JPMorgan Chase & Co. Has $22.90 Million Stake in TriNet Group, Inc. (NYSE:TNET)

JPMorgan Chase & Co. decreased its position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 34.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 252,228 shares of the business services provider's stock after selling 133,107 shares during the period. JPMorgan Chase & Co. owned 0.51% of TriNet Group worth $22,895,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cannon Global Investment Management LLC lifted its position in shares of TriNet Group by 80.0% in the fourth quarter. Cannon Global Investment Management LLC now owns 6,300 shares of the business services provider's stock worth $572,000 after buying an additional 2,800 shares during the last quarter. Vanguard Group Inc. grew its holdings in TriNet Group by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 2,992,008 shares of the business services provider's stock valued at $271,585,000 after purchasing an additional 36,216 shares during the last quarter. LPL Financial LLC grew its holdings in TriNet Group by 6.5% during the fourth quarter. LPL Financial LLC now owns 9,786 shares of the business services provider's stock valued at $888,000 after purchasing an additional 597 shares during the last quarter. Heron Bay Capital Management bought a new position in shares of TriNet Group in the fourth quarter valued at approximately $4,271,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of TriNet Group in the fourth quarter worth $908,000. Institutional investors and hedge funds own 96.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TNET shares. Needham & Company LLC reaffirmed a "hold" rating on shares of TriNet Group in a report on Thursday, March 13th. TD Cowen lowered shares of TriNet Group from a "buy" rating to a "hold" rating and dropped their target price for the stock from $104.00 to $74.00 in a research report on Tuesday, February 18th.

Remove Ads

Insider Transactions at TriNet Group

In other news, CTO Jeffery Jon Hayward sold 1,364 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total value of $94,607.04. Following the completion of the sale, the chief technology officer now directly owns 19,867 shares in the company, valued at approximately $1,377,975.12. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul Edward Chamberlain sold 600 shares of the company's stock in a transaction dated 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 owns 36,991 shares in the company, valued at approximately $2,565,695.76. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 37.10% of the company's stock.

TriNet Group Stock Performance

Shares of TNET traded down $0.37 on Tuesday, reaching $79.36. 13,816 shares of the stock traded hands, compared to its average volume of 468,910. TriNet Group, Inc. has a 12 month low of $65.43 and a 12 month high of $131.26. The company has a debt-to-equity ratio of 13.16, a current ratio of 1.07 and a quick ratio of 1.07. The stock's 50-day moving average price is $77.16 and its 200-day moving average price is $87.04. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 23.20 and a beta of 1.06.

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

TriNet Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.275 per share. This is a positive change from TriNet Group's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, April 1st. This represents a $1.10 annualized dividend and a dividend yield of 1.39%. TriNet Group's dividend payout ratio (DPR) is presently 32.16%.

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.