TriNet Group, Inc. (NYSE:TNET – Get Free Report) announced a quarterly dividend on Monday, June 24th, Wall Street Journal reports. Stockholders of record on Monday, July 1st will be given a dividend of 0.25 per share by the business services provider on Monday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, July 1st.
TriNet Group has a dividend payout ratio of 14.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TriNet Group to earn $5.55 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 18.0%.
TriNet Group Price Performance
NYSE:TNET opened at $100.00 on Friday. TriNet Group has a 52 week low of $90.55 and a 52 week high of $134.67. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 6.88. The stock has a market capitalization of $5.06 billion, a PE ratio of 16.39 and a beta of 1.19. The stock’s 50-day moving average price is $105.62 and its 200-day moving average price is $116.66.
Insider Transactions at TriNet Group
In other news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total transaction of $37,882.50. Following the transaction, the director now directly owns 36,341 shares in the company, valued at approximately $3,671,167.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $101.02, for a total transaction of $37,882.50. Following the sale, the director now owns 36,341 shares of the company’s stock, valued at approximately $3,671,167.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Alexander G. Warren sold 1,867 shares of TriNet Group stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $103.74, for a total transaction of $193,682.58. Following the sale, the senior vice president now directly owns 32,661 shares in the company, valued at approximately $3,388,252.14. The disclosure for this sale can be found here. Insiders own 37.10% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on TNET shares. StockNews.com cut TriNet Group from a “buy” rating to a “hold” rating in a report on Monday, April 29th. TD Cowen lowered their price objective on TriNet Group from $132.00 to $118.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Finally, Needham & Company LLC lowered their price objective on TriNet Group from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $113.83.
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.
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