Raymond James Financial Inc. Acquires Shares of 15,369 TriNet Group, Inc. (NYSE:TNET)

Raymond James Financial Inc. acquired a new stake in TriNet Group, Inc. (NYSE:TNET) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 15,369 shares of the business services provider’s stock, valued at approximately $1,395,000.

A number of other hedge funds have also modified their holdings of TNET. Wealthfront Advisers LLC bought a new stake in TriNet Group in the fourth quarter valued at $456,581,000. Vanguard Group Inc. grew its holdings in shares of TriNet Group by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 2,992,008 shares of the business services provider’s stock worth $271,585,000 after purchasing an additional 36,216 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of TriNet Group by 18.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,898,005 shares of the business services provider’s stock worth $172,282,000 after purchasing an additional 289,071 shares in the last quarter. Wellington Management Group LLP lifted its holdings in TriNet Group by 23.1% during the 4th quarter. Wellington Management Group LLP now owns 1,626,902 shares of the business services provider’s stock valued at $147,674,000 after purchasing an additional 305,165 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in TriNet Group by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 493,836 shares of the business services provider’s stock valued at $44,825,000 after buying an additional 20,483 shares in the last quarter. 96.81% of the stock is owned by institutional investors and hedge funds.

TriNet Group Stock Up 2.0 %

NYSE TNET opened at $80.37 on Friday. The stock has a market capitalization of $3.89 billion, a P/E ratio of 23.50 and a beta of 1.06. TriNet Group, Inc. has a 52 week low of $65.43 and a 52 week high of $116.26. 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 stock has a fifty day moving average of $76.64 and a 200-day moving average of $85.22.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Friday, April 25th. The business services provider reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.32. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $319.36 million. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. During the same period in the previous year, the business posted $2.18 EPS. On average, equities research analysts forecast that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.275 per share. This is a boost from TriNet Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $1.10 annualized dividend and a dividend yield of 1.37%. TriNet Group’s payout ratio is presently 32.84%.

Insider Activity

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,364 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $94,607.04. Following the completion of the sale, the chief technology officer now owns 19,867 shares of the company’s stock, valued at approximately $1,377,975.12. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 600 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $41,616.00. Following the completion of the sale, the director now owns 36,991 shares in the company, valued at approximately $2,565,695.76. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 38.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TNET shares. JPMorgan Chase & Co. raised their price objective on shares of TriNet Group from $75.00 to $76.00 and gave the stock an “underweight” rating in a report on Monday, April 28th. Needham & Company LLC reiterated a “hold” rating on shares of TriNet Group in a research report on Thursday, March 13th. Finally, TD Cowen cut TriNet Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $104.00 to $74.00 in a report on Tuesday, February 18th.

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.