Teacher Retirement System of Texas Sells 18,533 Shares of TriNet Group, Inc. (NYSE:TNET)

Teacher Retirement System of Texas reduced its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 64.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,220 shares of the business services provider’s stock after selling 18,533 shares during the quarter. Teacher Retirement System of Texas’ holdings in TriNet Group were worth $810,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TNET. Raymond James Financial Inc. bought a new position in shares of TriNet Group during the 4th quarter valued at approximately $1,395,000. PNC Financial Services Group Inc. grew its position in shares of TriNet Group by 118.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,446 shares of the business services provider’s stock valued at $131,000 after acquiring an additional 785 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of TriNet Group by 11.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,442 shares of the business services provider’s stock valued at $766,000 after acquiring an additional 872 shares during the period. Cibc World Markets Corp purchased a new stake in TriNet Group in the fourth quarter worth $271,000. Finally, William Blair Investment Management LLC purchased a new stake in TriNet Group in the fourth quarter worth $15,875,000. 96.81% of the stock is currently owned by institutional investors.

TriNet Group Stock Up 0.5%

TNET stock opened at $69.05 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 14.43. The firm has a market capitalization of $3.34 billion, a PE ratio of 20.61 and a beta of 0.84. TriNet Group, Inc. has a twelve month low of $65.43 and a twelve month high of $116.26. The stock has a 50-day simple moving average of $78.87 and a two-hundred day simple moving average of $80.79.

TriNet Group (NYSE:TNET) last posted its earnings results on Friday, April 25th. The business services provider reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.32. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $319.36 million. TriNet Group had a return on equity of 237.87% and a net margin of 3.32%. During the same quarter in the previous year, the firm earned $2.18 EPS. On average, equities analysts predict that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Tuesday, July 1st will be given a $0.275 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.59%. TriNet Group’s dividend payout ratio (DPR) is presently 32.84%.

Insider Transactions at TriNet Group

In other news, CTO Jeffery Jon Hayward sold 1,437 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $82.04, for a total value of $117,891.48. Following the completion of the sale, the chief technology officer directly owned 32,932 shares in the company, valued at approximately $2,701,741.28. The trade was a 4.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Sidney A. Majalya sold 500 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $83.14, for a total transaction of $41,570.00. Following the sale, the senior vice president owned 23,033 shares of the company’s stock, valued at approximately $1,914,963.62. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,120 shares of company stock valued at $175,291. Corporate insiders own 38.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised their target price on TriNet Group from $75.00 to $76.00 and gave the stock an “underweight” rating in a research report on Monday, April 28th.

TriNet Group 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.