Victory Capital Management Inc. Has $1.56 Million Stock Holdings in TriNet Group, Inc. (NYSE:TNET)

Victory Capital Management Inc. lowered its position in TriNet Group, Inc. (NYSE:TNET) by 32.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,078 shares of the business services provider’s stock after selling 7,681 shares during the period. Victory Capital Management Inc.’s holdings in TriNet Group were worth $1,559,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TNET. Rothschild Investment LLC bought a new position in TriNet Group in the second quarter valued at approximately $45,000. Blue Trust Inc. grew its position in shares of TriNet Group by 24.9% in the second quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 104 shares during the last quarter. Avion Wealth increased its position in TriNet Group by 19.2% during the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after buying an additional 129 shares during the period. LRI Investments LLC acquired a new stake in TriNet Group during the first quarter worth approximately $81,000. Finally, Headlands Technologies LLC bought a new stake in TriNet Group during the second quarter worth about $93,000. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TriNet Group

In other TriNet Group news, 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 in the company, valued at $8,484,830.64. This represents a 5.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total value of $32,336.25. Following the transaction, the director now owns 37,591 shares of the company’s stock, valued at approximately $3,241,471.93. The trade was a 0.99 % 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.

TriNet Group Trading Up 1.1 %

Shares of TriNet Group stock opened at $94.03 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 7.70. The stock has a fifty day simple moving average of $93.41 and a 200 day simple moving average of $98.76. TriNet Group, Inc. has a 12-month low of $74.32 and a 12-month high of $134.67. The company has a market capitalization of $4.66 billion, a P/E ratio of 18.12 and a beta of 1.20.

TriNet Group Dividend Announcement

The firm 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. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Tuesday, October 1st. TriNet Group’s dividend payout ratio is presently 19.27%.

Analysts Set New Price Targets

TNET has been the subject of a number of research reports. Needham & Company LLC cut shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 target price for the company. in a report on Monday, October 28th. TD Cowen increased their price target on TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $103.00 price objective on shares of TriNet Group in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, TriNet Group presently has a consensus rating of “Hold” and an average target price of $117.00.

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.