TriNet Group, Inc. (NYSE:TNET) Raises Dividend to $0.28 Per Share

TriNet Group, Inc. (NYSE:TNET) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Stockholders of record on Tuesday, April 1st will be paid a dividend of 0.275 per share by the business services provider on Monday, April 28th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.39%. This is a 10.0% increase from TriNet Group’s previous quarterly dividend of $0.25.

TriNet Group has a payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TriNet Group to earn $3.50 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 28.6%.

TriNet Group Trading Down 0.3 %

TriNet Group stock traded down $0.22 during midday trading on Thursday, reaching $78.90. 390,412 shares of the stock traded hands, compared to its average volume of 334,768. The company has a 50-day simple moving average of $83.17 and a two-hundred day simple moving average of $89.74. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16. TriNet Group has a 12-month low of $65.43 and a 12-month high of $134.67. The firm has a market cap of $3.91 billion, a PE ratio of 23.07 and a beta of 1.26.

TriNet Group (NYSE:TNET) last released its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. The business had revenue of $252.00 million during the quarter, compared to the consensus estimate of $225.72 million. Research analysts expect that TriNet Group will post 3.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TriNet Group news, Director Paul Edward Chamberlain sold 600 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $41,616.00. Following the completion of the transaction, the director now owns 36,991 shares of the company’s stock, valued at $2,565,695.76. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $94,607.04. Following the sale, the chief technology officer now owns 19,867 shares in the company, valued at approximately $1,377,975.12. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,748 shares of company stock worth $833,436. Corporate insiders own 37.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TNET. TD Cowen lowered shares of TriNet Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $104.00 to $74.00 in a report on Tuesday, February 18th. Needham & Company LLC reissued a “hold” rating on shares of TriNet Group in a report on Thursday, March 13th.

TriNet Group Company 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.