DekaBank Deutsche Girozentrale Sells 5,353 Shares of TriNet Group, Inc. $TNET

DekaBank Deutsche Girozentrale cut its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 13.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,743 shares of the business services provider’s stock after selling 5,353 shares during the period. DekaBank Deutsche Girozentrale owned 0.07% of TriNet Group worth $2,417,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Allianz Asset Management GmbH raised its holdings in shares of TriNet Group by 96.9% in the second quarter. Allianz Asset Management GmbH now owns 63,816 shares of the business services provider’s stock worth $4,668,000 after buying an additional 31,405 shares during the last quarter. Bayforest Capital Ltd grew its position in TriNet Group by 30.7% during the second quarter. Bayforest Capital Ltd now owns 16,991 shares of the business services provider’s stock valued at $1,243,000 after buying an additional 3,990 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of TriNet Group by 3.0% during the second quarter. Verdence Capital Advisors LLC now owns 6,481 shares of the business services provider’s stock worth $474,000 after purchasing an additional 188 shares in the last quarter. CWM LLC increased its stake in shares of TriNet Group by 140.5% during the second quarter. CWM LLC now owns 582 shares of the business services provider’s stock worth $43,000 after purchasing an additional 340 shares in the last quarter. Finally, KLP Kapitalforvaltning AS increased its stake in shares of TriNet Group by 78.0% during the second quarter. KLP Kapitalforvaltning AS now owns 17,800 shares of the business services provider’s stock worth $1,302,000 after purchasing an additional 7,800 shares in the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.

TriNet Group Trading Up 1.0%

NYSE TNET opened at $63.34 on Friday. TriNet Group, Inc. has a 52 week low of $57.83 and a 52 week high of $98.51. The firm has a 50 day moving average of $66.77 and a two-hundred day moving average of $72.23. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 8.36. The stock has a market capitalization of $3.08 billion, a PE ratio of 21.77 and a beta of 0.79.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Friday, July 25th. The business services provider reported $1.15 earnings per share 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 business had revenue of $282.90 million for the quarter, compared to analyst estimates of $278.93 million. During the same period last year, the business earned $1.53 EPS. As a group, research analysts expect that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Wednesday, October 1st will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, October 1st. TriNet Group’s dividend payout ratio (DPR) is presently 37.80%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of TriNet Group in a research note on Friday. JPMorgan Chase & Co. lowered their price target on shares of TriNet Group from $76.00 to $75.00 and set an “underweight” rating on the stock in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $96.33.

Insiders Place Their Bets

In other news, Director Ralph A. Clark sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $66.42, for a total value of $199,260.00. Following the completion of the transaction, the director owned 9,390 shares in the company, valued at approximately $623,683.80. This represents a 24.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Sidney A. Majalya sold 775 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president owned 20,933 shares of the company’s stock, valued at approximately $1,380,112.69. This trade represents a 3.57% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,170 shares of company stock worth $611,708. 38.10% of the stock is currently owned by insiders.

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.