Victory Capital Management Inc. Decreases Position in TriNet Group, Inc. (NYSE:TNET)

Victory Capital Management Inc. trimmed its holdings in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 32.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,078 shares of the business services provider's stock after selling 7,681 shares during the quarter. Victory Capital Management Inc.'s holdings in TriNet Group were worth $1,559,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of TriNet Group by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 2,838,347 shares of the business services provider's stock worth $376,053,000 after purchasing an additional 52,240 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in TriNet Group by 9.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,217,214 shares of the business services provider's stock valued at $121,721,000 after purchasing an additional 103,809 shares during the period. Earnest Partners LLC increased its position in TriNet Group by 1.9% in the second quarter. Earnest Partners LLC now owns 915,043 shares of the business services provider's stock worth $91,504,000 after buying an additional 16,708 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of TriNet Group by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 823,019 shares of the business services provider's stock valued at $82,304,000 after buying an additional 9,386 shares during the period. Finally, Emerald Advisers LLC grew its stake in shares of TriNet Group by 1.1% during the 3rd quarter. Emerald Advisers LLC now owns 252,819 shares of the business services provider's stock worth $24,516,000 after acquiring an additional 2,651 shares during the period. 96.81% of the stock is currently owned by institutional investors.

Insider Activity at TriNet Group

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the 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 transaction, the chief financial officer now owns 82,409 shares of the company's stock, valued at $8,484,830.64. This represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total value of $32,336.25. Following the sale, the director now directly 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. Insiders have sold 6,871 shares of company stock valued at $682,636 over the last three months. 37.10% of the stock is owned by corporate insiders.

TriNet Group Price Performance

NYSE:TNET traded down $1.20 during trading hours on Tuesday, hitting $92.86. 450,546 shares of the company's stock traded hands, compared to its average volume of 302,894. The firm has a market cap of $4.60 billion, a P/E ratio of 17.89 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 business's fifty day simple moving average is $93.25 and its two-hundred day simple moving average is $98.63. TriNet Group, Inc. has a 52 week low of $74.32 and a 52 week high of $134.67.

TriNet Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Tuesday, October 1st. TriNet Group's dividend payout ratio (DPR) is 19.27%.

Analysts Set New Price Targets

Several brokerages recently weighed in on TNET. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $103.00 price objective on shares of TriNet Group in a report on Tuesday, October 22nd. TD Cowen boosted their price target on shares of TriNet Group from $92.00 to $104.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Finally, Needham & Company LLC cut shares of TriNet Group from a "buy" rating to a "hold" rating and set a $140.00 price target on the stock. in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, TriNet Group currently has an average rating of "Hold" and an average price target 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.