Cannon Global Investment Management LLC Has $572,000 Position in TriNet Group, Inc. (NYSE:TNET)

Cannon Global Investment Management LLC raised its stake in TriNet Group, Inc. (NYSE:TNET) by 80.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,300 shares of the business services provider’s stock after buying an additional 2,800 shares during the period. TriNet Group makes up 1.2% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 27th biggest position. Cannon Global Investment Management LLC’s holdings in TriNet Group were worth $572,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of TriNet Group by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 2,992,008 shares of the business services provider’s stock valued at $271,585,000 after acquiring an additional 36,216 shares in the last quarter. LPL Financial LLC boosted its stake in shares of TriNet Group by 6.5% during the fourth quarter. LPL Financial LLC now owns 9,786 shares of the business services provider’s stock valued at $888,000 after purchasing an additional 597 shares in the last quarter. Heron Bay Capital Management acquired a new stake in shares of TriNet Group during the fourth quarter valued at about $4,271,000. KLP Kapitalforvaltning AS acquired a new stake in TriNet Group during the 4th quarter worth approximately $908,000. Finally, Sei Investments Co. boosted its position in TriNet Group by 52.4% during the 4th quarter. Sei Investments Co. now owns 82,926 shares of the business services provider’s stock worth $7,527,000 after buying an additional 28,524 shares during the period. Institutional investors and hedge funds own 96.81% of the company’s stock.

Analyst Upgrades and Downgrades

TNET has been the topic of several recent research reports. TD Cowen downgraded shares of TriNet Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $104.00 to $74.00 in a research report on Tuesday, February 18th. Needham & Company LLC reiterated a “hold” rating on shares of TriNet Group in a report on Thursday, March 13th.

TriNet Group Trading Down 2.8 %

TNET opened at $76.67 on Monday. The firm has a market capitalization of $3.80 billion, a PE ratio of 22.42 and a beta of 1.26. TriNet Group, Inc. has a fifty-two week low of $65.43 and a fifty-two week high of $134.67. The company’s 50-day moving average is $82.68 and its 200 day moving average is $89.34. The company has a debt-to-equity ratio of 13.16, a current ratio of 1.07 and a quick ratio of 1.07.

TriNet Group (NYSE:TNET) last announced its earnings results on Thursday, February 13th. The business services provider reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $252.00 million during the quarter, compared to the consensus estimate of $225.72 million. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. As a group, research analysts predict that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Tuesday, April 1st. This is an increase from TriNet Group’s previous quarterly dividend of $0.25. TriNet Group’s dividend payout ratio (DPR) is 32.16%.

Insider Transactions at TriNet Group

In related news, Director Paul Edward Chamberlain sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $41,616.00. Following the sale, the director now owns 36,991 shares of the company’s stock, valued at approximately $2,565,695.76. This represents a 1.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,364 shares of TriNet Group stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $94,607.04. Following the sale, the chief technology officer now directly owns 19,867 shares of the company’s stock, valued at $1,377,975.12. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,748 shares of company stock worth $833,436 in the last quarter. Insiders own 37.10% of the company’s stock.

TriNet Group Company 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.