Raymond James Financial Inc. Makes New $1.40 Million Investment in TriNet Group, Inc. (NYSE:TNET)

Raymond James Financial Inc. purchased a new stake in TriNet Group, Inc. (NYSE:TNET - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,369 shares of the business services provider's stock, valued at approximately $1,395,000.

Other institutional investors also recently modified their holdings of the company. M&T Bank Corp bought a new stake in TriNet Group during the 4th quarter valued at $624,000. Cornerstone Investment Partners LLC grew its position in shares of TriNet Group by 28.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 7,327 shares of the business services provider's stock valued at $665,000 after purchasing an additional 1,628 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of TriNet Group by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 493,836 shares of the business services provider's stock valued at $44,825,000 after purchasing an additional 20,483 shares during the period. Bank of New York Mellon Corp lifted its holdings in TriNet Group by 82.7% during the 4th quarter. Bank of New York Mellon Corp now owns 222,458 shares of the business services provider's stock worth $20,193,000 after purchasing an additional 100,728 shares in the last quarter. Finally, GHE LLC boosted its stake in TriNet Group by 10.9% in the 4th quarter. GHE LLC now owns 31,565 shares of the business services provider's stock worth $3,061,000 after purchasing an additional 3,091 shares during the period. 96.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TriNet Group

In other TriNet Group news, CTO Jeffery Jon Hayward sold 7,784 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $89.57, for a total transaction of $697,212.88. Following the transaction, the chief technology officer now directly owns 21,769 shares in the company, valued at $1,949,849.33. This trade represents a 26.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 600 shares of TriNet Group stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $41,616.00. Following the transaction, the director now directly owns 36,991 shares in the company, valued at $2,565,695.76. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,748 shares of company stock valued at $833,436 over the last 90 days. 37.10% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

TNET has been the topic of several analyst reports. TD Cowen cut TriNet Group from a "buy" rating to a "hold" rating and decreased their price target for the company from $104.00 to $74.00 in a research report on Tuesday, February 18th. Needham & Company LLC reissued a "hold" rating on shares of TriNet Group in a report on Thursday, March 13th.

TriNet Group Price Performance

Shares of TNET traded down $0.07 during trading hours on Monday, reaching $73.66. 554,562 shares of the company's stock traded hands, compared to its average volume of 368,919. TriNet Group, Inc. has a 12 month low of $65.43 and a 12 month high of $131.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16. The stock has a market cap of $3.65 billion, a PE ratio of 21.54 and a beta of 1.06. The firm's 50 day simple moving average is $79.45 and its 200-day simple moving average is $87.94.

TriNet Group (NYSE:TNET - Get Free Report) last announced its earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.02. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. The business had revenue of $252.00 million for the quarter, compared to the consensus estimate of $225.72 million. Equities analysts expect that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a $0.275 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This is a positive change from TriNet Group's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 1.49%. TriNet Group's payout ratio is 32.16%.

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.