Paralel Advisors LLC Sells 6,495 Shares of TriNet Group, Inc. (NYSE:TNET)

Paralel Advisors LLC decreased its holdings in TriNet Group, Inc. (NYSE:TNET) by 27.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,229 shares of the business services provider’s stock after selling 6,495 shares during the period. Paralel Advisors LLC’s holdings in TriNet Group were worth $1,723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its stake in TriNet Group by 2.0% during the second quarter. Arizona State Retirement System now owns 9,203 shares of the business services provider’s stock valued at $920,000 after acquiring an additional 180 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of TriNet Group by 6.7% in the second quarter. Victory Capital Management Inc. now owns 23,759 shares of the business services provider’s stock worth $2,376,000 after buying an additional 1,485 shares in the last quarter. Chase Investment Counsel Corp purchased a new position in TriNet Group during the 2nd quarter valued at approximately $875,000. Rhumbline Advisers increased its stake in TriNet Group by 4.3% in the 2nd quarter. Rhumbline Advisers now owns 49,253 shares of the business services provider’s stock worth $4,925,000 after acquiring an additional 2,051 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of TriNet Group during the 2nd quarter worth approximately $45,000. Institutional investors own 96.81% of the company’s stock.

TriNet Group Stock Down 3.2 %

Shares of TNET stock traded down $3.12 during mid-day trading on Friday, hitting $94.07. The stock had a trading volume of 268,188 shares, compared to its average volume of 226,587. The firm has a market capitalization of $4.76 billion, a P/E ratio of 15.42 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, Inc. has a 12-month low of $91.59 and a 12-month high of $134.67. The firm’s 50-day moving average is $100.68 and its two-hundred day moving average is $110.80.

TriNet Group (NYSE:TNET) last issued its earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.29. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. The company had revenue of $310.00 million for the quarter, compared to analysts’ expectations of $301.76 million. On average, analysts predict that TriNet Group, Inc. will post 5.13 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 1st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. TriNet Group’s dividend payout ratio is currently 16.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TNET shares. JPMorgan Chase & Co. reduced their price target on shares of TriNet Group from $107.00 to $103.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 20th. TD Cowen decreased their target price on shares of TriNet Group from $132.00 to $118.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price target on shares of TriNet Group in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $118.40.

Insider Buying and Selling at TriNet Group

In related news, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total transaction of $39,937.50. Following the completion of the sale, the director now directly owns 37,966 shares in the company, valued at approximately $4,043,379. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $8,484,830.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total value of $39,937.50. Following the completion of the sale, the director now directly owns 37,966 shares of the company’s stock, valued at approximately $4,043,379. The disclosure for this sale can be found here. Insiders own 37.10% of the company’s stock.

TriNet Group Profile

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.