Man Group plc Sells 145,194 Shares of TriNet Group, Inc. (NYSE:TNET)

Man Group plc cut its stake in TriNet Group, Inc. (NYSE:TNET) by 80.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,994 shares of the business services provider’s stock after selling 145,194 shares during the period. Man Group plc owned approximately 0.07% of TriNet Group worth $3,176,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TNET. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of TriNet Group by 2.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,190 shares of the business services provider’s stock valued at $1,651,000 after buying an additional 502 shares in the last quarter. LRI Investments LLC raised its stake in shares of TriNet Group by 643.8% in the 4th quarter. LRI Investments LLC now owns 662 shares of the business services provider’s stock valued at $60,000 after buying an additional 573 shares in the last quarter. LRT Capital Management LLC raised its stake in shares of TriNet Group by 95.9% in the 4th quarter. LRT Capital Management LLC now owns 20,512 shares of the business services provider’s stock valued at $1,862,000 after buying an additional 10,039 shares in the last quarter. Deutsche Bank AG raised its stake in shares of TriNet Group by 49.4% in the 4th quarter. Deutsche Bank AG now owns 29,122 shares of the business services provider’s stock valued at $2,643,000 after buying an additional 9,627 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of TriNet Group by 4.7% in the 4th quarter. Bank of America Corp DE now owns 184,032 shares of the business services provider’s stock valued at $16,705,000 after buying an additional 8,299 shares in the last quarter. 96.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

TriNet Group Trading Down 1.5%

Shares of TriNet Group stock opened at $81.85 on Friday. The stock has a market capitalization of $3.96 billion, a P/E ratio of 23.93 and a beta of 0.91. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 13.16. The company has a 50-day simple moving average of $79.27 and a 200 day simple moving average of $84.79. TriNet Group, Inc. has a 12-month low of $65.43 and a 12-month high of $116.26.

TriNet Group (NYSE:TNET) last announced its earnings results on Friday, April 25th. The business services provider reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.32. The business had revenue of $1.29 billion during 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 last year, the company posted $2.18 EPS. Research 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 disclosed a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.34%. The ex-dividend date was Tuesday, April 1st. This is a boost from TriNet Group’s previous quarterly dividend of $0.25. TriNet Group’s dividend payout ratio (DPR) is presently 32.84%.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,364 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 600 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 36,991 shares in the company, valued at $2,565,695.76. This trade represents a 1.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,147 shares of company stock worth $152,053. 38.10% of the stock is currently owned by corporate insiders.

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.