Jupiter Topco LLC acquired a new stake in TriNet Group, Inc. (NYSE:TNET – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 245,454 shares of the business services provider’s stock, valued at approximately $12,148,000. Jupiter Topco LLC owned 0.53% of TriNet Group as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Quarry LP raised its holdings in shares of TriNet Group by 524.7% during the third quarter. Quarry LP now owns 456 shares of the business services provider’s stock worth $31,000 after acquiring an additional 383 shares during the period. Aster Capital Management DIFC Ltd bought a new position in TriNet Group during the 4th quarter worth about $28,000. Caitong International Asset Management Co. Ltd increased its holdings in TriNet Group by 160.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 479 shares of the business services provider’s stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Essential Partners LLC raised its stake in shares of TriNet Group by 427.4% in the 1st quarter. Essential Partners LLC now owns 944 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 765 shares during the period. Finally, Cache Advisors LLC acquired a new stake in shares of TriNet Group in the 1st quarter valued at about $36,000. 96.81% of the stock is owned by institutional investors.
TriNet Group Price Performance
Shares of NYSE TNET opened at $70.60 on Friday. The company has a debt-to-equity ratio of 7.17, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50-day moving average of $61.73 and a 200-day moving average of $48.15. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 18.88 and a beta of 0.95. TriNet Group, Inc. has a fifty-two week low of $33.60 and a fifty-two week high of $73.07.
TriNet Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.29 per share. The ex-dividend date was Wednesday, July 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.6%. TriNet Group’s dividend payout ratio is currently 31.02%.
Analysts Set New Price Targets
Several research firms have recently weighed in on TNET. JPMorgan Chase & Co. upped 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. Zacks Research lowered TriNet Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 3rd. Truist Financial upped their price target on TriNet Group from $50.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. UBS Group reduced their price target on TriNet Group from $62.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Finally, TD Cowen lifted their price objective on shares of TriNet Group from $46.00 to $49.00 and gave the company a “hold” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, TriNet Group has an average rating of “Hold” and a consensus price target of $56.80.
Check Out Our Latest Stock Analysis on TNET
Insider Activity
In related news, SVP Sidney A. Majalya sold 775 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $68.53, for a total transaction of $53,110.75. Following the transaction, the senior vice president directly owned 53,212 shares in the company, valued at approximately $3,646,618.36. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anthony Shea Treadway sold 1,068 shares of the company’s stock in a transaction 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 sale, the senior vice president directly owned 65,506 shares in the company, valued at $4,572,318.80. This trade represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 7,616 shares of company stock valued at $524,320. 40.00% of the stock is owned by insiders.
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.
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