10,000 Shares in TriNet Group, Inc. (NYSE:TNET) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of TriNet Group, Inc. (NYSE:TNET) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,000 shares of the business services provider’s stock, valued at approximately $908,000.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of TriNet Group by 11.4% during the third quarter. JPMorgan Chase & Co. now owns 385,335 shares of the business services provider’s stock valued at $37,366,000 after buying an additional 39,351 shares in the last quarter. Simcoe Capital Management LLC purchased a new position in TriNet Group during the 3rd quarter valued at about $16,966,000. Tidal Investments LLC increased its holdings in shares of TriNet Group by 5.4% in the 3rd quarter. Tidal Investments LLC now owns 5,121 shares of the business services provider’s stock valued at $495,000 after purchasing an additional 263 shares during the period. Wellington Management Group LLP increased its holdings in shares of TriNet Group by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,321,737 shares of the business services provider’s stock valued at $128,169,000 after purchasing an additional 184,186 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of TriNet Group by 4.2% in the fourth quarter. Nordea Investment Management AB now owns 160,991 shares of the business services provider’s stock worth $14,732,000 after purchasing an additional 6,420 shares in the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, Director Paul Edward Chamberlain sold 600 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $41,616.00. Following the completion of the sale, the director now directly owns 36,991 shares in the company, valued at $2,565,695.76. This represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeffery Jon Hayward sold 7,784 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $89.57, for a total value of $697,212.88. Following the sale, the chief technology officer now owns 21,769 shares of the company’s stock, valued at approximately $1,949,849.33. The trade was a 26.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,748 shares of company stock worth $833,436 over the last three months. Corporate insiders own 37.10% of the company’s stock.

Analysts Set New Price Targets

TNET has been the topic of several research reports. TD Cowen lowered shares of TriNet Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $104.00 to $74.00 in a research note on Tuesday, February 18th. Needham & Company LLC restated a “hold” rating on shares of TriNet Group in a report on Thursday, March 13th.

TriNet Group Stock Up 0.0 %

Shares of TriNet Group stock opened at $79.09 on Tuesday. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 23.13 and a beta of 1.26. The stock has a 50-day simple moving average of $81.21 and a 200-day simple moving average of $88.68. TriNet Group, Inc. has a 52-week low of $65.43 and a 52-week high of $134.67. The company has a debt-to-equity ratio of 13.16, a current ratio of 1.07 and a quick ratio of 1.07.

TriNet Group (NYSE:TNET) last posted its earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. The firm had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $225.72 million. On average, equities research analysts expect that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.39%. This is an increase from TriNet Group’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, April 1st. TriNet Group’s dividend payout ratio is presently 32.16%.

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.