Blueshift Asset Management LLC Buys Shares of 4,765 TriNet Group, Inc. (NYSE:TNET)

Blueshift Asset Management LLC purchased a new position in shares of TriNet Group, Inc. (NYSE:TNET) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,765 shares of the business services provider’s stock, valued at approximately $462,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wedge Capital Management L L P NC grew its holdings in TriNet Group by 14.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 163,600 shares of the business services provider’s stock worth $16,360,000 after acquiring an additional 20,680 shares during the last quarter. Boston Partners lifted its holdings in shares of TriNet Group by 20.8% during the first quarter. Boston Partners now owns 108,157 shares of the business services provider’s stock worth $14,319,000 after purchasing an additional 18,586 shares during the period. US Bancorp DE grew its stake in shares of TriNet Group by 9,893.1% in the third quarter. US Bancorp DE now owns 7,195 shares of the business services provider’s stock worth $698,000 after purchasing an additional 7,123 shares during the last quarter. Summit Global Investments acquired a new stake in TriNet Group in the third quarter valued at $605,000. Finally, Harbor Capital Advisors Inc. raised its position in TriNet Group by 276.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,439 shares of the business services provider’s stock worth $944,000 after purchasing an additional 6,933 shares during the last quarter. 96.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,813 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $92.74, for a total value of $168,137.62. Following the transaction, the chief technology officer now owns 36,951 shares in the company, valued at approximately $3,426,835.74. This represents a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $86.23, for a total value of $32,336.25. Following the completion of the sale, the director now directly owns 37,591 shares of the company’s stock, valued at $3,241,471.93. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders own 37.10% of the company’s stock.

TriNet Group Stock Performance

TNET stock opened at $92.90 on Thursday. The firm has a market cap of $4.61 billion, a PE ratio of 17.90 and a beta of 1.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 7.70. The stock has a 50-day moving average price of $93.15 and a 200-day moving average price of $98.59. TriNet Group, Inc. has a 1-year low of $74.32 and a 1-year high of $134.67.

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. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.08%. TriNet Group’s payout ratio is currently 19.27%.

Analysts Set New Price Targets

TNET has been the topic of a number of analyst reports. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $103.00 price target on shares of TriNet Group in a research report on Tuesday, October 22nd. Needham & Company LLC cut TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 target price on the stock. in a report on Monday, October 28th. Finally, TD Cowen raised their price target on shares of TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.