TriNet Group, Inc. (NYSE:TNET) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its position in TriNet Group, Inc. (NYSE:TNET) by 4.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 162,369 shares of the business services provider’s stock after buying an additional 6,936 shares during the period. Wedge Capital Management L L P NC’s holdings in TriNet Group were worth $14,738,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in TNET. Massachusetts Financial Services Co. MA increased its holdings 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 valued at $156,018,000 after purchasing an additional 391,720 shares during the period. Point72 Asset Management L.P. acquired a new position in TriNet Group during the 2nd quarter valued at about $20,610,000. Wellington Management Group LLP raised its position in shares of TriNet Group by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,321,737 shares of the business services provider’s stock worth $128,169,000 after buying an additional 184,186 shares in the last quarter. Simcoe Capital Management LLC acquired a new position in shares of TriNet Group during the third quarter valued at approximately $16,966,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in TriNet Group by 41.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 550,404 shares of the business services provider’s stock worth $53,373,000 after purchasing an additional 162,578 shares during the period. Institutional investors and hedge funds own 96.81% of the company’s stock.

TriNet Group Trading Down 1.9 %

TriNet Group stock opened at $90.49 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 7.70. TriNet Group, Inc. has a 12 month low of $74.32 and a 12 month high of $134.67. The company’s fifty day simple moving average is $92.15 and its 200-day simple moving average is $95.52. The stock has a market cap of $4.49 billion, a P/E ratio of 17.43 and a beta of 1.21.

TriNet Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, January 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. TriNet Group’s dividend payout ratio is 19.27%.

Analyst Ratings Changes

TNET has been the topic of several recent research reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $103.00 price objective on shares of TriNet Group in a research note on Tuesday, October 22nd. Needham & Company LLC lowered 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 boosted 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, November 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $117.00.

Insider Buying and Selling

In other news, CTO Jeffery Jon Hayward sold 2,345 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was 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. The trade was a 6.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,317 shares of company stock worth $1,115,842. 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.