Jennison Associates LLC Purchases New Position in TriNet Group, Inc. $TNET

Jennison Associates LLC acquired a new stake in TriNet Group, Inc. (NYSE:TNET) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,292 shares of the business services provider’s stock, valued at approximately $958,000.

Other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of TriNet Group by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,009 shares of the business services provider’s stock worth $1,506,000 after purchasing an additional 819 shares in the last quarter. Millennium Management LLC grew its stake in shares of TriNet Group by 3,995.7% in the first quarter. Millennium Management LLC now owns 138,926 shares of the business services provider’s stock valued at $11,008,000 after buying an additional 135,534 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of TriNet Group by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,575 shares of the business services provider’s stock valued at $6,068,000 after buying an additional 470 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of TriNet Group during the 1st quarter valued at about $3,204,000. Finally, Intech Investment Management LLC raised its holdings in shares of TriNet Group by 10.3% during the 1st quarter. Intech Investment Management LLC now owns 16,862 shares of the business services provider’s stock valued at $1,336,000 after buying an additional 1,577 shares during the period. 96.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on TNET. TD Cowen boosted their price target on TriNet Group from $46.00 to $49.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Truist Financial increased their price objective on shares of TriNet Group from $50.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of TriNet Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research note on Friday, May 1st. Zacks Research cut shares of TriNet Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 3rd. Finally, Weiss Ratings upgraded shares of TriNet Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $55.80.

TriNet Group Stock Up 0.2%

Shares of NYSE TNET opened at $60.08 on Thursday. TriNet Group, Inc. has a 1 year low of $33.60 and a 1 year high of $72.84. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 17.93 and a beta of 0.99. The company has a debt-to-equity ratio of 10.80, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s 50-day simple moving average is $49.21 and its 200-day simple moving average is $46.64.

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

TriNet Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Wednesday, July 1st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, July 1st. TriNet Group’s dividend payout ratio is presently 34.63%.

Insider Activity

In other 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 transaction of $40,548.18. Following the completion of the transaction, the senior vice president directly owned 67,678 shares in the company, valued at approximately $2,941,285.88. This represents a 1.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 40.00% of the stock is currently owned by insiders.

TriNet Group 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.