Simcoe Capital Management LLC Invests $16.97 Million in TriNet Group, Inc. (NYSE:TNET)

Simcoe Capital Management LLC purchased a new stake in TriNet Group, Inc. (NYSE:TNET) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 174,965 shares of the business services provider’s stock, valued at approximately $16,966,000. TriNet Group makes up about 2.2% of Simcoe Capital Management LLC’s holdings, making the stock its 13th biggest position. Simcoe Capital Management LLC owned approximately 0.35% of TriNet Group at the end of the most recent quarter.

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

TriNet Group Trading Up 0.6 %

Shares of NYSE:TNET opened at $93.43 on Monday. The company has a market capitalization of $4.63 billion, a P/E ratio of 18.00 and a beta of 1.20. TriNet Group, Inc. has a 1 year low of $74.32 and a 1 year high of $134.67. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50 day simple moving average is $92.97 and its 200 day simple moving average is $98.44.

TriNet Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Tuesday, October 1st. TriNet Group’s dividend payout ratio is presently 19.27%.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction on 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeffery Jon Hayward sold 1,813 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $92.74, for a total value of $168,137.62. Following the completion of the sale, the chief technology officer now directly owns 36,951 shares in the company, valued at approximately $3,426,835.74. This represents a 4.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 37.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. TD Cowen upped their price objective on TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $103.00 target price on shares of TriNet Group in a research note on Tuesday, October 22nd. Finally, Needham & Company LLC lowered TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 target price 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. According to MarketBeat, TriNet Group currently has a consensus 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.