Wellington Management Group LLP Grows Stock Position in TriNet Group, Inc. (NYSE:TNET)

Wellington Management Group LLP increased its holdings in TriNet Group, Inc. (NYSE:TNET) by 16.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,321,737 shares of the business services provider’s stock after acquiring an additional 184,186 shares during the period. Wellington Management Group LLP owned approximately 2.67% of TriNet Group worth $128,169,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC raised its stake in shares of TriNet Group by 14.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 163,600 shares of the business services provider’s stock valued at $16,360,000 after acquiring an additional 20,680 shares during the period. Summit Global Investments purchased a new stake in TriNet Group in the third quarter valued at approximately $605,000. US Bancorp DE lifted its stake in TriNet Group by 9,893.1% during the third quarter. US Bancorp DE now owns 7,195 shares of the business services provider’s stock worth $698,000 after purchasing an additional 7,123 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of TriNet Group by 32.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider’s stock worth $156,018,000 after buying an additional 391,720 shares during the period. Finally, Simcoe Capital Management LLC acquired a new stake in shares of TriNet Group in the third quarter valued at $16,966,000. Institutional investors and hedge funds own 96.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TNET shares. TD Cowen increased their target price on TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Needham & Company LLC cut shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $103.00 price objective on shares of TriNet Group in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, TriNet Group currently has a consensus rating of “Hold” and a consensus target price of $117.00.

TriNet Group Stock Down 1.9 %

Shares of NYSE:TNET opened at $92.92 on Tuesday. TriNet Group, Inc. has a fifty-two week low of $74.32 and a fifty-two week high of $134.67. The firm’s 50 day moving average price is $92.71 and its 200 day moving average price is $97.98. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 7.70. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 17.90 and a beta of 1.21.

TriNet Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. TriNet Group’s dividend payout ratio (DPR) is currently 19.27%.

Insider Buying and Selling

In other news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $86.23, for a total transaction of $32,336.25. Following the completion of the sale, the director now owns 37,591 shares in the company, valued at approximately $3,241,471.93. The trade was a 0.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffery Jon Hayward sold 2,345 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $93.03, for a total transaction of $218,155.35. Following the completion of the transaction, the chief technology officer now directly owns 34,606 shares in the company, valued at $3,219,396.18. This trade represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,533 shares of company stock worth $418,629. Corporate 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.