TriNet Group (NYSE:TNET) Hits New 1-Year Low – Here’s What Happened

TriNet Group, Inc. (NYSE:TNET) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $65.43 and last traded at $67.06, with a volume of 101326 shares traded. The stock had previously closed at $66.51.

Analysts Set New Price Targets

A number of brokerages have commented on TNET. TD Cowen cut TriNet Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $104.00 to $74.00 in a research note on Tuesday, February 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of TriNet Group in a research note on Friday, February 14th.

TriNet Group Price Performance

The company has a debt-to-equity ratio of 13.16, a quick ratio of 1.07 and a current ratio of 1.07. The business has a 50-day simple moving average of $88.97 and a 200 day simple moving average of $92.66. The firm has a market cap of $3.37 billion, a P/E ratio of 19.85 and a beta of 1.21.

TriNet Group (NYSE:TNET) last announced its earnings results on Thursday, February 13th. The business services provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $252.00 million during the quarter, compared to the consensus estimate of $225.72 million. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. On average, analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Thursday, January 2nd. TriNet Group’s payout ratio is 29.24%.

Insider Activity at TriNet Group

In related news, CTO Jeffery Jon Hayward sold 2,345 shares of TriNet Group stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $93.03, for a total transaction of $218,155.35. Following the sale, the chief technology officer now directly owns 34,606 shares in the company, valued at $3,219,396.18. The trade was a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 37.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TriNet Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in TNET. TD Private Client Wealth LLC increased its stake in shares of TriNet Group by 25.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 595 shares of the business services provider’s stock worth $58,000 after acquiring an additional 121 shares in the last quarter. LRI Investments LLC grew its holdings in TriNet Group by 643.8% in the fourth quarter. LRI Investments LLC now owns 662 shares of the business services provider’s stock worth $60,000 after purchasing an additional 573 shares during the period. IFP Advisors Inc grew its holdings in TriNet Group by 45.5% in the fourth quarter. IFP Advisors Inc now owns 767 shares of the business services provider’s stock worth $71,000 after purchasing an additional 240 shares during the period. KBC Group NV increased its stake in shares of TriNet Group by 26.5% during the third quarter. KBC Group NV now owns 950 shares of the business services provider’s stock valued at $92,000 after purchasing an additional 199 shares in the last quarter. Finally, Avion Wealth lifted its holdings in shares of TriNet Group by 14.9% during the fourth quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock valued at $98,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

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.