Woodline Partners LP Takes $4.18 Million Position in TriNet Group, Inc. (NYSE:TNET)

Woodline Partners LP acquired a new stake in TriNet Group, Inc. (NYSE:TNET) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 46,078 shares of the business services provider’s stock, valued at approximately $4,182,000. Woodline Partners LP owned approximately 0.09% of TriNet Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in TriNet Group by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 2,992,008 shares of the business services provider’s stock worth $271,585,000 after purchasing an additional 36,216 shares in the last quarter. Bank of New York Mellon Corp grew its stake in TriNet Group by 82.7% during the 4th quarter. Bank of New York Mellon Corp now owns 222,458 shares of the business services provider’s stock worth $20,193,000 after purchasing an additional 100,728 shares in the last quarter. IFP Advisors Inc grew its stake in TriNet Group by 45.5% during the 4th quarter. IFP Advisors Inc now owns 767 shares of the business services provider’s stock worth $71,000 after purchasing an additional 240 shares in the last quarter. Barclays PLC grew its stake in TriNet Group by 201.0% during the 3rd quarter. Barclays PLC now owns 94,649 shares of the business services provider’s stock worth $9,179,000 after purchasing an additional 63,201 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC grew its stake in TriNet Group by 246.6% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 10,190 shares of the business services provider’s stock worth $925,000 after purchasing an additional 7,250 shares in the last quarter. 96.81% of the stock is owned by institutional investors and hedge funds.

TriNet Group Stock Down 0.7%

Shares of NYSE TNET opened at $81.24 on Friday. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 23.76 and a beta of 0.91. The company has a debt-to-equity ratio of 13.16, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50-day moving average of $79.30 and a two-hundred day moving average of $84.71. TriNet Group, Inc. has a 1 year low of $65.43 and a 1 year high of $116.26.

TriNet Group (NYSE:TNET) last posted its earnings results on Friday, April 25th. The business services provider reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.32. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $319.36 million. During the same period in the previous year, the business earned $2.18 EPS. On average, analysts forecast that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were issued a $0.275 dividend. This is an increase from TriNet Group’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Tuesday, April 1st. TriNet Group’s payout ratio is presently 32.84%.

Analyst Ratings Changes

A number of brokerages have issued reports on TNET. Needham & Company LLC reaffirmed a “hold” rating on shares of TriNet Group in a report on Thursday, March 13th. TD Cowen downgraded TriNet Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $104.00 to $74.00 in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their price target on TriNet Group from $75.00 to $76.00 and gave the stock an “underweight” rating in a report on Monday, April 28th.

Insider Activity

In other news, SVP Sidney A. Majalya sold 500 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $83.14, for a total value of $41,570.00. Following the completion of the sale, the senior vice president now directly owns 23,033 shares of the company’s stock, valued at approximately $1,914,963.62. The trade was a 2.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 600 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $41,616.00. Following the completion of the sale, the director now directly owns 36,991 shares of the company’s stock, valued at $2,565,695.76. The trade was a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,647 shares of company stock valued at $193,623. Insiders own 38.10% of the company’s stock.

About TriNet Group

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.