Renaissance Technologies LLC Increases Stock Holdings in TriNet Group, Inc. $TNET

Renaissance Technologies LLC raised its position in shares of TriNet Group, Inc. (NYSE:TNET) by 176.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 226,000 shares of the business services provider’s stock after purchasing an additional 144,200 shares during the quarter. Renaissance Technologies LLC’s holdings in TriNet Group were worth $8,233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TNET. Caitong International Asset Management Co. Ltd boosted its holdings in shares of TriNet Group by 160.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 479 shares of the business services provider’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in TriNet Group during the fourth quarter valued at approximately $28,000. Quarry LP increased its holdings in TriNet Group by 524.7% during the third quarter. Quarry LP now owns 456 shares of the business services provider’s stock valued at $31,000 after buying an additional 383 shares during the last quarter. Cache Advisors LLC purchased a new stake in TriNet Group during the first quarter valued at approximately $36,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in TriNet Group by 45.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 646 shares of the business services provider’s stock worth $38,000 after acquiring an additional 201 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Analysts Set New Price Targets

TNET has been the topic of several analyst reports. TD Cowen lifted their price target on shares of TriNet Group from $46.00 to $49.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Weiss Ratings upgraded TriNet Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. lifted their target price on TriNet Group from $45.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday. UBS Group cut their price target on TriNet Group from $62.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Finally, Truist Financial upped their price target on TriNet Group from $50.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, TriNet Group has an average rating of “Hold” and a consensus price target of $56.80.

Insider Buying and Selling

In other TriNet Group news, SVP Anthony Shea Treadway sold 933 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $43.46, for a total transaction of $40,548.18. Following the sale, the senior vice president directly owned 67,678 shares of the company’s stock, valued at $2,941,285.88. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 40.00% of the stock is currently owned by corporate insiders.

TriNet Group Price Performance

Shares of NYSE:TNET opened at $70.51 on Tuesday. The company has a market capitalization of $3.24 billion, a P/E ratio of 18.85 and a beta of 0.99. TriNet Group, Inc. has a 1-year low of $33.60 and a 1-year high of $73.07. The firm’s 50 day simple moving average is $53.16 and its two-hundred day simple moving average is $46.96. The company has a debt-to-equity ratio of 7.17, a current ratio of 1.13 and a quick ratio of 1.13.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Thursday, July 30th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.62. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. TriNet Group had a net margin of 3.58% and a return on equity of 227.28%. During the same period in the prior year, the company posted $1.15 earnings per share. TriNet Group has set its FY 2026 guidance at 4.500-5.100 EPS. Research analysts expect that TriNet Group, Inc. will post 3.55 EPS for the current fiscal year.

TriNet Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 1st were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Wednesday, July 1st. TriNet Group’s dividend payout ratio is presently 31.02%.

About TriNet Group

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.