TriNet Group, Inc. (NYSE:TNET) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 41.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,930 shares of the business services provider's stock after selling 16,863 shares during the quarter. Van ECK Associates Corp's holdings in TriNet Group were worth $2,233,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TNET. Rothschild Investment LLC acquired a new position in TriNet Group in the 2nd quarter worth approximately $45,000. Blue Trust Inc. increased its stake in shares of TriNet Group by 24.9% in the second quarter. Blue Trust Inc. now owns 522 shares of the business services provider's stock worth $52,000 after acquiring an additional 104 shares during the period. Avion Wealth raised its holdings in shares of 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. LRI Investments LLC purchased a new stake in TriNet Group in the first quarter valued at $81,000. 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 owned by institutional investors and hedge funds.

Insider Activity

In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total transaction of $482,161.68. Following the completion of the transaction, the chief financial officer now owns 82,409 shares of the company's stock, valued at $8,484,830.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the sale, the chief financial officer now directly owns 82,409 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, Director Paul Edward Chamberlain sold 375 shares of the business's stock in a transaction dated Wednesday, October 30th. The stock was 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 $3,241,471.93. The trade was 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 Price Performance

Shares of TriNet Group stock traded up $3.55 on Monday, reaching $96.29. The company's stock had a trading volume of 371,476 shares, compared to its average volume of 299,227. TriNet Group, Inc. has a 52-week low of $74.32 and a 52-week high of $134.67. The company has a market capitalization of $4.77 billion, a P/E ratio of 18.50 and a beta of 1.20. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 7.70. The stock has a 50-day moving average price of $94.13 and a 200-day moving average price of $99.59.

TriNet Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Cowen decreased their price objective on TriNet Group from $110.00 to $92.00 and set a "buy" rating for the company in a report on Monday, October 28th. Needham & Company LLC lowered shares of TriNet Group from a "buy" rating to a "hold" rating and set a $140.00 target price 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 research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, TriNet Group has an average rating of "Hold" and a consensus price target of $114.00.

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.