Massachusetts Financial Services Co. MA Boosts Stock Holdings in TriNet Group, Inc. (NYSE:TNET)

Massachusetts Financial Services Co. MA raised its position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 32.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,608,934 shares of the business services provider's stock after purchasing an additional 391,720 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 3.25% of TriNet Group worth $156,018,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its position in shares of TriNet Group by 67.7% during the 1st quarter. Jane Street Group LLC now owns 1,149,929 shares of the business services provider's stock valued at $152,354,000 after purchasing an additional 464,289 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of TriNet Group by 960.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,003 shares of the business services provider's stock worth $31,269,000 after buying an additional 213,752 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of TriNet Group during the 2nd quarter worth approximately $20,610,000. Select Equity Group L.P. bought a new stake in shares of TriNet Group in the 2nd quarter valued at $6,652,000. Finally, Vanguard Group Inc. increased its stake in shares of TriNet Group by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 2,838,347 shares of the business services provider's stock valued at $376,053,000 after acquiring an additional 52,240 shares in the last quarter. Institutional investors own 96.81% of the company's stock.

TriNet Group Stock Up 0.7 %

TNET stock traded up $0.69 during midday trading on Friday, reaching $93.00. 321,831 shares of the company's stock traded hands, compared to its average volume of 578,805. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 7.70. The firm's fifty day moving average price is $93.41 and its 200-day moving average price is $98.79. TriNet Group, Inc. has a 52 week low of $74.32 and a 52 week high of $134.67. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 17.92 and a beta of 1.20.

TriNet Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Tuesday, October 1st. TriNet Group's dividend payout ratio (DPR) is presently 19.27%.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 375 shares of the business's stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the company's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the transaction, the chief financial officer now directly owns 82,409 shares of the company's stock, valued at approximately $8,484,830.64. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 37.10% of the company's stock.

Wall Street Analysts Forecast Growth

TNET has been the subject of a number of research reports. JPMorgan Chase & Co. restated an "underweight" rating and issued a $103.00 price target on shares of TriNet Group in a report on Tuesday, October 22nd. TD Cowen increased 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. Finally, Needham & Company LLC lowered TriNet Group from a "buy" rating to a "hold" rating and set a $140.00 target price for the company. in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $117.00.

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.