Reinhart Partners LLC. Increases Position in TriNet Group, Inc. (NYSE:TNET)

Reinhart Partners LLC. grew its holdings in TriNet Group, Inc. (NYSE:TNET) by 0.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 234,068 shares of the business services provider’s stock after buying an additional 1,113 shares during the period. Reinhart Partners LLC. owned 0.47% of TriNet Group worth $21,246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TNET. Summit Global Investments acquired a new position in shares of TriNet Group during the third quarter worth about $605,000. US Bancorp DE increased its stake in shares of TriNet Group by 9,893.1% during the third quarter. US Bancorp DE now owns 7,195 shares of the business services provider’s stock worth $698,000 after acquiring an additional 7,123 shares during the period. JPMorgan Chase & Co. increased its stake in shares of TriNet Group by 11.4% during the third quarter. JPMorgan Chase & Co. now owns 385,335 shares of the business services provider’s stock worth $37,366,000 after acquiring an additional 39,351 shares during the period. Massachusetts Financial Services Co. MA increased its stake 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 worth $156,018,000 after acquiring an additional 391,720 shares during the period. Finally, Simcoe Capital Management LLC acquired a new position in TriNet Group during the third quarter worth about $16,966,000. 96.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TNET. Needham & Company LLC downgraded shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a research note on Monday, October 28th. TD Cowen increased their price target on shares of TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $103.00 price target on shares of TriNet Group in a research note on Tuesday, October 22nd. One investment 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’s stock. Based on data from MarketBeat, TriNet Group currently has an average rating of “Hold” and a consensus price target of $117.00.

Insider Transactions at TriNet Group

In related news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $86.23, for a total value of $32,336.25. Following the sale, the director now directly owns 37,591 shares in the company, valued at $3,241,471.93. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeffery Jon Hayward sold 2,345 shares of TriNet Group stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $93.03, for a total transaction of $218,155.35. Following the completion of the sale, the chief technology officer now owns 34,606 shares in the company, valued at approximately $3,219,396.18. This represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,533 shares of company stock worth $418,629. 37.10% of the stock is currently owned by insiders.

TriNet Group Stock Up 2.1 %

TNET stock traded up $1.91 during mid-day trading on Monday, hitting $91.74. 85,028 shares of the company were exchanged, compared to its average volume of 238,736. The firm has a fifty day simple moving average of $91.86 and a 200 day simple moving average of $95.74. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 7.70. TriNet Group, Inc. has a twelve month low of $74.32 and a twelve month high of $134.67. The company has a market capitalization of $4.55 billion, a PE ratio of 17.68 and a beta of 1.21.

TriNet Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. TriNet Group’s payout ratio is currently 19.27%.

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.