Allianz Asset Management GmbH Has $5.46 Million Holdings in TriNet Group, Inc. $TNET

Allianz Asset Management GmbH raised its position in shares of TriNet Group, Inc. (NYSE:TNET) by 27.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,619 shares of the business services provider’s stock after purchasing an additional 17,803 shares during the period. Allianz Asset Management GmbH’s holdings in TriNet Group were worth $5,459,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. AlphaQuest LLC increased its holdings in TriNet Group by 34.0% in the third quarter. AlphaQuest LLC now owns 3,143 shares of the business services provider’s stock worth $210,000 after buying an additional 798 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in TriNet Group by 106.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 445 shares of the business services provider’s stock worth $30,000 after acquiring an additional 229 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of TriNet Group by 57.4% during the 3rd quarter. Federated Hermes Inc. now owns 23,160 shares of the business services provider’s stock valued at $1,549,000 after purchasing an additional 8,443 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of TriNet Group by 62.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 17,178 shares of the business services provider’s stock valued at $1,149,000 after purchasing an additional 6,575 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of TriNet Group by 402.7% in the 3rd quarter. Covestor Ltd now owns 1,282 shares of the business services provider’s stock valued at $86,000 after purchasing an additional 1,027 shares during the last quarter. Institutional investors own 96.81% of the company’s stock.

TriNet Group Price Performance

Shares of NYSE:TNET opened at $51.35 on Wednesday. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 18.95 and a beta of 0.81. The business has a 50 day moving average price of $59.39 and a 200 day moving average price of $62.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 8.14. TriNet Group, Inc. has a twelve month low of $51.26 and a twelve month high of $94.54.

TriNet Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 2nd were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. TriNet Group’s payout ratio is 40.59%.

Insider Buying and Selling

In other news, SVP Anthony Shea Treadway sold 459 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $54.52, for a total transaction of $25,024.68. Following the transaction, the senior vice president owned 28,224 shares in the company, valued at approximately $1,538,772.48. The trade was a 1.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeffery Jon Hayward sold 1,437 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $57.51, for a total transaction of $82,641.87. Following the completion of the sale, the chief technology officer owned 27,922 shares of the company’s stock, valued at approximately $1,605,794.22. The trade was a 4.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 2,798 shares of company stock valued at $162,593. 37.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

TNET has been the topic of several recent research reports. Weiss Ratings restated a “sell (d+)” rating on shares of TriNet Group in a report on Wednesday, January 21st. TD Cowen cut their price objective on TriNet Group from $65.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, January 8th. Truist Financial initiated coverage on TriNet Group in a report on Friday, December 5th. They issued a “hold” rating and a $62.00 target price for the company. JPMorgan Chase & Co. lowered their price target on TriNet Group from $75.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Finally, UBS Group dropped their price target on shares of TriNet Group from $69.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, TriNet Group presently has an average rating of “Reduce” and a consensus target price of $63.50.

About TriNet Group

TriNet Group, Inc is a leading professional employer organization (PEO) that offers integrated human capital management solutions to small and medium-size businesses. Through a bundled suite of services, TriNet manages payroll administration, employee benefits, workers’ compensation, risk mitigation and federal and state compliance. Its cloud-based platform provides clients with centralized access to HR tools, analytics and streamlined workforce management capabilities.

Founded in 1988 and headquartered in Dublin, California, TriNet has grown to support thousands of organizations across the United States.