TriNet Group, Inc. (NYSE:TNET) Position Lessened by Swiss National Bank

Swiss National Bank reduced its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,100 shares of the business services provider’s stock after selling 600 shares during the quarter. Swiss National Bank’s holdings in TriNet Group were worth $6,216,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in shares of TriNet Group by 24.9% during the second quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock worth $52,000 after acquiring an additional 104 shares during the last quarter. Avion Wealth grew its position in TriNet Group by 19.2% in the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after purchasing an additional 129 shares during the last quarter. SummerHaven Investment Management LLC grew its position in TriNet Group by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,222 shares of the business services provider’s stock worth $822,000 after purchasing an additional 142 shares during the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of TriNet Group by 2.2% in the second quarter. Linden Thomas Advisory Services LLC now owns 7,163 shares of the business services provider’s stock valued at $716,000 after purchasing an additional 156 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of TriNet Group by 2.0% during the second quarter. Arizona State Retirement System now owns 9,203 shares of the business services provider’s stock valued at $920,000 after buying an additional 180 shares during the last quarter. 96.81% of the stock is owned by institutional investors and hedge funds.

TriNet Group Stock Performance

Shares of NYSE TNET opened at $92.86 on Wednesday. TriNet Group, Inc. has a 1 year low of $74.32 and a 1 year high of $134.67. The firm has a market cap of $4.60 billion, a P/E ratio of 17.89 and a beta of 1.20. The stock has a fifty day moving average price of $93.25 and a two-hundred day moving average price of $98.63. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.07 and a current ratio of 1.07.

TriNet Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Tuesday, October 1st. TriNet Group’s payout ratio is currently 19.27%.

Insiders Place Their Bets

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,813 shares of TriNet Group stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $92.74, for a total value of $168,137.62. Following the transaction, the chief technology officer now owns 36,951 shares in the company, valued at approximately $3,426,835.74. The trade was a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction 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 sale, the director now directly owns 37,591 shares of the company’s stock, valued at approximately $3,241,471.93. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,871 shares of company stock worth $682,636. 37.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on TNET. Needham & Company LLC cut TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 target price on the stock. in a research report on Monday, October 28th. TD Cowen raised their price target on TriNet Group from $92.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $103.00 price objective on shares of TriNet Group in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $117.00.

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.