TriNet Group (NYSE:TNET) Sets New 12-Month Low – Here’s What Happened

TriNet Group, Inc. (NYSE:TNET) reached a new 52-week low on Tuesday . The stock traded as low as $57.24 and last traded at $56.9050, with a volume of 616532 shares changing hands. The stock had previously closed at $60.02.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TNET. JPMorgan Chase & Co. reduced their price target on TriNet Group from $75.00 to $65.00 and set an “underweight” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of TriNet Group in a report on Wednesday, October 8th. Finally, UBS Group lowered their price target on shares of TriNet Group from $69.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $67.33.

TriNet Group Stock Performance

The firm has a market capitalization of $2.78 billion, a PE ratio of 21.34 and a beta of 0.79. The company has a debt-to-equity ratio of 8.36, a quick ratio of 1.10 and a current ratio of 1.10. The business’s fifty day simple moving average is $66.03 and its 200-day simple moving average is $71.42.

TriNet Group (NYSE:TNET) last issued its earnings results on Wednesday, October 29th. The business services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.39. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $261.92 million. TriNet Group had a net margin of 2.64% and a return on equity of 232.60%. TriNet Group’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. As a group, equities research analysts expect that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Wednesday, October 1st were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, October 1st. TriNet Group’s payout ratio is currently 40.59%.

Insider Activity

In related news, SVP Anthony Shea Treadway sold 2,583 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $66.07, for a total value of $170,658.81. Following the completion of the transaction, the senior vice president owned 29,437 shares of the company’s stock, valued at approximately $1,944,902.59. This trade represents a 8.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 600 shares of TriNet Group stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $64.18, for a total value of $38,508.00. Following the completion of the transaction, the director owned 38,440 shares of the company’s stock, valued at approximately $2,467,079.20. This represents a 1.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 9,170 shares of company stock worth $611,708. 38.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TriNet Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of TriNet Group by 106.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 445 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 229 shares during the last quarter. Hilltop National Bank purchased a new position in TriNet Group during the second quarter worth $43,000. CWM LLC increased its position in TriNet Group by 140.5% during the second quarter. CWM LLC now owns 582 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 340 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of TriNet Group in the third quarter valued at $46,000. Finally, Covestor Ltd lifted its holdings in shares of TriNet Group by 402.7% in the 3rd quarter. Covestor Ltd now owns 1,282 shares of the business services provider’s stock worth $86,000 after acquiring an additional 1,027 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

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.