Comerica Bank Purchases 2,843 Shares of TriNet Group, Inc. (NYSE:TNET)

Comerica Bank boosted its position in shares of TriNet Group, Inc. (NYSE:TNET) by 14.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,477 shares of the business services provider’s stock after buying an additional 2,843 shares during the quarter. Comerica Bank’s holdings in TriNet Group were worth $2,040,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in shares of TriNet Group by 45.5% during the fourth quarter. IFP Advisors Inc now owns 767 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 240 shares during the last quarter. Avion Wealth raised its position in TriNet Group by 14.9% during the 4th quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock valued at $98,000 after purchasing an additional 140 shares during the last quarter. KBC Group NV lifted its holdings in TriNet Group by 43.7% in the 4th quarter. KBC Group NV now owns 1,365 shares of the business services provider’s stock worth $124,000 after buying an additional 415 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of TriNet Group by 118.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,446 shares of the business services provider’s stock valued at $131,000 after buying an additional 785 shares during the period. Finally, Xponance Inc. raised its holdings in shares of TriNet Group by 17.8% during the fourth quarter. Xponance Inc. now owns 2,456 shares of the business services provider’s stock valued at $223,000 after acquiring an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Insider Activity

In related news, Director Paul Edward Chamberlain sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $41,616.00. Following the completion of the sale, the director now owns 36,991 shares of the company’s stock, valued at $2,565,695.76. This trade 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 at the SEC website. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $94,607.04. Following the completion of the transaction, the chief technology officer now directly owns 19,867 shares in the company, valued at $1,377,975.12. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 37.10% of the company’s stock.

Analysts Set New Price Targets

TNET has been the topic of a number of research analyst reports. TD Cowen downgraded shares of TriNet Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $104.00 to $74.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. increased their price target on shares of TriNet Group from $75.00 to $76.00 and gave the stock an “underweight” rating in a research note on Monday, April 28th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of TriNet Group in a research report on Thursday, March 13th.

TriNet Group Stock Down 0.2 %

NYSE:TNET opened at $82.02 on Friday. 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 firm’s 50-day moving average price is $77.46 and its 200-day moving average price is $84.85. The company has a market capitalization of $3.97 billion, a PE ratio of 23.98 and a beta of 0.91. TriNet Group, Inc. has a 1-year low of $65.43 and a 1-year high of $116.26.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Friday, April 25th. The business services provider reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.32. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $319.36 million. During the same quarter in the prior year, the company earned $2.18 earnings per share. On average, equities analysts predict that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were paid a $0.275 dividend. This is a boost from TriNet Group’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Tuesday, April 1st. TriNet Group’s dividend payout ratio is currently 32.84%.

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.