Triple-S Management Corporation (GTS) Rating Increased to Strong-Buy at Zacks Investment Research
Triple-S Management Corporation (NYSE:GTS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $31.00 price objective on the stock. Zacks Investment Research‘s price target suggests a potential upside of 17.07% from the company’s previous close.
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 have also commented on GTS. ValuEngine raised Triple-S Management Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. BidaskClub raised shares of Triple-S Management Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. TheStreet upgraded Triple-S Management Corporation from a “c” rating to a “b-” rating in a report on Thursday, August 17th. Finally, Wells Fargo & Company upgraded Triple-S Management Corporation from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $16.00 to $20.00 in a report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $25.50.
Triple-S Management Corporation (GTS) traded down $0.85 during midday trading on Friday, hitting $26.48. 210,200 shares of the stock traded hands, compared to its average volume of 132,896. The stock has a market capitalization of $647.28, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 3.08 and a beta of 0.33. Triple-S Management Corporation has a twelve month low of $15.05 and a twelve month high of $27.61. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.04.
Triple-S Management Corporation (NYSE:GTS) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.59. The company had revenue of $731.00 million for the quarter, compared to analysts’ expectations of $728.66 million. Triple-S Management Corporation had a net margin of 1.44% and a return on equity of 3.07%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.26) earnings per share. analysts forecast that Triple-S Management Corporation will post 1.23 EPS for the current fiscal year.
Triple-S Management Corporation declared that its Board of Directors has authorized a stock buyback plan on Tuesday, August 8th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, insider Arturo Carrion sold 1,100 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,158,179.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.52% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of GTS. Public Employees Retirement System of Ohio grew its holdings in Triple-S Management Corporation by 16.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 5,826 shares of the company’s stock valued at $102,000 after buying an additional 803 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Triple-S Management Corporation during the 1st quarter worth approximately $102,000. UBS Group AG lifted 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 buying an additional 3,439 shares during the period. SG Americas Securities LLC bought a new position in shares of Triple-S Management Corporation during the 3rd quarter worth approximately $148,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Triple-S Management Corporation during the 2nd quarter worth approximately $187,000. 79.66% of the stock is currently 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.
Receive News & Stock Ratings for Triple-S Management Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Triple-S Management Corporation and related stocks with our FREE daily email newsletter.