Leuthold Group LLC Makes New Investment in TriNet Group, Inc. $TNET

Leuthold Group LLC purchased a new stake in TriNet Group, Inc. (NYSE:TNET) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 65,916 shares of the business services provider’s stock, valued at approximately $4,122,000.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of TriNet Group by 4.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,008 shares of the business services provider’s stock valued at $1,168,000 after acquiring an additional 703 shares during the period. Ethic Inc. bought a new stake in TriNet Group during the 3rd quarter worth approximately $249,000. Eiger Wealth Management LLC bought a new stake in TriNet Group during the 3rd quarter worth approximately $221,000. Pictet Asset Management Holding SA increased its holdings in TriNet Group by 5.0% during the 3rd quarter. Pictet Asset Management Holding SA now owns 4,628 shares of the business services provider’s stock worth $289,000 after acquiring an additional 221 shares during the period. Finally, Parallel Advisors LLC lifted its stake in TriNet Group by 77.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,601 shares of the business services provider’s stock worth $100,000 after purchasing an additional 697 shares in the last quarter. 96.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TNET has been the subject of several analyst reports. Truist Financial raised their price target on shares of TriNet Group from $50.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Weiss Ratings raised shares of TriNet Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 9th. JPMorgan Chase & Co. increased their price objective on TriNet Group from $45.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, July 31st. Needham & Company LLC set a $65.00 price objective on TriNet Group in a research note on Friday, October 30th. Finally, TD Cowen reduced their target price on TriNet Group from $66.00 to $65.00 and set a “hold” rating for the company in a research report on Friday, October 30th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, TriNet Group has a consensus rating of “Hold” and an average target price of $60.83.

TriNet Group Stock Down 3.3%

Shares of NYSE:TNET opened at $64.46 on Tuesday. The firm has a market capitalization of $2.95 billion, a PE ratio of 17.47 and a beta of 0.98. The company has a debt-to-equity ratio of 6.74, a quick ratio of 1.14 and a current ratio of 1.14. TriNet Group, Inc. has a 52-week low of $33.60 and a 52-week high of $76.59. The firm has a fifty day moving average of $67.23 and a 200 day moving average of $53.71.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Thursday, October 29th. The business services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.34. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. TriNet Group had a return on equity of 202.90% and a net margin of 3.56%. TriNet Group’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the firm posted $1.11 EPS. As a group, research analysts anticipate that TriNet Group, Inc. will post 3.95 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Thursday, October 1st were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, October 1st. TriNet Group’s dividend payout ratio is 31.44%.

Insider Activity

In related news, SVP Anthony Shea Treadway sold 1,068 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $69.80, for a total transaction of $74,546.40. Following the completion of the transaction, the senior vice president owned 65,506 shares in the company, valued at $4,572,318.80. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Sidney A. Majalya sold 775 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $68.53, for a total value of $53,110.75. Following the completion of the sale, the senior vice president directly owned 53,212 shares of the company’s stock, valued at $3,646,618.36. The trade was a 1.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 4,243 shares of company stock valued at $294,937. Insiders own 40.00% of the company’s stock.

TriNet Group Company Profile

TriNet Group, Inc provides human resources solutions to small and midsize businesses in the United States. Through a professional employer organization (PEO) model, the company helps clients manage employment-related administration and access services that may otherwise be difficult to provide in-house.

Its offerings include payroll processing and tax administration, employee benefits, workers’ compensation and risk management, and support with employment-related compliance. TriNet also provides HR technology and guidance intended to help businesses manage employee information and workplace processes.

Founded in 1988, TriNet serves businesses across a range of industries.