Principal Financial Group Inc. Sells 1,777 Shares of TriNet Group, Inc. (NYSE:TNET)

Principal Financial Group Inc. cut its position in shares of TriNet Group, Inc. (NYSE:TNET) by 8.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,539 shares of the business services provider’s stock after selling 1,777 shares during the period. Principal Financial Group Inc.’s holdings in TriNet Group were worth $2,589,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Oliver Luxxe Assets LLC boosted its holdings in shares of TriNet Group by 1.4% in the first quarter. Oliver Luxxe Assets LLC now owns 5,860 shares of the business services provider’s stock valued at $776,000 after purchasing an additional 83 shares during the period. SummerHaven Investment Management LLC grew its position in shares of TriNet Group by 1.2% during the 4th quarter. SummerHaven Investment Management LLC now owns 7,999 shares of the business services provider’s stock worth $951,000 after buying an additional 91 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of TriNet Group by 12.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 880 shares of the business services provider’s stock valued at $105,000 after buying an additional 100 shares during the period. Avion Wealth lifted its stake in TriNet Group by 22.9% in the fourth quarter. Avion Wealth now owns 569 shares of the business services provider’s stock worth $68,000 after acquiring an additional 106 shares during the period. Finally, Blue Trust Inc. grew its holdings in TriNet Group by 15.7% during the 4th quarter. Blue Trust Inc. now owns 798 shares of the business services provider’s stock worth $93,000 after acquiring an additional 108 shares in the last quarter. Institutional investors own 96.81% of the company’s stock.

TriNet Group Stock Performance

Shares of TNET traded down $1.08 during mid-day trading on Friday, reaching $98.26. The company had a trading volume of 101,401 shares, compared to its average volume of 264,358. The stock has a market capitalization of $4.97 billion, a P/E ratio of 16.13 and a beta of 1.19. TriNet Group, Inc. has a 52-week low of $90.55 and a 52-week high of $134.67. The stock has a 50 day moving average of $103.30 and a two-hundred day moving average of $116.09. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 6.88.

TriNet Group (NYSE:TNET) last posted its earnings results on Friday, April 26th. The business services provider reported $1.86 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.36). TriNet Group had a net margin of 6.78% and a return on equity of 124.38%. The firm had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $380.41 million. On average, analysts expect that TriNet Group, Inc. will post 4.82 earnings per share for the current year.

TriNet Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Monday, July 1st. TriNet Group’s payout ratio is currently 16.39%.

Insider Activity

In other news, SVP Alexander G. Warren sold 1,867 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $103.74, for a total transaction of $193,682.58. Following the completion of the sale, the senior vice president now owns 32,661 shares of the company’s stock, valued at $3,388,252.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total transaction of $37,882.50. Following the transaction, the director now owns 36,341 shares of the company’s stock, valued at $3,671,167.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Alexander G. Warren sold 1,867 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $103.74, for a total value of $193,682.58. Following the completion of the sale, the senior vice president now directly owns 32,661 shares of the company’s stock, valued at $3,388,252.14. The disclosure for this sale can be found here. Insiders own 37.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on TNET shares. StockNews.com lowered TriNet Group from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Needham & Company LLC dropped their target price on shares of TriNet Group from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, TD Cowen cut their price objective on TriNet Group from $132.00 to $118.00 and set a “buy” rating on the stock in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.83.

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.