Triple-S Management Corporation (NYSE:GTS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
Other research analysts have also issued research reports about the company. TheStreet upgraded Triple-S Management Corporation from a “c” rating to a “b-” rating in a report on Thursday, August 17th. ValuEngine upgraded Triple-S Management Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. BidaskClub upgraded Triple-S Management Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. Finally, Wells Fargo & Company upgraded Triple-S Management Corporation from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $16.00 to $20.00 in a report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating, Triple-S Management Corporation currently has an average rating of “Hold” and an average price target of $23.00.
Shares of Triple-S Management Corporation (NYSE:GTS) opened at 23.92 on Wednesday. Triple-S Management Corporation has a 12 month low of $15.05 and a 12 month high of $25.41. The company has a 50-day moving average of $23.91 and a 200 day moving average of $19.07. The company has a market cap of $579.96 million, a PE ratio of 31.85 and a beta of 0.43.
Triple-S Management Corporation (NYSE:GTS) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.57. Triple-S Management Corporation had a return on equity of 0.19% and a net margin of 0.63%. The business had revenue of $745.90 million for the quarter, compared to analyst estimates of $723.25 million. During the same quarter in the previous year, the firm earned $0.11 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. On average, analysts anticipate that Triple-S Management Corporation will post $0.86 earnings per share for the current year.
Triple-S Management Corporation declared that its board has approved a stock repurchase program on Tuesday, August 8th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In other news, insider Arturo Carrion sold 1,100 shares of Triple-S Management Corporation stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $23.80, for a total transaction of $26,180.00. Following the transaction, the insider now owns 48,663 shares in the company, valued at approximately $1,158,179.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in shares of Triple-S Management Corporation during the 1st quarter worth about $102,000. Public Employees Retirement System of Ohio increased its position in shares of Triple-S Management Corporation by 16.0% during the 1st 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 last quarter. UBS Group AG increased its position in shares of Triple-S Management Corporation by 81.1% during the 1st 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 last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Triple-S Management Corporation during the 2nd quarter worth about $187,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Triple-S Management Corporation during the 1st quarter worth about $189,000. Institutional investors and hedge funds own 80.47% of the company’s stock.
Triple-S Management Corporation Company Profile
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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