Summit Investment Advisors Inc. Has $304,000 Stock Position in TriNet Group, Inc. (NYSE:TNET)

Summit Investment Advisors Inc. boosted its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,344 shares of the business services provider’s stock after buying an additional 149 shares during the quarter. Summit Investment Advisors Inc.’s holdings in TriNet Group were worth $304,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of TriNet Group by 201.0% during the 3rd quarter. Barclays PLC now owns 94,649 shares of the business services provider’s stock worth $9,179,000 after acquiring an additional 63,201 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of TriNet Group by 5.4% in the third quarter. Tidal Investments LLC now owns 5,121 shares of the business services provider’s stock valued at $495,000 after purchasing an additional 263 shares during the last quarter. Franklin Resources Inc. raised its position in shares of TriNet Group by 3.4% in the third quarter. Franklin Resources Inc. now owns 5,086 shares of the business services provider’s stock valued at $499,000 after purchasing an additional 169 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of TriNet Group by 11.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 385,335 shares of the business services provider’s stock worth $37,366,000 after buying an additional 39,351 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of TriNet Group by 4.2% during the 4th quarter. Nordea Investment Management AB now owns 160,991 shares of the business services provider’s stock worth $14,732,000 after buying an additional 6,420 shares during the period. Institutional investors own 96.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TNET. Needham & Company LLC restated a “hold” rating on shares of TriNet Group in a research report on Thursday, March 13th. TD Cowen downgraded TriNet Group from a “buy” rating to a “hold” rating and reduced their price target for the company from $104.00 to $74.00 in a research note on Tuesday, February 18th.

TriNet Group Stock Performance

NYSE TNET opened at $75.95 on Monday. TriNet Group, Inc. has a 12-month low of $65.43 and a 12-month high of $130.83. The firm has a 50-day moving average price of $76.05 and a two-hundred day moving average price of $86.50. The company has a market capitalization of $3.68 billion, a P/E ratio of 22.21 and a beta of 1.06. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 13.16.

TriNet Group (NYSE:TNET) last posted 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. The firm had revenue of $252.00 million for the quarter, compared to analyst estimates of $225.72 million. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. Analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from TriNet Group’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 1.45%. TriNet Group’s dividend payout ratio is presently 32.16%.

Insider Buying and Selling at TriNet Group

In related news, Director Paul Edward Chamberlain sold 600 shares of the firm’s 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 sale, the director now owns 36,991 shares of the company’s stock, valued at $2,565,695.76. This trade represents a 1.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total value of $94,607.04. Following the completion of the transaction, the chief technology officer now directly owns 19,867 shares of the company’s stock, valued at approximately $1,377,975.12. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 37.10% of the company’s stock.

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.