PNC Financial Services Group Inc. Boosts Stake in TriNet Group, Inc. $TNET

PNC Financial Services Group Inc. boosted its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 58.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,291 shares of the business services provider’s stock after buying an additional 845 shares during the period. PNC Financial Services Group Inc.’s holdings in TriNet Group were worth $182,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of TriNet Group by 4,677.9% during the 1st quarter. GAMMA Investing LLC now owns 3,249 shares of the business services provider’s stock valued at $257,000 after purchasing an additional 3,181 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of TriNet Group by 11.4% during the 1st quarter. Farther Finance Advisors LLC now owns 4,165 shares of the business services provider’s stock valued at $331,000 after purchasing an additional 427 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of TriNet Group during the 1st quarter valued at $987,000. Bank of New York Mellon Corp lifted its holdings in shares of TriNet Group by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 232,279 shares of the business services provider’s stock valued at $18,406,000 after purchasing an additional 9,821 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of TriNet Group during the 4th quarter valued at $1,395,000. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. decreased their price objective on TriNet Group from $76.00 to $75.00 and set an “underweight” rating for the company in a report on Monday, July 28th.

TriNet Group Price Performance

NYSE TNET opened at $65.41 on Monday. The company has a debt-to-equity ratio of 8.36, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s fifty day moving average price is $70.26 and its 200 day moving average price is $76.22. TriNet Group, Inc. has a 1 year low of $62.55 and a 1 year high of $104.06. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 22.48 and a beta of 0.83.

TriNet Group (NYSE:TNET) last released its earnings results on Friday, July 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.12. TriNet Group had a return on equity of 208.35% and a net margin of 2.85%. The firm had revenue of $282.90 million for the quarter, compared to the consensus estimate of $278.93 million. During the same period in the prior year, the firm earned $1.53 EPS. As a group, equities research analysts forecast that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, July 1st. TriNet Group’s dividend payout ratio (DPR) is currently 37.80%.

Insiders Place Their Bets

In other TriNet Group news, SVP Sidney A. Majalya sold 500 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $83.14, for a total transaction of $41,570.00. Following the sale, the senior vice president directly owned 23,033 shares of the company’s stock, valued at approximately $1,914,963.62. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeffery Jon Hayward sold 1,437 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $82.04, for a total value of $117,891.48. Following the sale, the chief technology officer directly owned 32,932 shares in the company, valued at $2,701,741.28. This represents a 4.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,720 shares of company stock valued at $213,799. Company insiders own 38.10% of the company’s stock.

About TriNet Group

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.