DekaBank Deutsche Girozentrale Cuts Stake in TriNet Group, Inc. $TNET

DekaBank Deutsche Girozentrale reduced its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 13.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 33,743 shares of the business services provider’s stock after selling 5,353 shares during the period. DekaBank Deutsche Girozentrale’s holdings in TriNet Group were worth $2,417,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Hilltop National Bank acquired a new position in TriNet Group in the second quarter worth $43,000. CWM LLC boosted its holdings in shares of TriNet Group by 140.5% during the second quarter. CWM LLC now owns 582 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 340 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of TriNet Group by 58.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,291 shares of the business services provider’s stock valued at $182,000 after acquiring an additional 845 shares during the period. AlphaQuest LLC boosted its holdings in shares of TriNet Group by 633.5% during the first quarter. AlphaQuest LLC now owns 2,472 shares of the business services provider’s stock valued at $196,000 after acquiring an additional 2,135 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of TriNet Group during the first quarter valued at $206,000. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TNET. JPMorgan Chase & Co. reduced their price target on shares of TriNet Group from $76.00 to $75.00 and set an “underweight” rating for the company in a report on Monday, July 28th. Weiss Ratings reiterated a “sell (d+)” rating on shares of TriNet Group in a research report on Friday. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, TriNet Group currently has a consensus rating of “Reduce” and a consensus target price of $96.33.

TriNet Group Stock Up 1.0%

TNET opened at $63.34 on Friday. TriNet Group, Inc. has a 1-year low of $57.83 and a 1-year high of $98.51. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 8.36. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 21.77 and a beta of 0.79. The business has a 50 day moving average of $66.77 and a 200-day moving average of $72.23.

TriNet Group (NYSE:TNET) last issued its earnings results on Friday, July 25th. The business services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.03 by $0.12. TriNet Group had a return on equity of 208.35% and a net margin of 2.85%.The firm had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $278.93 million. During the same period last year, the business earned $1.53 earnings per share. As a group, sell-side analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Wednesday, October 1st will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 1st. TriNet Group’s payout ratio is currently 37.80%.

Insiders Place Their Bets

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,437 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.80, for a total transaction of $98,865.60. Following the transaction, the chief technology officer owned 30,424 shares in the company, valued at approximately $2,093,171.20. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 600 shares of TriNet Group stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $64.18, for a total value of $38,508.00. Following the transaction, the director owned 38,440 shares in the company, valued at $2,467,079.20. This trade represents a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,170 shares of company stock valued at $611,708 over the last three months. Company insiders own 38.10% of the company’s stock.

TriNet Group 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.