TriNet Group (NYSE:TNET) Reaches New 52-Week Low – Here’s What Happened

by · The Markets Daily

TriNet Group, Inc. (NYSE:TNET – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $91.17 and last traded at $91.18, with a volume of 112015 shares. The stock had previously closed at $93.79.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price target on shares of TriNet Group in a research note on Wednesday, September 11th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $103.00 price target on shares of TriNet Group in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $118.40.

Read Our Latest Analysis on TNET

TriNet Group Stock Up 1.4 %

The firm’s 50-day moving average price is $97.18 and its 200 day moving average price is $103.41. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 15.55 and a beta of 1.17. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.04 and a quick ratio of 1.04.

TriNet Group (NYSE:TNET – Get Free Report) last released its quarterly earnings results on Friday, July 26th. The business services provider reported $1.27 EPS for the quarter, beating the consensus estimate of $0.98 by $0.29. The business had revenue of $310.00 million for the quarter, compared to analyst estimates of $301.76 million. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. Sell-side analysts expect that TriNet Group, Inc. will post 5.13 EPS for the current year.

TriNet Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Tuesday, October 1st. TriNet Group’s payout ratio is 16.89%.

Insider Activity at TriNet Group

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total transaction of $482,161.68. Following the transaction, the chief financial officer now owns 82,409 shares of the company’s stock, valued at approximately $8,484,830.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total transaction of $39,937.50. Following the transaction, the director now owns 37,966 shares of the company’s stock, valued at $4,043,379. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total transaction of $482,161.68. Following the transaction, the chief financial officer now directly owns 82,409 shares in the company, valued at approximately $8,484,830.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 37.10% of the company’s stock.

Hedge Funds Weigh In On TriNet Group

Large investors have recently bought and sold shares of the stock. Rothschild Investment LLC purchased a new position in TriNet Group during the second quarter worth approximately $45,000. Blue Trust Inc. raised its stake in TriNet Group by 24.9% during the second quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock worth $52,000 after purchasing an additional 104 shares during the period. Avion Wealth increased its position in shares of TriNet Group by 19.2% in the second quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after acquiring an additional 129 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of TriNet Group in the first quarter worth $81,000. Finally, Headlands Technologies LLC acquired a new stake in shares of TriNet Group in the second quarter worth $93,000. Hedge funds and other institutional investors own 96.81% of the company’s stock.

TriNet Group Company Profile

(Get Free Report)

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.

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