6,236 Shares in TriNet Group, Inc. (NYSE:TNET) Bought by Summit Global Investments

Summit Global Investments acquired a new stake in TriNet Group, Inc. (NYSE:TNET - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 6,236 shares of the business services provider's stock, valued at approximately $605,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Blue Trust Inc. boosted its position in TriNet Group by 24.9% during the second quarter. Blue Trust Inc. now owns 522 shares of the business services provider's stock valued at $52,000 after buying an additional 104 shares during the period. Avion Wealth grew its position in TriNet Group by 19.2% during the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider's stock worth $80,000 after acquiring an additional 129 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in TriNet Group by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,222 shares of the business services provider's stock worth $822,000 after purchasing an additional 142 shares during the period. Linden Thomas Advisory Services LLC lifted its position in TriNet Group by 2.2% in the second quarter. Linden Thomas Advisory Services LLC now owns 7,163 shares of the business services provider's stock valued at $716,000 after purchasing an additional 156 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of TriNet Group by 2.0% during the second quarter. Arizona State Retirement System now owns 9,203 shares of the business services provider's stock valued at $920,000 after purchasing an additional 180 shares during the period. Institutional investors own 96.81% of the company's stock.

TriNet Group Trading Up 4.2 %

TNET stock traded up $3.86 during trading on Monday, reaching $96.60. The company had a trading volume of 127,910 shares, compared to its average volume of 298,036. TriNet Group, Inc. has a 52 week low of $74.32 and a 52 week high of $134.67. The business has a 50 day moving average of $94.13 and a 200 day moving average of $99.59. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $4.79 billion, a P/E ratio of 18.50 and a beta of 1.20.

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 paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. TriNet Group's payout ratio is 19.27%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. 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 research note on Monday, October 28th. TD Cowen dropped their target price on shares of TriNet Group from $110.00 to $92.00 and set a "buy" rating for the company in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and set a $103.00 price target on shares of TriNet Group in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $114.00.

Insider Activity

In other news, 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 transaction, the chief financial officer now owns 82,409 shares in the company, valued at approximately $8,484,830.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the business's stock in a transaction on Wednesday, October 30th. The shares were 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 directly owns 37,591 shares in the company, valued at approximately $3,241,471.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the firm's stock in a transaction on Thursday, August 29th. The stock was 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 owns 82,409 shares in the company, valued at approximately $8,484,830.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 37.10% of the company's stock.

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.