Principal Financial Group Inc. Cuts Holdings in TriNet Group, Inc. (NYSE:TNET)

Principal Financial Group Inc. cut its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 86.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,967 shares of the business services provider’s stock after selling 18,892 shares during the period. Principal Financial Group Inc.’s holdings in TriNet Group were worth $288,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Global Investments purchased a new position in TriNet Group during the third quarter worth approximately $605,000. US Bancorp DE lifted its position in shares of TriNet Group by 9,893.1% during the 3rd quarter. US Bancorp DE now owns 7,195 shares of the business services provider’s stock valued at $698,000 after buying an additional 7,123 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in TriNet Group by 32.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider’s stock valued at $156,018,000 after acquiring an additional 391,720 shares during the period. Simcoe Capital Management LLC purchased a new stake in TriNet Group in the 3rd quarter worth $16,966,000. Finally, Chase Investment Counsel Corp acquired a new position in TriNet Group during the second quarter worth $875,000. Hedge funds and other institutional investors own 96.81% of the company’s stock.

TriNet Group Stock Performance

TNET opened at $89.92 on Tuesday. TriNet Group, Inc. has a twelve month low of $74.32 and a twelve month high of $134.67. The firm has a market capitalization of $4.46 billion, a PE ratio of 17.33 and a beta of 1.21. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 7.70. The firm’s 50-day moving average price is $91.32 and its 200 day moving average price is $96.18.

TriNet Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd will be given a $0.25 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.11%. TriNet Group’s dividend payout ratio (DPR) is presently 19.27%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $103.00 target price on shares of TriNet Group in a research report on Tuesday, October 22nd. TD Cowen boosted their price objective on TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Needham & Company LLC downgraded 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $117.00.

Insider Activity at TriNet Group

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $86.23, for a total transaction of $32,336.25. Following the transaction, the director now directly owns 37,591 shares of the company’s stock, valued at $3,241,471.93. The trade was a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeffery Jon Hayward sold 1,813 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $92.74, for a total transaction of $168,137.62. Following the completion of the sale, the chief technology officer now directly owns 36,951 shares of the company’s stock, valued at approximately $3,426,835.74. This trade represents a 4.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,533 shares of company stock valued at $418,629. 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.