Cannon Global Investment Management LLC Acquires 2,800 Shares of TriNet Group, Inc. (NYSE:TNET)

Cannon Global Investment Management LLC lifted its holdings in TriNet Group, Inc. (NYSE:TNET) by 80.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,300 shares of the business services provider’s stock after purchasing an additional 2,800 shares during the quarter. TriNet Group accounts for approximately 1.2% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 27th biggest holding. Cannon Global Investment Management LLC’s holdings in TriNet Group were worth $572,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TNET. TD Private Client Wealth LLC raised its stake in shares of TriNet Group by 25.5% during the 3rd 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 in the last quarter. IFP Advisors Inc raised its position in TriNet Group by 45.5% during the fourth 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. Avion Wealth lifted its stake 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 during the last quarter. KBC Group NV grew its position in shares of TriNet Group by 43.7% in the 4th quarter. KBC Group NV now owns 1,365 shares of the business services provider’s stock valued at $124,000 after acquiring an additional 415 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of TriNet Group by 118.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,446 shares of the business services provider’s stock worth $131,000 after purchasing an additional 785 shares during the last quarter. Institutional investors own 96.81% of the company’s stock.

Analysts Set New Price Targets

TNET has been the topic of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of TriNet Group in a research note on Thursday, March 13th. TD Cowen downgraded TriNet Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $104.00 to $74.00 in a research report on Tuesday, February 18th.

Insiders Place Their Bets

In other TriNet Group news, Director Paul Edward Chamberlain sold 600 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $41,616.00. Following the sale, the director now directly owns 36,991 shares in the company, valued at $2,565,695.76. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the stock in a transaction that occurred 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 sale, the chief technology officer now owns 19,867 shares in the company, valued at $1,377,975.12. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,748 shares of company stock worth $833,436 in the last quarter. Corporate insiders own 37.10% of the company’s stock.

TriNet Group Price Performance

TriNet Group stock opened at $76.67 on Monday. TriNet Group, Inc. has a 12 month low of $65.43 and a 12 month high of $134.67. The stock’s 50 day moving average is $82.68 and its 200-day moving average is $89.34. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 22.42 and a beta of 1.26.

TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.27 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $225.72 million. Equities research analysts expect that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group Increases Dividend

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

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.