Brokerages Set TriNet Group, Inc. (NYSE:TNET) Target Price at $118.40

TriNet Group, Inc. (NYSE:TNET) has earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $118.40.

A number of research firms have recently commented on TNET. JPMorgan Chase & Co. dropped their price objective on TriNet Group from $107.00 to $103.00 and set an “underweight” rating on the stock in a report on Tuesday, August 20th. Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of TriNet Group in a report on Wednesday, September 11th. Finally, TD Cowen lowered their target price on shares of TriNet Group from $132.00 to $118.00 and set a “buy” rating for the company in a report on Monday, June 24th.

TriNet Group Stock Up 0.6 %

Shares of TriNet Group stock opened at $96.21 on Monday. TriNet Group has a 52-week low of $91.59 and a 52-week high of $134.67. The company has a 50 day moving average of $99.11 and a 200 day moving average of $107.94. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 9.84. The company has a market capitalization of $4.78 billion, a P/E ratio of 15.77 and a beta of 1.17.

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

TriNet Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Tuesday, October 1st. TriNet Group’s dividend payout ratio is currently 16.39%.

Insider Transactions at TriNet Group

In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the transaction, the chief financial officer now directly owns 82,409 shares in the company, valued at $8,484,830.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction 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 directly owns 37,966 shares of the company’s stock, valued at approximately $4,043,379. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group 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 sale, the chief financial officer now owns 82,409 shares of the company’s stock, valued at $8,484,830.64. 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

Several hedge funds and other institutional investors have recently bought and sold shares of TNET. Oliver Luxxe Assets LLC grew its stake in TriNet Group by 1.4% in the 1st 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 during the period. Jennison Associates LLC grew its stake in shares of TriNet Group by 1.8% during the first quarter. Jennison Associates LLC now owns 5,663 shares of the business services provider’s stock valued at $750,000 after acquiring an additional 99 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of TriNet Group by 24.9% during the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock valued at $52,000 after buying an additional 104 shares during the last quarter. Avion Wealth grew its position in shares of TriNet Group by 19.2% during the second quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after buying an additional 129 shares in the last quarter. Finally, SummerHaven Investment Management LLC raised its holdings in TriNet Group by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 8,222 shares of the business services provider’s stock valued at $822,000 after acquiring an additional 142 shares in the last quarter. 96.81% of the stock is owned by institutional investors and hedge funds.

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.