Cubist Systematic Strategies LLC Sells 120,043 Shares of TriNet Group, Inc. (NYSE:TNET)

Cubist Systematic Strategies LLC reduced its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 81.7% during the fourth quarter, Holdings Channel reports. The fund owned 26,873 shares of the business services provider’s stock after selling 120,043 shares during the period. Cubist Systematic Strategies LLC’s holdings in TriNet Group were worth $2,439,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Avion Wealth grew its position in TriNet Group by 14.9% during the fourth quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock valued at $98,000 after acquiring an additional 140 shares during the last quarter. Summit Investment Advisors Inc. grew its position in TriNet Group by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,344 shares of the business services provider’s stock valued at $304,000 after acquiring an additional 149 shares during the last quarter. Franklin Resources Inc. grew its position in TriNet Group by 3.4% during the third quarter. Franklin Resources Inc. now owns 5,086 shares of the business services provider’s stock valued at $499,000 after acquiring an additional 169 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in TriNet Group by 2.6% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,731 shares of the business services provider’s stock valued at $702,000 after acquiring an additional 196 shares during the last quarter. Finally, IFP Advisors Inc grew its position in 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. 96.81% of the stock is currently owned by institutional investors.

Insider Activity at TriNet Group

In related news, Director Paul Edward Chamberlain sold 600 shares of TriNet Group stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $41,616.00. Following the sale, the director now owns 36,991 shares in the company, valued at $2,565,695.76. The trade was a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeffery Jon Hayward sold 1,364 shares of TriNet Group stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $94,607.04. Following the completion of the sale, the chief technology officer now owns 19,867 shares in the company, valued at approximately $1,377,975.12. This trade represents a 6.42% decrease in their position. The disclosure for this sale can be found here. 38.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

TriNet Group Stock Down 0.2%

Shares of TriNet Group stock opened at $82.02 on Monday. The company has a debt-to-equity ratio of 13.16, a quick ratio of 1.07 and a current ratio of 1.07. TriNet Group, Inc. has a 52-week low of $65.43 and a 52-week high of $116.26. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 23.98 and a beta of 0.91. The company’s 50 day moving average price is $77.46 and its 200-day moving average price is $84.74.

TriNet Group (NYSE:TNET) last released its quarterly 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. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $319.36 million. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. During the same quarter in the previous year, the business posted $2.18 earnings per share. Equities research analysts forecast that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group Increases Dividend

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

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.