Principal Financial Group Inc. Sells 18,892 Shares of TriNet Group, Inc. (NYSE:TNET)

Principal Financial Group Inc. trimmed its holdings in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 86.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,967 shares of the business services provider's stock after selling 18,892 shares during the period. Principal Financial Group Inc.'s holdings in TriNet Group were worth $288,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cannon Global Investment Management LLC acquired a new position in TriNet Group during the third quarter worth $339,000. Emerald Advisers LLC increased its position in shares of TriNet Group by 1.1% during the 3rd quarter. Emerald Advisers LLC now owns 252,819 shares of the business services provider's stock worth $24,516,000 after purchasing an additional 2,651 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in TriNet Group by 108.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 19,646 shares of the business services provider's stock valued at $1,905,000 after purchasing an additional 10,207 shares during the last quarter. Farther Finance Advisors LLC boosted its position in TriNet Group by 7,191.7% in the third quarter. Farther Finance Advisors LLC now owns 4,375 shares of the business services provider's stock valued at $424,000 after buying an additional 4,315 shares in the last quarter. Finally, US Bancorp DE grew its stake in TriNet Group by 9,893.1% during the third quarter. US Bancorp DE now owns 7,195 shares of the business services provider's stock worth $698,000 after buying an additional 7,123 shares during the last quarter. 96.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $102.96, for a total value of $482,161.68. Following the sale, the chief financial officer now owns 82,409 shares of the company's stock, valued at $8,484,830.64. This trade represents a 5.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $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 6,871 shares of company stock worth $682,636. Company insiders own 37.10% of the company's stock.

Analysts Set New Price Targets

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

TriNet Group Trading Down 1.3 %

Shares of TNET traded down $1.20 during trading hours on Tuesday, reaching $92.86. The stock had a trading volume of 450,546 shares, compared to its average volume of 302,894. The company has a market cap of $4.60 billion, a P/E ratio of 18.12 and a beta of 1.20. TriNet Group, Inc. has a 52 week low of $74.32 and a 52 week high of $134.67. 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 has a 50-day moving average of $93.34 and a 200 day moving average of $98.70.

TriNet Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 1st were paid a dividend of $0.25 per share. 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 1.08%. TriNet Group's payout ratio is 19.27%.

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.