Colonial River Wealth Management LLC Takes Position in TriNet Group, Inc. (NYSE:TNET)

Colonial River Wealth Management LLC acquired a new stake in shares of TriNet Group, Inc. (NYSE:TNETFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,583 shares of the business services provider’s stock, valued at approximately $307,000.

A number of other hedge funds have also made changes to their positions in TNET. Raymond James & Associates increased its holdings in shares of TriNet Group by 13.5% during the 1st quarter. Raymond James & Associates now owns 5,307 shares of the business services provider’s stock valued at $522,000 after acquiring an additional 631 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in TriNet Group by 3.5% during the 1st quarter. Bank of New York Mellon Corp now owns 192,517 shares of the business services provider’s stock valued at $18,937,000 after purchasing an additional 6,480 shares during the period. Citigroup Inc. boosted its stake in TriNet Group by 46.5% during the 1st quarter. Citigroup Inc. now owns 39,685 shares of the business services provider’s stock valued at $3,904,000 after purchasing an additional 12,604 shares during the period. MetLife Investment Management LLC boosted its stake in TriNet Group by 53.6% during the 1st quarter. MetLife Investment Management LLC now owns 21,581 shares of the business services provider’s stock valued at $2,123,000 after purchasing an additional 7,535 shares during the period. Finally, Rhumbline Advisers boosted its stake in TriNet Group by 8.0% during the 1st quarter. Rhumbline Advisers now owns 44,248 shares of the business services provider’s stock valued at $4,352,000 after purchasing an additional 3,280 shares during the period. Institutional investors and hedge funds own 96.81% of the company’s stock.

TriNet Group Stock Down 0.1 %

NYSE TNET opened at $132.30 on Wednesday. The stock has a fifty day moving average of $123.51 and a 200-day moving average of $117.97. The stock has a market capitalization of $6.69 billion, a P/E ratio of 20.39 and a beta of 1.09. TriNet Group, Inc. has a 52 week low of $79.00 and a 52 week high of $133.94. The company has a debt-to-equity ratio of 12.62, a quick ratio of 1.05 and a current ratio of 1.05.

TriNet Group (NYSE:TNETGet Free Report) last posted its earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.46. The firm had revenue of $326.00 million for the quarter, compared to analyst estimates of $300.36 million. TriNet Group had a return on equity of 87.97% and a net margin of 7.62%. On average, equities research analysts forecast that TriNet Group, Inc. will post 5.79 EPS for the current year.

TriNet Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, March 28th. TriNet Group’s dividend payout ratio (DPR) is presently 15.41%.

Insider Transactions at TriNet Group

In related news, SVP Alexander G. Warren sold 2,385 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $123.07, for a total value of $293,521.95. Following the completion of the sale, the senior vice president now directly owns 18,365 shares in the company, valued at $2,260,180.55. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Alexander G. Warren sold 2,385 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $123.07, for a total value of $293,521.95. Following the completion of the sale, the senior vice president now directly owns 18,365 shares in the company, valued at $2,260,180.55. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Wayne B. Lowell sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $122.22, for a total value of $1,222,200.00. Following the completion of the sale, the director now owns 84,766 shares of the company’s stock, valued at $10,360,100.52. The disclosure for this sale can be found here. Insiders sold a total of 33,835 shares of company stock worth $4,161,834 over the last quarter. Company insiders own 40.60% of the company’s stock.

Analysts Set New Price Targets

TNET has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $150.00 target price on shares of TriNet Group in a research note on Friday, March 1st. StockNews.com upgraded TriNet Group from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. TD Cowen raised their price objective on TriNet Group from $129.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Finally, Stifel Nicolaus raised their price objective on TriNet Group from $117.00 to $121.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.17.

View Our Latest Research Report on TNET

About TriNet Group

(Free Report)

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.

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Institutional Ownership by Quarter for TriNet Group (NYSE:TNET)

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