First Trust Advisors LP Sells 167,604 Shares of TriNet Group, Inc. $TNET

First Trust Advisors LP lessened its stake in TriNet Group, Inc. (NYSE:TNET) by 31.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 363,873 shares of the business services provider’s stock after selling 167,604 shares during the quarter. First Trust Advisors LP’s holdings in TriNet Group were worth $26,614,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. raised its position in TriNet Group by 183.3% during the first quarter. American Century Companies Inc. now owns 858,205 shares of the business services provider’s stock worth $68,004,000 after acquiring an additional 555,258 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of TriNet Group by 24.3% during the 1st quarter. Wellington Management Group LLP now owns 2,021,749 shares of the business services provider’s stock worth $160,203,000 after purchasing an additional 394,847 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of TriNet Group by 90.1% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 648,630 shares of the business services provider’s stock valued at $47,441,000 after purchasing an additional 307,440 shares during the period. Nuveen LLC acquired a new stake in TriNet Group in the 1st quarter valued at about $18,315,000. Finally, New Vernon Capital Holdings II LLC grew its holdings in TriNet Group by 9,748.4% during the first quarter. New Vernon Capital Holdings II LLC now owns 217,355 shares of the business services provider’s stock worth $17,223,000 after purchasing an additional 215,148 shares during the period. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on TNET. Truist Financial started coverage on TriNet Group in a research note on Friday, December 5th. They issued a “hold” rating and a $62.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on TriNet Group from $75.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Zacks Research raised shares of TriNet Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. UBS Group decreased their price objective on shares of TriNet Group from $69.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of TriNet Group in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $66.00.

TriNet Group Price Performance

Shares of TriNet Group stock opened at $56.27 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 8.14. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 20.77 and a beta of 0.84. TriNet Group, Inc. has a twelve month low of $54.22 and a twelve month high of $97.02. The company has a 50-day simple moving average of $59.30 and a two-hundred day simple moving average of $66.93.

TriNet Group (NYSE:TNET) last announced its earnings results on Wednesday, October 29th. The business services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.72 by $0.39. TriNet Group had a net margin of 2.64% and a return on equity of 212.38%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $261.92 million. During the same period last year, the firm earned $1.17 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. Analysts forecast that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Wednesday, October 1st were issued a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $1.10 annualized dividend and a yield of 2.0%. TriNet Group’s payout ratio is currently 40.59%.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 600 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $57.81, for a total value of $34,686.00. Following the completion of the transaction, the director owned 37,840 shares of the company’s stock, valued at $2,187,530.40. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Sidney A. Majalya sold 775 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $65.93, for a total transaction of $51,095.75. Following the sale, the senior vice president directly owned 20,933 shares of the company’s stock, valued at $1,380,112.69. This represents a 3.57% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 3,398 shares of company stock valued at $200,433. 38.10% of the stock is owned by insiders.

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.