Jacobs Levy Equity Management Inc. Boosts Position in TriNet Group, Inc. (NYSE:TNET)

Jacobs Levy Equity Management Inc. raised its stake in TriNet Group, Inc. (NYSE:TNET - Free Report) by 41.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 550,404 shares of the business services provider's stock after purchasing an additional 162,578 shares during the period. Jacobs Levy Equity Management Inc. owned 1.11% of TriNet Group worth $53,373,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TNET. Rothschild Investment LLC acquired a new position in shares of TriNet Group in the second quarter valued at about $45,000. Blue Trust Inc. lifted its position in TriNet Group by 24.9% during the second quarter. Blue Trust Inc. now owns 522 shares of the business services provider's stock worth $52,000 after purchasing an additional 104 shares during the period. Avion Wealth lifted its position 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. Headlands Technologies LLC bought a new stake in TriNet Group during the second quarter worth about $93,000. Finally, KBC Group NV lifted its position in TriNet Group by 26.5% during the third quarter. KBC Group NV now owns 950 shares of the business services provider's stock worth $92,000 after purchasing an additional 199 shares during the period. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TriNet Group

In other news, CTO Jeffery Jon Hayward sold 1,813 shares of TriNet Group stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $92.74, for a total transaction of $168,137.62. Following the sale, the chief technology officer now directly owns 36,951 shares in the company, valued at $3,426,835.74. The trade was a 4.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total value of $32,336.25. Following the sale, the director now 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. In the last three months, insiders have sold 4,533 shares of company stock worth $418,629. Corporate insiders own 37.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TNET shares. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $103.00 price objective on shares of TriNet Group in a research report on Tuesday, October 22nd. TD Cowen upped their price objective on shares of TriNet Group from $92.00 to $104.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Finally, Needham & Company LLC cut shares of TriNet Group from a "buy" rating to a "hold" rating and set a $140.00 target price for the company. in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $117.00.

TriNet Group Stock Up 1.3 %

Shares of TNET traded up $1.21 during trading hours on Wednesday, reaching $93.91. The stock had a trading volume of 404,165 shares, compared to its average volume of 302,608. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 7.70. The firm has a 50-day simple moving average of $92.84 and a 200 day simple moving average of $98.27. TriNet Group, Inc. has a 12 month low of $74.32 and a 12 month high of $134.67. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 18.09 and a beta of 1.21.

TriNet Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.06%. The ex-dividend date was Tuesday, October 1st. TriNet Group's dividend payout ratio (DPR) is presently 19.27%.

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.