KLP Kapitalforvaltning AS Buys Shares of 10,000 TriNet Group, Inc. (NYSE:TNET)

KLP Kapitalforvaltning AS acquired a new position in TriNet Group, Inc. (NYSE:TNET - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,000 shares of the business services provider's stock, valued at approximately $908,000.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of TriNet Group by 11.4% during the third quarter. JPMorgan Chase & Co. now owns 385,335 shares of the business services provider's stock worth $37,366,000 after acquiring an additional 39,351 shares during the last quarter. Simcoe Capital Management LLC acquired a new position in TriNet Group during the 3rd quarter valued at about $16,966,000. Tidal Investments LLC boosted its stake in shares of TriNet Group by 5.4% in the 3rd 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 during the last quarter. Wellington Management Group LLP boosted its stake in shares of TriNet Group by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,321,737 shares of the business services provider's stock valued at $128,169,000 after purchasing an additional 184,186 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of TriNet Group by 4.2% during the 4th quarter. Nordea Investment Management AB now owns 160,991 shares of the business services provider's stock worth $14,732,000 after buying an additional 6,420 shares during the period. Institutional investors own 96.81% of the company's stock.

Insider Transactions at TriNet Group

In other news, Director Paul Edward Chamberlain sold 600 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was 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 of the company's stock, valued at approximately $2,565,695.76. This represents a 1.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the business's stock in a transaction on 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 owns 19,867 shares in the company, valued at approximately $1,377,975.12. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,748 shares of company stock worth $833,436 in the last three months. Insiders own 37.10% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on TNET. Needham & Company LLC reaffirmed a "hold" rating on shares of TriNet Group in a report on Thursday, March 13th. TD Cowen cut TriNet Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $104.00 to $74.00 in a research note on Tuesday, February 18th.

TriNet Group Stock Down 4.7 %

Shares of TNET stock traded down $3.59 during trading hours on Friday, hitting $73.60. 530,936 shares of the company were exchanged, compared to its average volume of 368,172. The company has a market capitalization of $3.65 billion, a PE ratio of 21.52 and a beta of 1.26. TriNet Group, Inc. has a 52 week low of $65.43 and a 52 week high of $131.27. The business has a 50 day moving average of $79.89 and a two-hundred day moving average of $88.18. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16.

TriNet Group (NYSE:TNET - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. The company had revenue of $252.00 million during the quarter, compared to analysts' expectations of $225.72 million. Analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Increases Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, April 1st. This is a boost from TriNet Group's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 1.49%. TriNet Group's payout ratio is 32.16%.

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.