Quantbot Technologies LP Sells 1,619 Shares of TriNet Group, Inc. (NYSE:TNET)

Quantbot Technologies LP lowered its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 4.3% during the third quarter, HoldingsChannel reports. The firm owned 35,759 shares of the business services provider’s stock after selling 1,619 shares during the quarter. Quantbot Technologies LP’s holdings in TriNet Group were worth $3,468,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. grew its position in shares of TriNet Group by 24.9% in the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 104 shares during the period. Avion Wealth grew its holdings in TriNet Group by 19.2% during the second quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after purchasing an additional 129 shares during the period. SummerHaven Investment Management LLC lifted its position in shares of TriNet Group by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 8,222 shares of the business services provider’s stock valued at $822,000 after buying an additional 142 shares during the last quarter. Linden Thomas Advisory Services LLC increased its holdings in shares of TriNet Group by 2.2% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 7,163 shares of the business services provider’s stock worth $716,000 after acquiring an additional 156 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in TriNet Group by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 9,203 shares of the business services provider’s stock valued at $920,000 after acquiring an additional 180 shares during the period. Institutional investors and hedge funds own 96.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TNET. TD Cowen raised their target price on shares of TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Needham & Company LLC downgraded shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $103.00 target price on shares of TriNet Group in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, TriNet Group presently has an average rating of “Hold” and a consensus target price of $117.00.

TriNet Group Stock Performance

Shares of NYSE:TNET opened at $92.90 on Thursday. TriNet Group, Inc. has a 12-month low of $74.32 and a 12-month high of $134.67. The company’s 50 day moving average price is $93.15 and its two-hundred day moving average price is $98.59. The firm has a market cap of $4.61 billion, a PE ratio of 17.90 and a beta of 1.20. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 7.70.

TriNet Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Tuesday, October 1st. TriNet Group’s payout ratio is currently 19.27%.

Insider Buying and Selling at TriNet Group

In other news, CTO Jeffery Jon Hayward sold 1,813 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $92.74, for a total transaction of $168,137.62. Following the completion of the transaction, the chief technology officer now directly owns 36,951 shares in the company, valued at approximately $3,426,835.74. This represents a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of TriNet Group 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 sale, the director now directly owns 37,591 shares in the company, valued at $3,241,471.93. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 37.10% of the company’s stock.

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.