Chase Investment Counsel Corp Purchases 5,000 Shares of TriNet Group, Inc. (NYSE:TNET)

Chase Investment Counsel Corp increased its position in TriNet Group, Inc. (NYSE:TNET) by 59.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,400 shares of the business services provider’s stock after buying an additional 5,000 shares during the quarter. Chase Investment Counsel Corp’s holdings in TriNet Group were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of TNET. Rothschild Investment LLC bought a new position in shares of TriNet Group during the second quarter worth about $45,000. Blue Trust Inc. grew its holdings in TriNet Group by 24.9% during the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock worth $52,000 after acquiring an additional 104 shares during the period. LRI Investments LLC bought a new stake in TriNet Group in the first quarter worth approximately $81,000. Avion Wealth lifted its position in shares of TriNet Group by 19.2% during the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider’s stock valued at $80,000 after acquiring an additional 129 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in TriNet Group in the second quarter worth $93,000. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total transaction of $32,336.25. Following the sale, the director now directly owns 37,591 shares in the company, valued at approximately $3,241,471.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total transaction of $482,161.68. Following the completion of the transaction, the chief financial officer now owns 82,409 shares in the company, valued at approximately $8,484,830.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $86.23, for a total value of $32,336.25. Following the completion of the sale, the director now owns 37,591 shares in the company, valued at $3,241,471.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by insiders.

TriNet Group Trading Down 0.5 %

NYSE TNET opened at $95.82 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 7.70. The business has a fifty day simple moving average of $94.00 and a 200 day simple moving average of $99.37. TriNet Group, Inc. has a 12 month low of $74.32 and a 12 month high of $134.67. The firm has a market capitalization of $4.75 billion, a P/E ratio of 18.46 and a beta of 1.20.

TriNet Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Tuesday, October 1st. TriNet Group’s payout ratio is currently 19.27%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TNET shares. TD Cowen cut their price objective on shares of TriNet Group from $110.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. restated an “underweight” rating and set a $103.00 price objective on shares of TriNet Group in a report on Tuesday, October 22nd. Finally, Needham & Company LLC downgraded shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price target for the company. in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $114.00.

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.