Picton Mahoney Asset Management Takes Position in TriNet Group, Inc. $TNET

Picton Mahoney Asset Management purchased a new position in TriNet Group, Inc. (NYSE:TNET) during the third quarter, HoldingsChannel reports. The firm purchased 14,206 shares of the business services provider’s stock, valued at approximately $949,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its holdings in TriNet Group by 19.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,353,004 shares of the business services provider’s stock valued at $157,392,000 after buying an additional 387,940 shares in the last quarter. American Century Companies Inc. grew its stake in TriNet Group by 35.2% in the 2nd quarter. American Century Companies Inc. now owns 1,160,037 shares of the business services provider’s stock worth $84,845,000 after acquiring an additional 301,832 shares in the last quarter. Millennium Management LLC grew its stake in TriNet Group by 3,995.7% in the 1st quarter. Millennium Management LLC now owns 138,926 shares of the business services provider’s stock worth $11,008,000 after acquiring an additional 135,534 shares in the last quarter. Jane Street Group LLC increased its position in shares of TriNet Group by 306.4% during the second quarter. Jane Street Group LLC now owns 164,336 shares of the business services provider’s stock worth $12,020,000 after acquiring an additional 123,898 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of TriNet Group by 109.2% during the third quarter. JPMorgan Chase & Co. now owns 220,096 shares of the business services provider’s stock worth $14,722,000 after acquiring an additional 114,892 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.

TriNet Group Stock Performance

TNET stock opened at $39.12 on Friday. TriNet Group, Inc. has a one year low of $33.60 and a one year high of $88.56. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 12.38 and a beta of 0.86. The company has a debt-to-equity ratio of 16.57, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a 50-day simple moving average of $52.39 and a two-hundred day simple moving average of $59.00.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Thursday, February 12th. The business services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.37 by $0.09. TriNet Group had a net margin of 3.09% and a return on equity of 215.01%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $251.57 million. During the same quarter in the previous year, the business posted $0.44 EPS. TriNet Group’s revenue was down 2.3% on a year-over-year basis. TriNet Group has set its FY 2026 guidance at 3.700-4.700 EPS. On average, equities analysts forecast that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group announced that its board has approved a share repurchase plan on Thursday, February 12th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the business services provider to purchase up to 18.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

TriNet Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 2nd were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, January 2nd. TriNet Group’s dividend payout ratio is currently 34.81%.

Insider Activity at TriNet Group

In other news, SVP Sidney A. Majalya sold 775 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $61.86, for a total value of $47,941.50. Following the completion of the sale, the senior vice president owned 19,853 shares of the company’s stock, valued at $1,228,106.58. This trade represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 38.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TNET shares. Zacks Research lowered TriNet Group from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Stifel Nicolaus reduced their price objective on TriNet Group from $97.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, February 13th. TD Cowen lowered their target price on TriNet Group from $65.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, January 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of TriNet Group in a research report on Wednesday, January 21st. Finally, Truist Financial began coverage on TriNet Group in a research note on Friday, December 5th. They set a “hold” rating and a $62.00 price target on the stock. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $65.80.

TriNet Group Company Profile

TriNet Group, Inc is a leading professional employer organization (PEO) that offers integrated human capital management solutions to small and medium-size businesses. Through a bundled suite of services, TriNet manages payroll administration, employee benefits, workers’ compensation, risk mitigation and federal and state compliance. Its cloud-based platform provides clients with centralized access to HR tools, analytics and streamlined workforce management capabilities.

Founded in 1988 and headquartered in Dublin, California, TriNet has grown to support thousands of organizations across the United States.