Zacks Investment Research Lowers Triple-S Management Corporation (GTS) to Hold
Zacks Investment Research cut shares of Triple-S Management Corporation (NYSE:GTS) from a buy rating to a hold rating in a report issued on Thursday.
According to Zacks, “Triple-S Management Corporation is an independent licensee of the Blue Cross Blue Shield Association. It is the largest managed care company in Puerto Rico, serving approximately one million members across all regions. Triple-S offers a broad portfolio of managed care and related products in the commercial, Medicare and Reform (similar to Medicaid) markets. In addition to its managed care business, Triple-S provides life and property and casualty insurance in Puerto Rico. “
Several other brokerages also recently issued reports on GTS. ValuEngine raised shares of Triple-S Management Corporation from a sell rating to a hold rating in a report on Tuesday, August 29th. BidaskClub raised shares of Triple-S Management Corporation from a sell rating to a hold rating in a report on Thursday, August 24th. TheStreet raised shares of Triple-S Management Corporation from a c rating to a b- rating in a report on Thursday, August 17th. Finally, Wells Fargo & Company raised shares of Triple-S Management Corporation from an underperform rating to a market perform rating and boosted their price target for the company from $16.00 to $20.00 in a report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating, Triple-S Management Corporation presently has an average rating of Hold and an average target price of $23.00.
Shares of Triple-S Management Corporation (GTS) traded up 0.29% during mid-day trading on Thursday, reaching $24.19. 71,999 shares of the company were exchanged. Triple-S Management Corporation has a 12 month low of $15.05 and a 12 month high of $25.41. The firm has a market capitalization of $586.51 million, a price-to-earnings ratio of 32.21 and a beta of 0.43. The company’s 50-day moving average is $23.81 and its 200 day moving average is $19.42.
Triple-S Management Corporation (NYSE:GTS) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.57. Triple-S Management Corporation had a net margin of 0.63% and a return on equity of 0.19%. The company had revenue of $745.90 million during the quarter, compared to the consensus estimate of $723.25 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts predict that Triple-S Management Corporation will post $0.86 EPS for the current year.
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Triple-S Management Corporation declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 8th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the company to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
In other news, insider Arturo Carrion sold 1,100 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $23.80, for a total transaction of $26,180.00. Following the completion of the transaction, the insider now owns 48,663 shares of the company’s stock, valued at $1,158,179.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.52% of the company’s stock.
A number of hedge funds have recently bought and sold shares of GTS. Public Employees Retirement System of Ohio lifted its holdings in Triple-S Management Corporation by 16.0% in the first quarter. Public Employees Retirement System of Ohio now owns 5,826 shares of the company’s stock worth $102,000 after purchasing an additional 803 shares during the period. Legal & General Group Plc acquired a new stake in Triple-S Management Corporation in the first quarter worth about $102,000. UBS Group AG lifted its holdings in Triple-S Management Corporation by 81.1% in the first quarter. UBS Group AG now owns 7,677 shares of the company’s stock worth $135,000 after purchasing an additional 3,439 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Triple-S Management Corporation in the second quarter worth about $187,000. Finally, SG Americas Securities LLC acquired a new stake in Triple-S Management Corporation in the first quarter worth about $189,000. 80.47% of the stock is owned by institutional investors and hedge funds.
About Triple-S Management Corporation
Triple-S Management Corporation operates as a managed care company. The Company offers a range of managed care and related products in the commercial, Medicaid and Medicare markets. The Company’s segments include Managed Care, Life Insurance, and Property and Casualty Insurance. The Managed Care segment is engaged in the sale of managed care products to the Commercial, Medicare and Medicaid market sectors.
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