Massachusetts Financial Services Co. MA Has $156.02 Million Stock Position in TriNet Group, Inc. (NYSE:TNET)

Massachusetts Financial Services Co. MA boosted its holdings in TriNet Group, Inc. (NYSE:TNET) by 32.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,608,934 shares of the business services provider’s stock after purchasing an additional 391,720 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in TriNet Group were worth $156,018,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of TriNet Group by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 2,838,347 shares of the business services provider’s stock worth $376,053,000 after buying an additional 52,240 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in TriNet Group by 2.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 28,226 shares of the business services provider’s stock worth $3,746,000 after acquiring an additional 778 shares in the last quarter. LRI Investments LLC acquired a new stake in TriNet Group in the first quarter worth $81,000. Price T Rowe Associates Inc. MD increased its stake in TriNet Group by 960.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 236,003 shares of the business services provider’s stock valued at $31,269,000 after purchasing an additional 213,752 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of TriNet Group by 2.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 375,593 shares of the business services provider’s stock valued at $49,762,000 after purchasing an additional 8,204 shares during the period. 96.81% of the stock is owned by institutional investors and hedge funds.

TriNet Group Trading Up 0.7 %

TNET opened at $93.00 on Friday. TriNet Group, Inc. has a fifty-two week low of $74.32 and a fifty-two week high of $134.67. The firm has a market capitalization of $4.61 billion, a PE ratio of 17.92 and a beta of 1.20. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07. The company’s 50-day moving average is $93.41 and its 200 day moving average is $98.83.

TriNet Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st were issued a $0.25 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. TriNet Group’s dividend payout ratio is presently 19.27%.

Wall Street Analyst Weigh In

TNET has been the subject of several research reports. JPMorgan Chase & Co. restated an “underweight” rating and issued a $103.00 target price on shares of TriNet Group in a research note on Tuesday, October 22nd. Needham & Company LLC cut TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research note on Monday, October 28th. Finally, TD Cowen upped their target price on TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $117.00.

Insider Activity at TriNet Group

In other news, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total value of $32,336.25. Following the completion of the transaction, the director now directly owns 37,591 shares of the company’s stock, valued at $3,241,471.93. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction that occurred 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 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 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.10% of the stock is owned by insiders.

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.