State Street Corp Decreases Stock Holdings in TriNet Group, Inc. (NYSE:TNET)

State Street Corp reduced its position in shares of TriNet Group, Inc. (NYSE:TNET) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 773,541 shares of the business services provider’s stock after selling 4,677 shares during the period. State Street Corp owned 1.56% of TriNet Group worth $75,010,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Rothschild Investment LLC bought a new stake in shares of TriNet Group during the 2nd quarter valued at about $45,000. Blue Trust Inc. boosted its position in TriNet Group by 24.9% during the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 104 shares in the last quarter. Avion Wealth grew its holdings in shares of TriNet Group by 19.2% during the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after acquiring an additional 129 shares during the period. KBC Group NV raised its position in shares of TriNet Group by 26.5% in the 3rd quarter. KBC Group NV now owns 950 shares of the business services provider’s stock worth $92,000 after acquiring an additional 199 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of TriNet Group in the 2nd quarter valued at approximately $93,000. 96.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TNET shares. TD Cowen increased their price objective on TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $103.00 price target on shares of TriNet Group in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC cut shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price objective on the stock. in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $117.00.

TriNet Group Price Performance

Shares of NYSE:TNET opened at $90.91 on Wednesday. The business has a fifty day moving average price of $92.44 and a 200-day moving average price of $97.55. 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 company has a market capitalization of $4.51 billion, a PE ratio of 17.64 and a beta of 1.21. 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 will be paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. TriNet Group’s dividend payout ratio is presently 19.27%.

Insider Activity

In related news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total value of $32,336.25. Following the completion of the sale, the director now directly owns 37,591 shares in the company, valued at approximately $3,241,471.93. This trade represents a 0.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeffery Jon Hayward sold 2,345 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $93.03, for a total value of $218,155.35. Following the completion of the transaction, the chief technology officer now directly owns 34,606 shares of the company’s stock, valued at approximately $3,219,396.18. This trade represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,533 shares of company stock worth $418,629 over the last 90 days. 37.10% of the stock is currently owned by insiders.

TriNet Group 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.