GHP Investment Advisors Inc. Grows Stock Position in TriNet Group, Inc. (NYSE:TNET)

27 Oct 2024, 12:07 by Danessa Lincoln · The Markets Daily

GHP Investment Advisors Inc. grew its position in shares of TriNet Group, Inc. (NYSE:TNET – Free Report) by 5.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,543 shares of the business services provider’s stock after purchasing an additional 2,152 shares during the period. GHP Investment Advisors Inc. owned approximately 0.09% of TriNet Group worth $4,416,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TNET. Oliver Luxxe Assets LLC lifted its stake in shares of TriNet Group by 1.4% in the first quarter. Oliver Luxxe Assets LLC now owns 5,860 shares of the business services provider’s stock worth $776,000 after acquiring an additional 83 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of TriNet Group by 18.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 23,462 shares of the business services provider’s stock valued at $3,109,000 after purchasing an additional 3,646 shares in the last quarter. JLB & Associates Inc. raised its position in shares of TriNet Group by 0.6% in the 1st quarter. JLB & Associates Inc. now owns 34,391 shares of the business services provider’s stock valued at $4,556,000 after purchasing an additional 216 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of TriNet Group by 108.1% during the 1st quarter. Van ECK Associates Corp now owns 49,289 shares of the business services provider’s stock valued at $6,531,000 after buying an additional 25,606 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of TriNet Group by 23.2% during the first quarter. BNP Paribas Financial Markets now owns 43,952 shares of the business services provider’s stock worth $5,823,000 after buying an additional 8,275 shares in the last quarter. 96.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

TriNet Group Stock Performance

TriNet Group stock opened at $80.31 on Friday. 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, Inc. has a 12 month low of $74.32 and a 12 month high of $134.67. The company has a fifty day moving average price of $96.79 and a two-hundred day moving average price of $102.72. The company has a market cap of $3.99 billion, a PE ratio of 13.57 and a beta of 1.17.

TriNet Group (NYSE:TNET – Get Free Report) last announced its quarterly earnings data on Friday, October 25th. The business services provider reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.14). The business had revenue of $288.00 million for the quarter, compared to the consensus estimate of $297.94 million. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. Research analysts expect that TriNet Group, Inc. will post 5.13 earnings per share for the current year.

TriNet Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Tuesday, October 1st. TriNet Group’s payout ratio is 16.89%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TNET. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price objective on shares of TriNet Group in a research note on Wednesday, September 11th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $103.00 target price on shares of TriNet Group in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $118.40.

Check Out Our Latest Stock Analysis on TriNet Group

About TriNet Group

(Free Report)