now directly owns 37,591 shares of the company’s stock, valued at $3,241,471.93. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 37.10% 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.