Massachusetts Financial Services Co. MA Boosts Stock Position in TriNet Group, Inc. $TNET

Massachusetts Financial Services Co. MA boosted its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 19.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,353,004 shares of the business services provider’s stock after buying an additional 387,940 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in TriNet Group were worth $157,392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hilltop National Bank purchased a new stake in TriNet Group in the second quarter valued at about $43,000. CWM LLC increased its holdings in shares of 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 in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of TriNet Group in the 3rd quarter valued at approximately $46,000. State of Alaska Department of Revenue acquired a new stake in TriNet Group in the 3rd quarter worth approximately $188,000. Finally, PNC Financial Services Group Inc. grew its position in TriNet Group by 26.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,905 shares of the business services provider’s stock worth $212,000 after purchasing an additional 614 shares during the last quarter. 96.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TriNet Group

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,437 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $57.51, for a total transaction of $82,641.87. Following the sale, the chief technology officer directly owned 27,922 shares in the company, valued at $1,605,794.22. This represents a 4.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Edward Chamberlain sold 600 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $57.81, for a total transaction of $34,686.00. Following the completion of the transaction, the director owned 37,840 shares of the company’s stock, valued at approximately $2,187,530.40. This trade represents a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,398 shares of company stock worth $197,279 in the last 90 days. Insiders own 37.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Zacks Research downgraded shares of TriNet Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Truist Financial started coverage on TriNet Group in a research report on Friday, December 5th. They set a “hold” rating and a $62.00 price target for the company. UBS Group cut their price objective on TriNet Group from $69.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. JPMorgan Chase & Co. decreased their target price on TriNet Group from $75.00 to $65.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Finally, TD Cowen cut their price target on shares of TriNet Group from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, January 8th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, TriNet Group has a consensus rating of “Reduce” and an average target price of $63.50.

TriNet Group Price Performance

Shares of TriNet Group stock opened at $62.73 on Tuesday. The business has a 50 day simple moving average of $58.66 and a two-hundred day simple moving average of $63.31. The company has a debt-to-equity ratio of 8.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $3.01 billion, a P/E ratio of 23.15 and a beta of 0.82. TriNet Group, Inc. has a 12 month low of $54.22 and a 12 month high of $97.02.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Wednesday, October 29th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.39. TriNet Group had a net margin of 2.64% and a return on equity of 212.38%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $261.92 million. During the same quarter in the prior year, the company earned $1.17 EPS. TriNet Group’s revenue was down 1.6% compared to the same quarter last year. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. As a group, analysts predict that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Friday, January 2nd will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, January 2nd. TriNet Group’s payout ratio is currently 40.59%.

About TriNet Group

TriNet Group, Inc is a leading professional employer organization (PEO) that offers integrated human capital management solutions to small and medium-size businesses. Through a bundled suite of services, TriNet manages payroll administration, employee benefits, workers’ compensation, risk mitigation and federal and state compliance. Its cloud-based platform provides clients with centralized access to HR tools, analytics and streamlined workforce management capabilities.

Founded in 1988 and headquartered in Dublin, California, TriNet has grown to support thousands of organizations across the United States.