Hsbc Holdings PLC Cuts Position in TriNet Group, Inc. $TNET

Hsbc Holdings PLC lessened its holdings in TriNet Group, Inc. (NYSE:TNET) by 93.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,105 shares of the business services provider’s stock after selling 60,529 shares during the period. Hsbc Holdings PLC’s holdings in TriNet Group were worth $326,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its stake in shares of TriNet Group by 11.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,123,201 shares of the business services provider’s stock valued at $168,242,000 after purchasing an additional 225,196 shares in the last quarter. Wellington Management Group LLP boosted its holdings in TriNet Group by 24.3% in the 1st quarter. Wellington Management Group LLP now owns 2,021,749 shares of the business services provider’s stock worth $160,203,000 after buying an additional 394,847 shares during the last quarter. American Century Companies Inc. boosted its holdings in TriNet Group by 183.3% in the 1st quarter. American Century Companies Inc. now owns 858,205 shares of the business services provider’s stock worth $68,004,000 after buying an additional 555,258 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in TriNet Group by 5.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 519,774 shares of the business services provider’s stock worth $41,187,000 after buying an additional 25,938 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in TriNet Group in the 1st quarter worth about $27,037,000. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ralph A. Clark sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $66.42, for a total value of $199,260.00. Following the transaction, the director directly owned 9,390 shares in the company, valued at approximately $623,683.80. This represents a 24.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jeffery Jon Hayward sold 1,437 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.80, for a total value of $98,865.60. Following the completion of the transaction, the chief technology officer owned 30,424 shares in the company, valued at $2,093,171.20. This represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,395 shares of company stock valued at $560,612. Insiders own 37.10% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their price objective on TriNet Group from $76.00 to $75.00 and set an “underweight” rating on the stock in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, TriNet Group has a consensus rating of “Reduce” and an average price target of $96.33.

TriNet Group Price Performance

TNET stock opened at $71.33 on Thursday. 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 business has a 50 day simple moving average of $68.31 and a 200-day simple moving average of $74.61. The firm has a market capitalization of $3.47 billion, a PE ratio of 24.51 and a beta of 0.84. TriNet Group, Inc. has a 1 year low of $62.55 and a 1 year high of $100.05.

TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Friday, July 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. The business had revenue of $282.90 million during the quarter, compared to analyst estimates of $278.93 million. TriNet Group had a return on equity of 208.35% and a net margin of 2.85%.During the same period in the prior year, the business earned $1.53 earnings per share. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. Equities research analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Tuesday, July 1st were given a $0.275 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.5%. TriNet Group’s dividend payout ratio is 37.80%.

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.