Norges Bank Takes $28.27 Million Position in TriNet Group, Inc. $TNET

Norges Bank purchased a new stake in shares of TriNet Group, Inc. (NYSE:TNET) during the fourth quarter, Holdings Channel.com reports. The fund purchased 478,038 shares of the business services provider’s stock, valued at approximately $28,266,000.

A number of other institutional investors have also recently made changes to their positions in the company. Boston Partners purchased a new position in shares of TriNet Group during the 3rd quarter valued at $97,712,000. American Century Companies Inc. lifted its position in shares of TriNet Group by 14.4% during the 3rd quarter. American Century Companies Inc. now owns 1,327,636 shares of the business services provider’s stock valued at $88,806,000 after buying an additional 167,599 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its position in shares of TriNet Group by 14.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 849,863 shares of the business services provider’s stock valued at $56,847,000 after buying an additional 109,170 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of TriNet Group by 5,911,158.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 709,351 shares of the business services provider’s stock valued at $41,944,000 after buying an additional 709,339 shares during the last quarter. Finally, Man Group plc lifted its position in shares of TriNet Group by 286.6% during the 3rd quarter. Man Group plc now owns 468,897 shares of the business services provider’s stock valued at $31,365,000 after buying an additional 347,622 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TNET shares. TD Cowen increased their price objective on TriNet Group from $40.00 to $46.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Stifel Nicolaus dropped their price objective on TriNet Group from $97.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Zacks Research raised TriNet Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Weiss Ratings raised TriNet Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Finally, UBS Group dropped their price objective on TriNet Group from $62.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.20.

TriNet Group Stock Performance

Shares of TNET opened at $47.74 on Wednesday. The stock’s 50-day simple moving average is $41.27 and its 200 day simple moving average is $47.97. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 14.25 and a beta of 1.01. The company has a debt-to-equity ratio of 10.80, a quick ratio of 1.12 and a current ratio of 1.12. TriNet Group, Inc. has a 52-week low of $33.60 and a 52-week high of $83.36.

TriNet Group (NYSE:TNET) last announced its earnings results on Thursday, April 30th. The business services provider reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.64. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.08 billion. TriNet Group had a return on equity of 219.54% and a net margin of 3.22%.The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.99 EPS. TriNet Group has set its FY 2026 guidance at 3.700-4.700 EPS. Research analysts forecast that TriNet Group, Inc. will post 3.55 EPS for the current fiscal year.

TriNet Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Wednesday, April 1st were given a dividend of $0.29 per share. This is a boost from TriNet Group’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, April 1st. This represents a $1.16 annualized dividend and a dividend yield of 2.4%. TriNet Group’s dividend payout ratio is currently 34.63%.

TriNet Group declared that its board has approved a share buyback plan on Thursday, February 12th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the business services provider to buy up to 18.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other TriNet Group news, SVP Anthony Shea Treadway sold 933 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $43.46, for a total value of $40,548.18. Following the completion of the sale, the senior vice president owned 67,678 shares in the company, valued at approximately $2,941,285.88. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Sidney A. Majalya sold 775 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $37.02, for a total value of $28,690.50. Following the completion of the sale, the senior vice president owned 55,750 shares of the company’s stock, valued at approximately $2,063,865. This trade represents a 1.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 40.00% of the stock is currently owned by corporate insiders.

TriNet Group Company Profile

TriNet Group, Inc is a leading professional employer organization (PEO) that offers integrated human capital management solutions to small and medium-size businesses. Through a bundled suite of services, TriNet manages payroll administration, employee benefits, workers’ compensation, risk mitigation and federal and state compliance. Its cloud-based platform provides clients with centralized access to HR tools, analytics and streamlined workforce management capabilities.

Founded in 1988 and headquartered in Dublin, California, TriNet has grown to support thousands of organizations across the United States.