Wedge Capital Management L L P NC Lowers Position in TriNet Group, Inc. (NYSE:TNET)

Wedge Capital Management L L P NC trimmed its position in shares of TriNet Group, Inc. (NYSE:TNET) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,433 shares of the business services provider’s stock after selling 8,167 shares during the quarter. Wedge Capital Management L L P NC owned 0.31% of TriNet Group worth $15,072,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TNET. Oliver Luxxe Assets LLC grew its stake in shares of TriNet Group by 1.4% during the 1st quarter. Oliver Luxxe Assets LLC now owns 5,860 shares of the business services provider’s stock worth $776,000 after purchasing an additional 83 shares during the period. Jennison Associates LLC lifted its position in shares of TriNet Group by 1.8% during the 1st quarter. Jennison Associates LLC now owns 5,663 shares of the business services provider’s stock valued at $750,000 after acquiring an additional 99 shares during the period. Blue Trust Inc. boosted its stake in shares of TriNet Group by 24.9% during the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock worth $52,000 after acquiring an additional 104 shares in the last quarter. Avion Wealth grew its holdings in shares of TriNet Group by 19.2% in 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 period. Finally, 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 valued at $822,000 after purchasing an additional 142 shares in the last quarter. 96.81% of the stock is owned by hedge funds and other institutional investors.

TriNet Group Trading Up 0.1 %

Shares of TriNet Group stock traded up $0.13 during mid-day trading on Monday, hitting $97.63. 20,448 shares of the stock were exchanged, compared to its average volume of 274,012. The company has a 50-day simple moving average of $97.04 and a 200 day simple moving average of $105.20. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 9.84. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 16.47 and a beta of 1.17. TriNet Group, Inc. has a twelve month low of $91.59 and a twelve month high of $134.67.

TriNet Group (NYSE:TNET) last released its earnings results on Friday, July 26th. The business services provider reported $1.27 EPS for the quarter, topping the consensus estimate of $0.98 by $0.29. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. The firm had revenue of $310.00 million during the quarter, compared to analysts’ expectations of $301.76 million. Research analysts forecast that TriNet Group, Inc. will post 5.13 EPS for the current year.

TriNet Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Tuesday, October 1st. TriNet Group’s dividend payout ratio (DPR) is 16.89%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of TriNet Group in a report on Wednesday, September 11th. JPMorgan Chase & Co. lowered their price objective on shares of TriNet Group from $107.00 to $103.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 20th. Finally, TD Cowen dropped their target price on shares of TriNet Group from $132.00 to $118.00 and set a “buy” rating for the company in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $118.40.

Insider Activity

In related news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total value of $39,937.50. Following the completion of the sale, the director now directly owns 37,966 shares in the company, valued at approximately $4,043,379. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total transaction of $482,161.68. Following the completion of the sale, the chief financial officer now owns 82,409 shares of the company’s stock, valued at approximately $8,484,830.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total transaction of $39,937.50. Following the completion of the transaction, the director now owns 37,966 shares in the company, valued at $4,043,379. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 37.10% of the company’s stock.

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.