Heron Bay Capital Management Takes $4.27 Million Position in TriNet Group, Inc. (NYSE:TNET)

Heron Bay Capital Management bought a new stake in TriNet Group, Inc. (NYSE:TNET) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 47,049 shares of the business services provider’s stock, valued at approximately $4,271,000.

Several other large investors also recently bought and sold shares of TNET. TD Private Client Wealth LLC boosted its holdings in shares of TriNet Group by 25.5% during the third quarter. TD Private Client Wealth LLC now owns 595 shares of the business services provider’s stock worth $58,000 after purchasing an additional 121 shares during the last quarter. IFP Advisors Inc lifted its position in TriNet Group by 45.5% during the 4th quarter. IFP Advisors Inc now owns 767 shares of the business services provider’s stock worth $71,000 after acquiring an additional 240 shares in the last quarter. KBC Group NV boosted its holdings in TriNet Group by 26.5% in the 3rd quarter. KBC Group NV now owns 950 shares of the business services provider’s stock worth $92,000 after acquiring an additional 199 shares during the period. Avion Wealth grew its position in TriNet Group by 14.9% in the fourth quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock valued at $98,000 after acquiring an additional 140 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of TriNet Group by 118.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,446 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 785 shares during the period. Institutional investors and hedge funds own 96.81% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at TriNet Group

In other TriNet Group news, Director Paul Edward Chamberlain sold 600 shares of TriNet Group stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $41,616.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the company’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 $94,607.04. Following the completion of the transaction, the chief technology officer now directly owns 19,867 shares in the company, valued at $1,377,975.12. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,748 shares of company stock valued at $833,436. Corporate insiders own 37.10% of the company’s stock.

TriNet Group Stock Down 2.8 %

TriNet Group stock opened at $76.67 on Friday. TriNet Group, Inc. has a 52 week low of $65.43 and a 52 week high of $134.67. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 22.42 and a beta of 1.26. The company’s 50-day moving average price is $82.68 and its two-hundred day moving average price is $89.41. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16.

TriNet Group (NYSE:TNET) last released its earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. The firm had revenue of $252.00 million during the quarter, compared to the consensus estimate of $225.72 million. On average, analysts expect that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a $0.275 dividend. This is a positive change from TriNet Group’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, April 1st. This represents a $1.10 annualized dividend and a yield of 1.43%. TriNet Group’s payout ratio is 32.16%.

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.