Raymond James Financial Inc. Makes New Investment in TriNet Group, Inc. (NYSE:TNET)

Raymond James Financial Inc. bought a new position in shares of TriNet Group, Inc. (NYSE:TNET) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,369 shares of the business services provider’s stock, valued at approximately $1,395,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. TD Private Client Wealth LLC increased its position in TriNet Group by 25.5% during the third quarter. TD Private Client Wealth LLC now owns 595 shares of the business services provider’s stock worth $58,000 after buying an additional 121 shares during the period. Avion Wealth increased its holdings in shares of TriNet Group by 14.9% in the 4th quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock valued at $98,000 after acquiring an additional 140 shares during the period. Franklin Resources Inc. increased its holdings in shares of TriNet Group by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 5,086 shares of the business services provider’s stock valued at $499,000 after acquiring an additional 169 shares during the period. Linden Thomas Advisory Services LLC raised its position in TriNet Group by 2.6% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,731 shares of the business services provider’s stock valued at $702,000 after purchasing an additional 196 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in TriNet Group by 45.5% during the 4th quarter. IFP Advisors Inc now owns 767 shares of the business services provider’s stock worth $71,000 after purchasing an additional 240 shares during the period. 96.81% of the stock is owned by hedge funds and other institutional investors.

TriNet Group Stock Up 0.2 %

Shares of TriNet Group stock opened at $79.56 on Thursday. TriNet Group, Inc. has a one year low of $65.43 and a one year high of $134.67. The company has a market cap of $3.94 billion, a P/E ratio of 23.26 and a beta of 1.26. The company has a debt-to-equity ratio of 13.16, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a fifty day moving average of $80.63 and a two-hundred day moving average of $88.49.

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

TriNet Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be paid a $0.275 dividend. The ex-dividend date is Tuesday, April 1st. This is an increase from TriNet Group’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.38%. TriNet Group’s payout ratio is 32.16%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CTO Jeffery Jon Hayward sold 1,364 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total value of $94,607.04. Following the completion of the transaction, the chief technology officer now directly owns 19,867 shares of the company’s stock, valued at $1,377,975.12. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 600 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total value of $41,616.00. Following the sale, the director now owns 36,991 shares in the company, valued at approximately $2,565,695.76. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,748 shares of company stock valued at $833,436 over the last quarter. Company insiders own 37.10% of the company’s stock.

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.