Baxter Bros Inc. Lowers Stock Position in TriNet Group, Inc. (NYSE:TNET)

Baxter Bros Inc. trimmed its stake in TriNet Group, Inc. (NYSE:TNET) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 18,765 shares of the business services provider’s stock after selling 135 shares during the period. Baxter Bros Inc.’s holdings in TriNet Group were worth $1,703,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in TriNet Group by 11.4% in the third quarter. JPMorgan Chase & Co. now owns 385,335 shares of the business services provider’s stock valued at $37,366,000 after purchasing an additional 39,351 shares during the period. Simcoe Capital Management LLC acquired a new position in TriNet Group during the 3rd quarter worth about $16,966,000. Tidal Investments LLC grew its holdings in shares of TriNet Group by 5.4% in the third quarter. Tidal Investments LLC now owns 5,121 shares of the business services provider’s stock valued at $495,000 after purchasing an additional 263 shares in the last quarter. Wellington Management Group LLP lifted its holdings in TriNet Group by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,321,737 shares of the business services provider’s stock worth $128,169,000 after buying an additional 184,186 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in TriNet Group by 4.2% in the 4th quarter. Nordea Investment Management AB now owns 160,991 shares of the business services provider’s stock valued at $14,732,000 after buying an additional 6,420 shares during the period. 96.81% of the stock is currently owned by institutional investors and hedge funds.

TriNet Group Price Performance

Shares of NYSE:TNET opened at $79.92 on Tuesday. TriNet Group, Inc. has a 12 month low of $65.43 and a 12 month high of $134.67. The firm has a market capitalization of $3.96 billion, a P/E ratio of 23.37 and a beta of 1.26. 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 company’s fifty day moving average price is $82.44 and its 200 day moving average price is $89.22.

TriNet Group (NYSE:TNET) last posted its earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $252.00 million during the quarter, compared to the consensus estimate of $225.72 million. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. As a group, sell-side analysts predict 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 will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.38%. This is a boost from TriNet Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, April 1st. TriNet Group’s dividend payout ratio (DPR) is presently 32.16%.

Insider Buying and Selling at TriNet Group

In other news, Director Paul Edward Chamberlain sold 600 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $41,616.00. Following the completion of the sale, the director now owns 36,991 shares in the company, valued at approximately $2,565,695.76. This trade represents a 1.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the stock in a transaction dated 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 directly owns 19,867 shares of the company’s stock, valued at $1,377,975.12. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,748 shares of company stock worth $833,436. 37.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on TNET shares. Needham & Company LLC reissued a “hold” rating on shares of TriNet Group in a research note on Thursday, March 13th. TD Cowen downgraded TriNet Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $104.00 to $74.00 in a report on Tuesday, February 18th.

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.