Cornerstone Investment Partners LLC Has $665,000 Position in TriNet Group, Inc. (NYSE:TNET)

Cornerstone Investment Partners LLC raised its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 28.6% during the 4th quarter, HoldingsChannel reports. The firm owned 7,327 shares of the business services provider’s stock after purchasing an additional 1,628 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in TriNet Group were worth $665,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TNET. TD Private Client Wealth LLC grew its stake in shares of TriNet Group by 25.5% in the third quarter. TD Private Client Wealth LLC now owns 595 shares of the business services provider’s stock worth $58,000 after acquiring an additional 121 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of TriNet Group by 45.5% during the fourth quarter. IFP Advisors Inc now owns 767 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 240 shares during the period. KBC Group NV lifted its holdings in shares of TriNet Group by 26.5% during the third quarter. KBC Group NV now owns 950 shares of the business services provider’s stock valued at $92,000 after acquiring an additional 199 shares during the period. Avion Wealth lifted its holdings in shares of TriNet Group by 14.9% during the fourth quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock valued at $98,000 after acquiring an additional 140 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in shares of TriNet Group in the fourth quarter valued at about $230,000. Institutional investors and hedge funds own 96.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. TD Cowen cut TriNet Group from a “buy” rating to a “hold” rating and cut their price target for the company from $104.00 to $74.00 in a report on Tuesday, February 18th. Needham & Company LLC restated a “hold” rating on shares of TriNet Group in a research report on Friday, February 14th.

Insider Activity at TriNet Group

In other news, Director Paul Edward Chamberlain sold 600 shares of TriNet Group stock in a transaction 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 sale, the director now owns 36,991 shares of the company’s stock, valued at approximately $2,565,695.76. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeffery Jon Hayward sold 7,784 shares of TriNet Group stock in a transaction on Monday, January 13th. The stock was sold at an average price of $89.57, for a total value of $697,212.88. Following the sale, the chief technology officer now directly owns 21,769 shares of the company’s stock, valued at $1,949,849.33. This represents a 26.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,748 shares of company stock valued at $833,436. 37.10% of the stock is owned by corporate insiders.

TriNet Group Stock Performance

Shares of TNET stock opened at $72.77 on Tuesday. The company has a debt-to-equity ratio of 13.16, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $3.60 billion, a P/E ratio of 21.28 and a beta of 1.21. The company’s 50 day moving average price is $86.82 and its two-hundred day moving average price is $91.74. TriNet Group, Inc. has a 52 week low of $65.43 and a 52 week high of $134.67.

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

TriNet Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Thursday, January 2nd were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.37%. TriNet Group’s dividend payout ratio is presently 29.24%.

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.