Oppenheimer Asset Management Inc. Trims Stock Holdings in TriNet Group, Inc. $TNET

Oppenheimer Asset Management Inc. reduced its holdings in shares of TriNet Group, Inc. (NYSE:TNET) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,902 shares of the business services provider’s stock after selling 393 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in TriNet Group were worth $1,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Linden Thomas Advisory Services LLC raised its holdings in TriNet Group by 86.7% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 15,826 shares of the business services provider’s stock valued at $1,158,000 after acquiring an additional 7,350 shares during the period. Paralel Advisors LLC grew its position in shares of TriNet Group by 77.9% in the second quarter. Paralel Advisors LLC now owns 33,715 shares of the business services provider’s stock valued at $2,466,000 after purchasing an additional 14,766 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of TriNet Group by 96.9% in the second quarter. Allianz Asset Management GmbH now owns 63,816 shares of the business services provider’s stock valued at $4,668,000 after purchasing an additional 31,405 shares in the last quarter. Bayforest Capital Ltd raised its stake in shares of TriNet Group by 30.7% during the 2nd quarter. Bayforest Capital Ltd now owns 16,991 shares of the business services provider’s stock valued at $1,243,000 after purchasing an additional 3,990 shares during the period. Finally, Verdence Capital Advisors LLC lifted its holdings in TriNet Group by 3.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 6,481 shares of the business services provider’s stock worth $474,000 after purchasing an additional 188 shares in the last quarter. 96.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

TNET has been the subject of a number of recent analyst reports. UBS Group reduced their target price on TriNet Group from $69.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of TriNet Group from $75.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of TriNet Group in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, TriNet Group currently has a consensus rating of “Reduce” and an average target price of $67.33.

TriNet Group Trading Up 4.4%

Shares of TriNet Group stock opened at $61.17 on Friday. The company has a debt-to-equity ratio of 8.36, a current ratio of 1.10 and a quick ratio of 1.10. TriNet Group, Inc. has a 1 year low of $57.77 and a 1 year high of $98.51. The firm has a market cap of $2.97 billion, a PE ratio of 22.57 and a beta of 0.79. The company has a 50 day simple moving average of $66.38 and a two-hundred day simple moving average of $71.77.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Wednesday, October 29th. The business services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.39. TriNet Group had a net margin of 2.64% and a return on equity of 232.60%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $261.92 million. During the same quarter last year, the company posted $1.17 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. Analysts expect that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $1.10 annualized dividend and a yield of 1.8%. TriNet Group’s payout ratio is 37.80%.

Insider Activity

In other news, CTO Jeffery Jon Hayward sold 1,437 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.80, for a total value of $98,865.60. Following the completion of the transaction, the chief technology officer directly owned 30,424 shares in the company, valued at approximately $2,093,171.20. This represents a 4.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ralph A. Clark sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $66.42, for a total value of $199,260.00. Following the transaction, the director directly owned 9,390 shares in the company, valued at approximately $623,683.80. This represents a 24.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 9,170 shares of company stock valued at $611,708. 38.10% of the stock is owned by insiders.

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.