TriNet Group, Inc. (NYSE:TNET) to Issue Dividend Increase – $0.28 Per Share

TriNet Group, Inc. (NYSE:TNET) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Shareholders of record on Tuesday, April 1st will be paid a dividend of 0.275 per share by the business services provider on Monday, April 28th. This represents a $1.10 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a 10.0% increase from TriNet Group’s previous quarterly dividend of $0.25.

TriNet Group has a dividend payout ratio of 20.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect TriNet Group to earn $3.50 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 28.6%.

TriNet Group Stock Performance

NYSE:TNET opened at $76.67 on Friday. The firm’s fifty day simple moving average is $82.68 and its 200-day simple moving average is $89.48. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 13.16. The stock has a market cap of $3.80 billion, a PE ratio of 22.42 and a beta of 1.26. TriNet Group has a fifty-two week low of $65.43 and a fifty-two week high of $134.67.

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 company had revenue of $252.00 million for the quarter, compared to analyst estimates of $225.72 million. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. Analysts expect that TriNet Group will post 3.04 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Jeffery Jon Hayward sold 7,784 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $89.57, for a total value of $697,212.88. Following the sale, the chief technology officer now directly owns 21,769 shares of the company’s stock, valued at approximately $1,949,849.33. This trade represents a 26.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $41,616.00. Following the transaction, the director now directly owns 36,991 shares of the company’s stock, valued at $2,565,695.76. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,748 shares of company stock valued at $833,436 over the last 90 days. Insiders own 37.10% of the company’s stock.

Wall Street Analyst Weigh In

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

About TriNet Group

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.