Intech Investment Management LLC Makes New $817,000 Investment in TriNet Group, Inc. (NYSE:TNET)

Intech Investment Management LLC bought a new position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,424 shares of the business services provider's stock, valued at approximately $817,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quest Partners LLC boosted its holdings in shares of TriNet Group by 443.2% during the 3rd quarter. Quest Partners LLC now owns 8,083 shares of the business services provider's stock valued at $784,000 after purchasing an additional 6,595 shares during the last quarter. KBC Group NV boosted its stake in TriNet Group by 26.5% during the third quarter. KBC Group NV now owns 950 shares of the business services provider's stock valued at $92,000 after buying an additional 199 shares during the last quarter. GHE LLC grew its holdings in TriNet Group by 7.1% during the 3rd quarter. GHE LLC now owns 28,474 shares of the business services provider's stock valued at $2,579,000 after buying an additional 1,880 shares in the last quarter. Chase Investment Counsel Corp increased its stake in TriNet Group by 59.5% in the 3rd quarter. Chase Investment Counsel Corp now owns 13,400 shares of the business services provider's stock worth $1,299,000 after acquiring an additional 5,000 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of TriNet Group by 11.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 19,624 shares of the business services provider's stock worth $1,903,000 after acquiring an additional 1,988 shares in the last quarter. Institutional investors own 96.81% of the company's stock.

TriNet Group Stock Up 0.6 %

NYSE TNET traded up $0.53 during midday trading on Friday, hitting $93.43. 206,025 shares of the company traded hands, compared to its average volume of 302,789. The company has a market cap of $4.63 billion, a PE ratio of 17.90 and a beta of 1.20. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07. TriNet Group, Inc. has a 52 week low of $74.32 and a 52 week high of $134.67. The company's 50-day simple moving average is $93.04 and its 200-day simple moving average is $98.55.

TriNet Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. TriNet Group's dividend payout ratio (DPR) is 19.27%.

Analysts Set New Price Targets

TNET has been the subject of several recent research reports. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $103.00 price target on shares of TriNet Group in a research report on Tuesday, October 22nd. Needham & Company LLC lowered TriNet Group from a "buy" rating to a "hold" rating and set a $140.00 price target on the stock. in a report on Monday, October 28th. Finally, TD Cowen lifted their price objective 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. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $117.00.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 375 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $3,241,471.93. The trade was a 0.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,813 shares of TriNet Group stock in a transaction dated 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 sale, the chief technology officer now owns 36,951 shares in the company, valued at approximately $3,426,835.74. This trade represents a 4.68 % decrease in their position. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by corporate insiders.

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.