Bayforest Capital Ltd Boosts Stake in TriNet Group, Inc. $TNET

Bayforest Capital Ltd raised its position in TriNet Group, Inc. (NYSE:TNET) by 30.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 16,991 shares of the business services provider’s stock after acquiring an additional 3,990 shares during the quarter. TriNet Group makes up approximately 0.5% of Bayforest Capital Ltd’s portfolio, making the stock its 12th biggest position. Bayforest Capital Ltd’s holdings in TriNet Group were worth $1,243,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. increased its stake in shares of TriNet Group by 183.3% during the first quarter. American Century Companies Inc. now owns 858,205 shares of the business services provider’s stock worth $68,004,000 after purchasing an additional 555,258 shares in the last quarter. Wellington Management Group LLP increased its position in TriNet Group by 24.3% during the first quarter. Wellington Management Group LLP now owns 2,021,749 shares of the business services provider’s stock worth $160,203,000 after purchasing an additional 394,847 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in TriNet Group by 90.1% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 648,630 shares of the business services provider’s stock valued at $47,441,000 after buying an additional 307,440 shares in the last quarter. Nuveen LLC bought a new stake in shares of TriNet Group in the first quarter worth $18,315,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of TriNet Group by 11.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,123,201 shares of the business services provider’s stock worth $168,242,000 after acquiring an additional 225,196 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Insider Transactions at TriNet Group

In other news, Director Paul Edward Chamberlain sold 600 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $64.18, for a total transaction of $38,508.00. Following the transaction, the director directly owned 38,440 shares in the company, valued at $2,467,079.20. The trade was a 1.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ralph A. Clark sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $66.42, for a total transaction of $199,260.00. Following the completion of the transaction, the director owned 9,390 shares of the company’s stock, valued at approximately $623,683.80. This trade represents a 24.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,170 shares of company stock worth $611,708 in the last three months. 37.10% of the stock is owned by corporate insiders.

TriNet Group Price Performance

TNET opened at $62.53 on Tuesday. TriNet Group, Inc. has a 12-month low of $61.26 and a 12-month high of $99.78. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 8.36. The stock has a 50-day moving average price of $67.24 and a 200-day moving average price of $73.10. The stock has a market capitalization of $3.04 billion, a P/E ratio of 21.49 and a beta of 0.79.

TriNet Group (NYSE:TNET) last announced its earnings results on Friday, July 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.12. The firm had revenue of $282.90 million during the quarter, compared to analyst estimates of $278.93 million. TriNet Group had a return on equity of 208.35% and a net margin of 2.85%.During the same quarter in the prior year, the company earned $1.53 EPS. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. Equities analysts predict that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 1st. TriNet Group’s dividend payout ratio (DPR) is currently 37.80%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TNET shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of TriNet Group in a report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price objective on TriNet Group from $76.00 to $75.00 and set an “underweight” rating for the company in a research report on Monday, July 28th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, TriNet Group currently has an average rating of “Reduce” and an average price target of $96.33.

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.