Point72 Hong Kong Ltd Increases Stock Position in TriNet Group, Inc. (NYSE:TNET)

Point72 Hong Kong Ltd increased its stake in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 49.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,322 shares of the business services provider's stock after acquiring an additional 7,095 shares during the period. Point72 Hong Kong Ltd's holdings in TriNet Group were worth $2,068,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

TNET has been the subject of a number of recent analyst reports. TD Cowen increased their price target on TriNet Group from $92.00 to $104.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $103.00 price target on shares of TriNet Group in a research note on Tuesday, October 22nd. Finally, Needham & Company LLC cut 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 report on Monday, October 28th. 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 company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $117.00.

Insiders Place Their Bets

In other news, CTO Jeffery Jon Hayward sold 1,813 shares of TriNet Group stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $92.74, for a total transaction of $168,137.62. Following the transaction, the chief technology officer now owns 36,951 shares in the company, valued at $3,426,835.74. This trade represents a 4.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of TriNet Group 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 transaction, the director now owns 37,591 shares in the company, 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 currently owned by company insiders.

TriNet Group Trading Up 0.1 %

Shares of NYSE:TNET traded up $0.11 on Monday, reaching $93.54. 76,575 shares of the company traded hands, compared to its average volume of 301,776. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 7.70. The business's 50-day simple moving average is $92.97 and its 200 day simple moving average is $98.44. The stock has a market capitalization of $4.64 billion, a P/E ratio of 18.00 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.

TriNet Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 1.07%. TriNet Group's dividend payout ratio (DPR) is presently 19.27%.

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.