D. E. Shaw & Co. Inc. Trims Position in TriNet Group, Inc. (NYSE:TNET)

D. E. Shaw & Co. Inc. lowered its position in TriNet Group, Inc. (NYSE:TNET) by 40.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 137,682 shares of the business services provider’s stock after selling 93,951 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in TriNet Group were worth $12,497,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of TNET. Bank of America Corp DE boosted its stake in shares of TriNet Group by 4.7% in the fourth quarter. Bank of America Corp DE now owns 184,032 shares of the business services provider’s stock worth $16,705,000 after acquiring an additional 8,299 shares during the period. BNP Paribas Financial Markets boosted its stake in TriNet Group by 42.6% in the 4th quarter. BNP Paribas Financial Markets now owns 60,091 shares of the business services provider’s stock worth $5,454,000 after purchasing an additional 17,945 shares during the period. Ameriprise Financial Inc. boosted its stake in TriNet Group by 239.3% in the 4th quarter. Ameriprise Financial Inc. now owns 22,914 shares of the business services provider’s stock worth $2,080,000 after purchasing an additional 16,160 shares during the period. ArrowMark Colorado Holdings LLC purchased a new stake in TriNet Group during the 4th quarter valued at approximately $35,567,000. Finally, Comerica Bank raised its position in shares of TriNet Group by 14.5% during the fourth quarter. Comerica Bank now owns 22,477 shares of the business services provider’s stock valued at $2,040,000 after buying an additional 2,843 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of TriNet Group in a research report on Thursday, March 13th. TD Cowen downgraded shares of TriNet Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $104.00 to $74.00 in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their target price on TriNet Group from $75.00 to $76.00 and gave the stock an “underweight” rating in a report on Monday, April 28th.

TriNet Group Stock Down 0.3%

Shares of TNET opened at $84.23 on Wednesday. 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 stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 24.63 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. The business’s 50 day simple moving average is $77.84 and its 200-day simple moving average is $84.77.

TriNet Group (NYSE:TNET) last released its quarterly earnings results on Friday, April 25th. The business services provider reported $1.99 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $319.36 million. During the same quarter in the prior year, the firm earned $2.18 earnings per share. As a group, equities analysts expect that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal 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 given a $0.275 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $1.10 annualized dividend and a yield of 1.31%. This is a positive change from TriNet Group’s previous quarterly dividend of $0.25. TriNet Group’s dividend payout ratio (DPR) is currently 32.84%.

TriNet Group Company 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.