Jennison Associates LLC Takes Position in TriNet Group, Inc. (NYSE:TNET)

Jennison Associates LLC purchased a new stake in TriNet Group, Inc. (NYSE:TNET) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,564 shares of the business services provider’s stock, valued at approximately $662,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TNET. Massachusetts Financial Services Co. MA grew its holdings in shares of TriNet Group by 84.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 807,212 shares of the business services provider’s stock valued at $94,024,000 after buying an additional 369,144 shares during the period. Boston Partners acquired a new position in TriNet Group in the 3rd quarter worth $11,186,000. Cookson Peirce & Co. Inc. acquired a new position in TriNet Group in the 4th quarter worth $7,777,000. Acadian Asset Management LLC boosted its stake in TriNet Group by 101.4% in the 3rd quarter. Acadian Asset Management LLC now owns 81,168 shares of the business services provider’s stock worth $9,449,000 after purchasing an additional 40,860 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in TriNet Group by 128.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 54,106 shares of the business services provider’s stock worth $6,302,000 after purchasing an additional 30,397 shares during the period. Institutional investors and hedge funds own 96.81% of the company’s stock.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, EVP Samantha Wellington sold 14,271 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total value of $1,782,162.48. Following the transaction, the executive vice president now directly owns 48,562 shares of the company’s stock, valued at approximately $6,064,422.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,396 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $122.67, for a total transaction of $539,257.32. Following the transaction, the chief financial officer now owns 65,999 shares in the company, valued at approximately $8,096,097.33. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Samantha Wellington sold 14,271 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the transaction, the executive vice president now owns 48,562 shares in the company, valued at approximately $6,064,422.56. The disclosure for this sale can be found here. Insiders have sold a total of 31,052 shares of company stock valued at $3,837,142 in the last three months. 37.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TNET shares. TD Cowen upped their target price on shares of TriNet Group from $129.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. StockNews.com raised shares of TriNet Group from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Needham & Company LLC reduced their target price on shares of TriNet Group from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday. Finally, Stifel Nicolaus boosted their price target on shares of TriNet Group from $117.00 to $121.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $117.50.

TriNet Group Trading Down 16.6 %

Shares of NYSE:TNET opened at $105.72 on Friday. The company’s 50-day moving average price is $127.99 and its two-hundred day moving average price is $119.38. The company has a debt-to-equity ratio of 12.62, a current ratio of 1.05 and a quick ratio of 1.05. TriNet Group, Inc. has a one year low of $79.00 and a one year high of $134.67. The stock has a market capitalization of $5.35 billion, a PE ratio of 17.33 and a beta of 1.09.

TriNet Group (NYSE:TNET) last issued its earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.46. The company had revenue of $326.00 million for the quarter, compared to analysts’ expectations of $300.36 million. TriNet Group had a net margin of 7.62% and a return on equity of 87.97%. On average, equities analysts forecast that TriNet Group, Inc. will post 5.79 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 1st were issued a $0.25 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.00 annualized dividend and a yield of 0.95%. TriNet Group’s dividend payout ratio is currently 16.39%.

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.