TriNet Group, Inc. $TNET Position Boosted by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 27.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,619 shares of the business services provider’s stock after acquiring an additional 17,803 shares during the period. Allianz Asset Management GmbH owned approximately 0.17% of TriNet Group worth $5,459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its position in TriNet Group by 19.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,353,004 shares of the business services provider’s stock worth $157,392,000 after purchasing an additional 387,940 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of TriNet Group by 758.6% in the second quarter. Hsbc Holdings PLC now owns 35,247 shares of the business services provider’s stock valued at $2,563,000 after buying an additional 31,142 shares during the period. Heron Bay Capital Management lifted its holdings in shares of TriNet Group by 28.2% in the second quarter. Heron Bay Capital Management now owns 78,620 shares of the business services provider’s stock valued at $5,750,000 after buying an additional 17,287 shares during the period. Entropy Technologies LP bought a new position in TriNet Group during the second quarter valued at about $492,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in TriNet Group in the second quarter worth about $1,098,000. Institutional investors own 96.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TNET. Weiss Ratings restated a “sell (d+)” rating on shares of TriNet Group in a research report on Wednesday, January 21st. Zacks Research lowered shares of TriNet Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Truist Financial started coverage on shares of TriNet Group in a research report on Friday, December 5th. They issued a “hold” rating and a $62.00 price target on the stock. TD Cowen dropped their price target on TriNet Group from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, January 8th. Finally, UBS Group reduced their price objective on TriNet Group from $69.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $63.50.

Insider Activity

In other news, CTO Jeffery Jon Hayward sold 1,437 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $57.51, for a total value of $82,641.87. Following the completion of the sale, the chief technology officer directly owned 27,922 shares of the company’s stock, valued at $1,605,794.22. This represents a 4.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sidney A. Majalya sold 775 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $61.86, for a total transaction of $47,941.50. Following the completion of the transaction, the senior vice president owned 19,853 shares in the company, valued at approximately $1,228,106.58. This represents a 3.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,798 shares of company stock worth $162,593 in the last 90 days. Company insiders own 37.10% of the company’s stock.

TriNet Group Trading Down 2.9%

NYSE TNET opened at $51.35 on Wednesday. The firm’s 50 day moving average price is $59.39 and its two-hundred day moving average price is $62.30. The company has a debt-to-equity ratio of 8.14, a quick ratio of 1.11 and a current ratio of 1.11. TriNet Group, Inc. has a twelve month low of $51.26 and a twelve month high of $94.54. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 18.95 and a beta of 0.81.

TriNet Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 2nd were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, January 2nd. TriNet Group’s payout ratio is 40.59%.

About TriNet Group

TriNet Group, Inc is a leading professional employer organization (PEO) that offers integrated human capital management solutions to small and medium-size businesses. Through a bundled suite of services, TriNet manages payroll administration, employee benefits, workers’ compensation, risk mitigation and federal and state compliance. Its cloud-based platform provides clients with centralized access to HR tools, analytics and streamlined workforce management capabilities.

Founded in 1988 and headquartered in Dublin, California, TriNet has grown to support thousands of organizations across the United States.