Picton Mahoney Asset Management Invests $949,000 in TriNet Group, Inc. $TNET

Picton Mahoney Asset Management bought a new stake in shares of TriNet Group, Inc. (NYSE:TNET) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 14,206 shares of the business services provider’s stock, valued at approximately $949,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TNET. Massachusetts Financial Services Co. MA raised its position in shares of TriNet Group by 19.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,353,004 shares of the business services provider’s stock valued at $157,392,000 after buying an additional 387,940 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of TriNet Group by 758.6% during the second quarter. Hsbc Holdings PLC now owns 35,247 shares of the business services provider’s stock worth $2,563,000 after acquiring an additional 31,142 shares during the last quarter. JPMorgan Chase & Co. grew its stake in TriNet Group by 109.2% during the third quarter. JPMorgan Chase & Co. now owns 220,096 shares of the business services provider’s stock valued at $14,722,000 after acquiring an additional 114,892 shares in the last quarter. Heron Bay Capital Management raised its holdings in shares of TriNet Group by 28.2% during the 2nd quarter. Heron Bay Capital Management now owns 78,620 shares of the business services provider’s stock worth $5,750,000 after acquiring an additional 17,287 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of TriNet Group by 13.7% during the 3rd quarter. William Blair Investment Management LLC now owns 445,269 shares of the business services provider’s stock worth $29,784,000 after acquiring an additional 53,683 shares in the last quarter. 96.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TriNet Group

In related news, SVP Sidney A. Majalya sold 775 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $61.86, for a total transaction of $47,941.50. Following the completion of the sale, the senior vice president directly owned 19,853 shares of the company’s stock, valued at approximately $1,228,106.58. This trade represents a 3.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 38.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Zacks Research lowered shares of TriNet Group from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Truist Financial began coverage on shares of TriNet Group in a research note on Friday, December 5th. They set a “hold” rating and a $62.00 price target on the stock. Stifel Nicolaus lowered their price objective on shares of TriNet Group from $97.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Weiss Ratings restated a “sell (d+)” rating on shares of TriNet Group in a report on Wednesday, January 21st. Finally, TD Cowen decreased their target price on shares of TriNet Group from $65.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, January 8th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $65.80.

TriNet Group Price Performance

TriNet Group stock opened at $39.12 on Friday. TriNet Group, Inc. has a 12-month low of $33.60 and a 12-month high of $88.56. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 16.57. The firm has a 50-day moving average price of $52.39 and a 200-day moving average price of $59.00. The firm has a market capitalization of $1.85 billion, a PE ratio of 12.38 and a beta of 0.86.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Thursday, February 12th. The business services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.37 by $0.09. TriNet Group had a net margin of 3.09% and a return on equity of 215.01%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $251.57 million. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. TriNet Group has set its FY 2026 guidance at 3.700-4.700 EPS. As a group, equities research analysts forecast that TriNet Group, Inc. will post 3.04 EPS for the current year.

TriNet Group announced that its board has authorized a share repurchase program on Thursday, February 12th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the business services provider to buy up to 18.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

TriNet Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.8%. TriNet Group’s dividend payout ratio is currently 34.81%.

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.