TriNet Group, Inc. (NYSE:TNET) Stake Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 86.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TNET. Massachusetts Financial Services Co. MA grew its position in shares of TriNet Group by 32.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider's stock worth $156,018,000 after acquiring an additional 391,720 shares during the last quarter. Wellington Management Group LLP grew its position in TriNet Group by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,321,737 shares of the business services provider's stock worth $128,169,000 after purchasing an additional 184,186 shares during the last quarter. Earnest Partners LLC increased its stake in shares of TriNet Group by 1.9% in the second quarter. Earnest Partners LLC now owns 915,043 shares of the business services provider's stock valued at $91,504,000 after purchasing an additional 16,708 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of TriNet Group by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 823,019 shares of the business services provider's stock valued at $82,304,000 after buying an additional 9,386 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of TriNet Group by 41.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 550,404 shares of the business services provider's stock worth $53,373,000 after buying an additional 162,578 shares during the period. Institutional investors and hedge funds own 96.81% of the company's stock.

Insider Buying and Selling at TriNet Group

In other news, CTO Jeffery Jon Hayward sold 1,813 shares of the business's 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 of the company's stock, valued at $3,426,835.74. The trade was a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Edward Chamberlain sold 375 shares of the 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 transaction, the director now owns 37,591 shares of the company's stock, valued at $3,241,471.93. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,533 shares of company stock valued at $418,629. 37.10% of the stock is owned by insiders.

TriNet Group Price Performance

NYSE TNET traded up $0.79 on Tuesday, reaching $90.59. 185,380 shares of the stock traded hands, compared to its average volume of 255,920. TriNet Group, Inc. has a 12 month low of $74.32 and a 12 month 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's fifty day simple moving average is $91.47 and its 200 day simple moving average is $96.08. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 17.45 and a beta of 1.21.

TriNet Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, January 2nd. TriNet Group's dividend payout ratio (DPR) is presently 19.27%.

Analyst Ratings Changes

TNET has been the topic of several analyst reports. JPMorgan Chase & Co. restated an "underweight" rating and issued a $103.00 target price 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 upped their price objective on shares of TriNet Group from $92.00 to $104.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $117.00.

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.