174,965 Shares in TriNet Group, Inc. (NYSE:TNET) Bought by Simcoe Capital Management LLC

Simcoe Capital Management LLC acquired a new position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 174,965 shares of the business services provider's stock, valued at approximately $16,966,000. TriNet Group accounts for approximately 2.2% of Simcoe Capital Management LLC's portfolio, making the stock its 13th biggest position. Simcoe Capital Management LLC owned 0.35% of TriNet Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Rothschild Investment LLC acquired a new position in shares of TriNet Group during the 2nd quarter worth about $45,000. Blue Trust Inc. lifted its position in shares of TriNet Group by 24.9% during the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider's stock worth $52,000 after buying an additional 104 shares during the last quarter. Avion Wealth boosted its holdings in shares of TriNet Group by 19.2% in the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider's stock valued at $80,000 after buying an additional 129 shares in the last quarter. KBC Group NV raised its stake in TriNet Group by 26.5% during the 3rd quarter. KBC Group NV now owns 950 shares of the business services provider's stock worth $92,000 after acquiring an additional 199 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in TriNet Group in the second quarter valued at $93,000. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TriNet Group

In related news, CTO Jeffery Jon Hayward sold 1,813 shares of the business's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $92.74, for a total value of $168,137.62. Following the transaction, the chief technology officer now owns 36,951 shares in the company, valued at approximately $3,426,835.74. The trade was a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $32,336.25. Following the completion of the sale, the director now owns 37,591 shares of the company's stock, valued at approximately $3,241,471.93. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. 37.10% of the stock is owned by insiders.

TriNet Group Trading Up 0.6 %

Shares of TriNet Group stock traded up $0.60 during trading hours on Monday, reaching $94.03. 112,037 shares of the company's stock were exchanged, compared to its average volume of 301,932. The company has a fifty day moving average of $92.97 and a 200-day moving average of $98.44. TriNet Group, Inc. has a 52-week low of $74.32 and a 52-week high of $134.67. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 18.00 and a beta of 1.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 7.70.

TriNet Group Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently issued reports on TNET. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $103.00 target price on shares of TriNet Group in a research report on Tuesday, October 22nd. TD Cowen boosted their target price on TriNet Group from $92.00 to $104.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Finally, Needham & Company LLC downgraded shares of TriNet Group from a "buy" rating to a "hold" rating and set a $140.00 target price on the stock. in a 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 company's stock. According to MarketBeat, TriNet Group presently has an average rating of "Hold" and an average 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.