Triple-S Management Corporation (GTS) Lowered to “Hold” at 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 research note released 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. “
A number of other brokerages have also recently commented on GTS. ValuEngine raised Triple-S Management Corporation from a sell rating to a hold rating in a report on Tuesday, August 29th. BidaskClub raised Triple-S Management Corporation from a sell rating to a hold rating in a report on Thursday, August 24th. TheStreet raised Triple-S Management Corporation from a c rating to a b- rating in a report on Thursday, August 17th. Finally, Wells Fargo & Co raised 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 report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of Hold and an average price target of $23.00.
Triple-S Management Corporation (NYSE GTS) traded up 0.29% during trading on Thursday, reaching $24.19. The company’s stock had a trading volume of 71,999 shares. The stock has a 50-day moving average of $23.83 and a 200 day moving average of $19.38. The firm has a market capitalization of $586.51 million, a P/E ratio of 32.21 and a beta of 0.43. Triple-S Management Corporation has a one year low of $15.05 and a one year high of $25.41.
Triple-S Management Corporation (NYSE:GTS) last announced its earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $723.25 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The business’s revenue was down .9% compared to the same quarter last year. On average, equities research analysts predict that Triple-S Management Corporation will post $0.86 EPS for the current fiscal year.
Triple-S Management Corporation announced that its board has initiated a share repurchase plan on Tuesday, August 8th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Arturo Carrion sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $23.80, for a total value of $26,180.00. Following the completion of the sale, the insider now directly owns 48,663 shares in the company, valued at $1,158,179.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.52% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its position in Triple-S Management Corporation by 20.7% in the second quarter. Public Employees Retirement System of Ohio now owns 7,030 shares of the company’s stock worth $119,000 after acquiring an additional 1,204 shares during the period. The Manufacturers Life Insurance Company grew its position in Triple-S Management Corporation by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 18,500 shares of the company’s stock worth $313,000 after acquiring an additional 234 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Triple-S Management Corporation in the second quarter worth approximately $187,000. State Street Corp grew its position in Triple-S Management Corporation by 8.0% in the second quarter. State Street Corp now owns 571,596 shares of the company’s stock worth $9,665,000 after acquiring an additional 42,575 shares during the period. Finally, AHL Partners LLP grew its position in Triple-S Management Corporation by 4.8% in the second quarter. AHL Partners LLP now owns 53,073 shares of the company’s stock worth $897,000 after acquiring an additional 2,413 shares during the period. Institutional investors own 80.47% of the company’s stock.
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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