Simcoe Capital Management LLC Acquires New Shares in TriNet Group, Inc. (NYSE:TNET)

Simcoe Capital Management LLC acquired a new stake in shares of TriNet Group, Inc. (NYSE:TNET) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 174,965 shares of the business services provider’s stock, valued at approximately $16,966,000. TriNet Group comprises approximately 2.2% of Simcoe Capital Management LLC’s investment portfolio, making the stock its 13th largest holding.

Several other hedge funds also recently modified their holdings of TNET. Massachusetts Financial Services Co. MA raised its position in TriNet Group by 32.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider’s stock worth $156,018,000 after purchasing an additional 391,720 shares during the last quarter. Earnest Partners LLC raised its position in TriNet Group by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 915,043 shares of the business services provider’s stock worth $91,504,000 after purchasing an additional 16,708 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of TriNet Group by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 823,019 shares of the business services provider’s stock worth $82,304,000 after acquiring an additional 9,386 shares in the last quarter. Emerald Advisers LLC lifted its stake in shares of TriNet Group by 1.1% in the 3rd quarter. Emerald Advisers LLC now owns 252,819 shares of the business services provider’s stock valued at $24,516,000 after purchasing an additional 2,651 shares during the period. Finally, Reinhart Partners LLC. lifted its stake in shares of TriNet Group by 10.4% in the 3rd quarter. Reinhart Partners LLC. now owns 232,955 shares of the business services provider’s stock valued at $22,590,000 after purchasing an additional 21,962 shares during the period. Institutional investors and hedge funds own 96.81% of the company’s stock.

TriNet Group Stock Up 0.6 %

TNET stock opened at $93.43 on Monday. The stock’s 50 day simple moving average is $92.97 and its 200 day simple moving average is $98.44. TriNet Group, Inc. has a fifty-two week low of $74.32 and a fifty-two week high of $134.67. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $4.63 billion, a P/E ratio of 18.00 and a beta of 1.20.

TriNet Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 1st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Tuesday, October 1st. TriNet Group’s dividend payout ratio (DPR) is currently 19.27%.

Analysts Set New Price Targets

TNET has been the topic of a number of recent analyst reports. Needham & Company LLC downgraded TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price objective on the stock. in a research note on Monday, October 28th. TD Cowen boosted their price objective on TriNet Group from $92.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $103.00 price objective on shares of TriNet Group in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, TriNet Group has an average rating of “Hold” and a consensus price target of $117.00.

Insider Buying and Selling

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total transaction of $32,336.25. Following the completion of the sale, the director now directly owns 37,591 shares of the company’s stock, valued at approximately $3,241,471.93. The trade was a 0.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,813 shares of the business’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 sale, the chief technology officer now directly owns 36,951 shares of the company’s stock, valued at $3,426,835.74. This represents a 4.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.10% of the stock is owned by company 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.