Triple-S Management Corporation (GTS) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Triple-S Management Corporation (NYSE:GTS) from a buy rating to a hold rating in a report issued on Friday morning.

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 recently issued reports about the stock. BidaskClub upgraded shares of Triple-S Management Corporation from a strong sell rating to a sell rating in a report on Thursday, August 10th. Wells Fargo & Company raised shares of Triple-S Management Corporation from an underperform rating to a market perform rating and increased their target price for the company from $16.00 to $20.00 in a research note on Wednesday, August 9th. ValuEngine raised shares of Triple-S Management Corporation from a sell rating to a hold rating in a research note on Tuesday, August 29th. Finally, TheStreet raised shares of Triple-S Management Corporation from a c rating to a b- rating in a research note on Thursday, August 17th. Four research analysts have rated the stock with a hold rating, The company presently has a consensus rating of Hold and a consensus target price of $23.50.

Shares of Triple-S Management Corporation (NYSE GTS) opened at 23.55 on Friday. The firm has a market capitalization of $570.99 million, a P/E ratio of 31.36 and a beta of 0.43. The stock’s 50 day moving average is $23.75 and its 200-day moving average is $19.69. Triple-S Management Corporation has a 52-week low of $15.05 and a 52-week high of $25.41.

Triple-S Management Corporation (NYSE:GTS) last posted its quarterly earnings data 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. The business had revenue of $745.90 million during the quarter, compared to analysts’ expectations of $723.25 million. Triple-S Management Corporation had a net margin of 0.63% and a return on equity of 0.19%. The business’s revenue was down .9% on a year-over-year basis. During the same period last year, the firm posted $0.11 earnings per share. On average, equities analysts forecast that Triple-S Management Corporation will post $0.86 earnings per share for the current fiscal year.

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Triple-S Management Corporation announced that its board has approved a stock repurchase plan on Tuesday, August 8th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

In related news, insider Arturo Carrion sold 1,100 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 48,663 shares of the company’s stock, valued at $1,158,179.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.52% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. lifted its stake in Triple-S Management Corporation by 28.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 307,588 shares of the company’s stock valued at $5,202,000 after purchasing an additional 68,210 shares during the last quarter. Brandes Investment Partners LP lifted its stake in Triple-S Management Corporation by 32.1% during the second quarter. Brandes Investment Partners LP now owns 92,639 shares of the company’s stock valued at $1,566,000 after purchasing an additional 22,501 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Triple-S Management Corporation during the first quarter valued at approximately $189,000. Legal & General Group Plc acquired a new stake in Triple-S Management Corporation during the first quarter valued at approximately $102,000. Finally, Kennedy Capital Management Inc. acquired a new stake in Triple-S Management Corporation during the second quarter valued at approximately $2,958,000. 80.37% of the stock is owned by institutional investors and hedge funds.

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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