Jacobs Levy Equity Management Inc. Purchases 162,578 Shares of TriNet Group, Inc. (NYSE:TNET)

Jacobs Levy Equity Management Inc. increased its position in TriNet Group, Inc. (NYSE:TNET) by 41.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 550,404 shares of the business services provider’s stock after purchasing an additional 162,578 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in TriNet Group were worth $53,373,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TNET. Simcoe Capital Management LLC purchased a new position in shares of TriNet Group in the third quarter worth about $16,966,000. Point72 Hong Kong Ltd boosted its holdings in TriNet Group by 49.9% in the 3rd quarter. Point72 Hong Kong Ltd now owns 21,322 shares of the business services provider’s stock worth $2,068,000 after buying an additional 7,095 shares during the period. Verition Fund Management LLC grew its stake in TriNet Group by 75.5% in the 3rd quarter. Verition Fund Management LLC now owns 7,535 shares of the business services provider’s stock valued at $731,000 after buying an additional 3,241 shares in the last quarter. Captrust Financial Advisors raised its holdings in TriNet Group by 22.9% during the 3rd quarter. Captrust Financial Advisors now owns 3,260 shares of the business services provider’s stock valued at $316,000 after acquiring an additional 608 shares during the period. Finally, FORA Capital LLC bought a new stake in TriNet Group during the 3rd quarter valued at $441,000. 96.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on TNET. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $103.00 price target on shares of TriNet Group in a report on Tuesday, October 22nd. TD Cowen lifted their target price on TriNet Group from $92.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Needham & Company LLC cut TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $117.00.

TriNet Group Trading Down 1.7 %

TriNet Group stock opened at $92.68 on Wednesday. The stock has a market cap of $4.60 billion, a P/E ratio of 17.86 and a beta of 1.21. TriNet Group, Inc. has a fifty-two week low of $74.32 and a fifty-two week high of $134.67. The firm’s fifty day moving average price is $92.87 and its 200-day moving average price is $98.30. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.07 and a current ratio of 1.07.

TriNet Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st were issued a $0.25 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. TriNet Group’s payout ratio is currently 19.27%.

Insider Activity

In related news, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total transaction of $32,336.25. Following the transaction, the director now directly owns 37,591 shares of the company’s stock, valued at approximately $3,241,471.93. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Jeffery Jon Hayward sold 1,813 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $92.74, for a total value of $168,137.62. Following the completion of the sale, the chief technology officer now directly owns 36,951 shares of the company’s stock, valued at approximately $3,426,835.74. This represents a 4.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,533 shares of company stock worth $418,629. 37.10% of the stock is currently owned by insiders.

TriNet Group Profile

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.