Norges Bank Buys New Shares in TriNet Group, Inc. (NYSE:TNET)

Norges Bank acquired a new position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 150,486 shares of the business services provider's stock, valued at approximately $13,660,000. Norges Bank owned approximately 0.30% of TriNet Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Private Client Wealth LLC increased its position in shares of TriNet Group by 25.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 595 shares of the business services provider's stock valued at $58,000 after purchasing an additional 121 shares during the last quarter. IFP Advisors Inc lifted its stake in TriNet Group by 45.5% in the fourth quarter. IFP Advisors Inc now owns 767 shares of the business services provider's stock worth $71,000 after purchasing an additional 240 shares during the last quarter. Avion Wealth grew its stake in shares of TriNet Group by 14.9% during the fourth quarter. Avion Wealth now owns 1,081 shares of the business services provider's stock valued at $98,000 after buying an additional 140 shares during the last quarter. KBC Group NV grew its stake in shares of TriNet Group by 43.7% during the fourth quarter. KBC Group NV now owns 1,365 shares of the business services provider's stock valued at $124,000 after buying an additional 415 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of TriNet Group by 118.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,446 shares of the business services provider's stock worth $131,000 after buying an additional 785 shares during the period. 96.81% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other news, CTO Jeffery Jon Hayward sold 1,364 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 $94,607.04. Following the sale, the chief technology officer now directly owns 19,867 shares in the company, valued at approximately $1,377,975.12. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 600 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total value of $41,616.00. Following the sale, the director now directly owns 36,991 shares in the company, 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 have sold 9,748 shares of company stock worth $833,436 over the last three months. Company insiders own 37.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports 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 lowered TriNet Group from a "buy" rating to a "hold" rating and lowered their target price for the stock from $104.00 to $74.00 in a report on Tuesday, February 18th.

TriNet Group Price Performance

NYSE:TNET traded up $1.86 during trading hours on Friday, hitting $78.61. 289,151 shares of the stock were exchanged, compared to its average volume of 372,416. The firm's fifty day moving average price is $77.39 and its 200 day moving average price is $87.22. TriNet Group, Inc. has a 52-week low of $65.43 and a 52-week high of $131.26. The company has a market cap of $3.89 billion, a P/E ratio of 22.99 and a beta of 1.06. 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 results on Thursday, February 13th. The business services provider reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The firm had revenue of $252.00 million during the quarter, compared to analysts' expectations of $225.72 million. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. As a group, equities research analysts anticipate that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a $0.275 dividend. This is an increase from TriNet Group's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, April 1st. TriNet Group's payout ratio is currently 32.16%.

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.