TriNet Group (NYSE:TNET) Given “Underweight” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their underweight rating on shares of TriNet Group (NYSE:TNET) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has a $103.00 target price on the business services provider’s stock.

Other research analysts have also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and set a $140.00 target price on shares of TriNet Group in a research note on Wednesday, September 11th. TD Cowen reduced their target price on shares of TriNet Group from $132.00 to $118.00 and set a “buy” rating on the stock in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $118.40.

TriNet Group Stock Down 12.4 %

Shares of NYSE:TNET opened at $80.29 on Tuesday. The firm has a market capitalization of $3.99 billion, a PE ratio of 13.56 and a beta of 1.17. TriNet Group has a 1 year low of $74.32 and a 1 year high of $134.67. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s 50-day moving average is $96.79 and its two-hundred day moving average is $102.91.

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

TriNet Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. TriNet Group’s dividend payout ratio is presently 16.89%.

Insider Activity

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Paul Edward Chamberlain sold 375 shares of the 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 completion of the sale, the director now owns 37,966 shares in the company, valued at $4,043,379. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the firm’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 in the company, valued at $8,484,830.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 37.10% of the company’s stock.

Hedge Funds Weigh In On TriNet Group

A number of hedge funds and other institutional investors have recently made changes to their positions in TNET. BNP Paribas Financial Markets lifted its position in TriNet Group by 23.2% during the 1st quarter. BNP Paribas Financial Markets now owns 43,952 shares of the business services provider’s stock worth $5,823,000 after acquiring an additional 8,275 shares during the period. Wedge Capital Management L L P NC grew its position in 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 buying an additional 20,680 shares during the last quarter. Boston Partners increased its stake in TriNet Group by 20.8% in the 1st quarter. Boston Partners now owns 108,157 shares of the business services provider’s stock valued at $14,319,000 after buying an additional 18,586 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of TriNet Group by 276.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,439 shares of the business services provider’s stock worth $944,000 after acquiring an additional 6,933 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of TriNet Group by 108.1% in the first quarter. Van ECK Associates Corp now owns 49,289 shares of the business services provider’s stock valued at $6,531,000 after acquiring an additional 25,606 shares in the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

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.