Acadian Asset Management LLC Decreases Stake in TriNet Group, Inc. (NYSE:TNET)

Acadian Asset Management LLC cut its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 55.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 75,264 shares of the business services provider’s stock after selling 92,673 shares during the quarter. Acadian Asset Management LLC owned about 0.15% of TriNet Group worth $9,970,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Norges Bank acquired a new position in TriNet Group during the fourth quarter worth about $19,650,000. Wedge Capital Management L L P NC grew its holdings in shares of TriNet Group by 253.6% in the 4th quarter. Wedge Capital Management L L P NC now owns 144,083 shares of the business services provider’s stock worth $17,136,000 after acquiring an additional 103,330 shares during the period. Massachusetts Financial Services Co. MA increased its stake in TriNet Group by 11.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 897,009 shares of the business services provider’s stock valued at $106,681,000 after purchasing an additional 89,797 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new position in TriNet Group in the 4th quarter valued at approximately $7,777,000. Finally, Vanguard Group Inc. raised its holdings in TriNet Group by 1.9% during the first quarter. Vanguard Group Inc. now owns 2,838,347 shares of the business services provider’s stock worth $376,053,000 after purchasing an additional 52,240 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Analyst Ratings Changes

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

TriNet Group Price Performance

Shares of TNET traded up $0.31 during trading hours on Friday, reaching $107.80. 294,887 shares of the company traded hands, compared to its average volume of 372,142. The stock has a market capitalization of $5.45 billion, a PE ratio of 17.67 and a beta of 1.19. The stock has a fifty day simple moving average of $103.42 and a 200 day simple moving average of $114.81. TriNet Group, Inc. has a fifty-two week low of $95.24 and a fifty-two week high of $134.67. 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 issued its quarterly earnings results on Friday, April 26th. The business services provider reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.36). The firm had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $380.41 million. TriNet Group had a return on equity of 124.38% and a net margin of 6.78%. As a group, research analysts predict that TriNet Group, Inc. will post 4.82 EPS for the current fiscal year.

TriNet Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Monday, July 1st. TriNet Group’s dividend payout ratio is presently 16.39%.

Insider Activity

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total value of $37,882.50. Following the sale, the director now directly owns 36,341 shares of the company’s stock, valued at approximately $3,671,167.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were 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 legal filing with the SEC, which is accessible through the SEC website. Also, SVP Alexander G. Warren sold 1,867 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $103.74, for a total transaction of $193,682.58. Following 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. 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.