KLP Kapitalforvaltning AS Buys 7,800 Shares of TriNet Group, Inc. $TNET

KLP Kapitalforvaltning AS raised its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 78.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 17,800 shares of the business services provider’s stock after purchasing an additional 7,800 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in TriNet Group were worth $1,302,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TNET. Hilltop National Bank bought a new position in shares of TriNet Group during the 2nd quarter worth about $43,000. PNC Financial Services Group Inc. increased its stake in TriNet Group by 58.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,291 shares of the business services provider’s stock valued at $182,000 after acquiring an additional 845 shares during the period. AlphaQuest LLC increased its stake in TriNet Group by 633.5% in the first quarter. AlphaQuest LLC now owns 2,472 shares of the business services provider’s stock valued at $196,000 after acquiring an additional 2,135 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in TriNet Group in the first quarter valued at about $206,000. Finally, Xponance Inc. increased its stake in TriNet Group by 6.4% in the first quarter. Xponance Inc. now owns 2,613 shares of the business services provider’s stock valued at $207,000 after acquiring an additional 157 shares during the period. Institutional investors own 96.81% of the company’s stock.

Insider Buying and Selling at TriNet Group

In other news, Director Paul Edward Chamberlain sold 600 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $64.18, for a total transaction of $38,508.00. Following the sale, the director directly owned 38,440 shares of the company’s stock, valued at $2,467,079.20. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Sidney A. Majalya sold 775 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $65.93, for a total transaction of $51,095.75. Following the sale, the senior vice president directly owned 20,933 shares in the company, valued at $1,380,112.69. This trade represents a 3.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,170 shares of company stock valued at $611,708 over the last three months. Insiders own 37.10% of the company’s stock.

TriNet Group Stock Performance

NYSE:TNET opened at $62.53 on Tuesday. TriNet Group, Inc. has a 1 year low of $61.26 and a 1 year high of $99.78. The firm has a 50 day moving average of $67.24 and a 200-day moving average of $73.10. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 8.36. The stock has a market capitalization of $3.04 billion, a P/E ratio of 21.49 and a beta of 0.79.

TriNet Group (NYSE:TNET) last posted its 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. TriNet Group had a net margin of 2.85% and a return on equity of 208.35%. The company had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $278.93 million. During the same quarter in the previous year, the company posted $1.53 earnings per share. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. As a group, sell-side analysts anticipate that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 1st. TriNet Group’s dividend payout ratio is 37.80%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TNET. Weiss Ratings reissued a “sell (d+)” rating on shares of TriNet Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on shares of TriNet Group from $76.00 to $75.00 and set an “underweight” rating on the stock in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, TriNet Group currently has an average rating of “Reduce” and a consensus target price of $96.33.

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.