Mawer Investment Management Ltd. Decreases Stake in TriNet Group, Inc. (NYSE:TNET)

Mawer Investment Management Ltd. decreased its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 7.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,653,597 shares of the business services provider’s stock after selling 273,208 shares during the quarter. TriNet Group comprises approximately 1.6% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 20th largest holding. Mawer Investment Management Ltd. owned about 0.07% of TriNet Group worth $354,289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TNET. Quest Partners LLC grew its holdings in TriNet Group by 443.2% during the third quarter. Quest Partners LLC now owns 8,083 shares of the business services provider’s stock worth $784,000 after acquiring an additional 6,595 shares during the period. KBC Group NV boosted its stake 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 last quarter. GHE LLC lifted its position in TriNet Group by 7.1% during the third quarter. GHE LLC now owns 28,474 shares of the business services provider’s stock worth $2,579,000 after buying an additional 1,880 shares during the period. Chase Investment Counsel Corp lifted its position in TriNet Group by 59.5% during the third quarter. Chase Investment Counsel Corp now owns 13,400 shares of the business services provider’s stock worth $1,299,000 after buying an additional 5,000 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its position in TriNet Group by 11.3% during the third quarter. State of New Jersey Common Pension Fund D now owns 19,624 shares of the business services provider’s stock worth $1,903,000 after buying an additional 1,988 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.

TriNet Group Trading Down 0.4 %

Shares of TNET opened at $91.32 on Monday. TriNet Group, Inc. has a 12-month low of $74.32 and a 12-month high of $134.67. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 7.70. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 17.65 and a beta of 1.20. The stock’s 50-day moving average price is $93.81 and its 200 day moving average price is $99.16.

TriNet Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. TriNet Group’s dividend payout ratio is currently 19.27%.

Wall Street Analysts Forecast Growth

TNET has been the subject of a number of recent research reports. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $103.00 target price on shares of TriNet Group in a research note on Tuesday, October 22nd. TD Cowen cut their price target on TriNet Group from $110.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Needham & Company LLC downgraded TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price objective on the stock. in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, TriNet Group presently has a consensus rating of “Hold” and a consensus target price of $114.00.

Insider Activity

In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total transaction of $482,161.68. Following the transaction, the chief financial officer now owns 82,409 shares of the company’s stock, valued at approximately $8,484,830.64. This represents a 5.38 % decrease in their position. The transaction 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 company’s stock in a transaction 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 transaction, the director now directly owns 37,591 shares in the company, valued at approximately $3,241,471.93. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 37.10% of the company’s stock.

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.