California Public Employees Retirement System Reduces Position in Triple-S Management Corp. (GTS)
California Public Employees Retirement System lowered its stake in Triple-S Management Corp. (NYSE:GTS) by 8.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,188 shares of the company’s stock after selling 6,812 shares during the quarter. California Public Employees Retirement System’s holdings in Triple-S Management were worth $1,686,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new stake in Triple-S Management in the third quarter worth approximately $479,000. Cornerstone Capital Management Holdings LLC. raised its position in Triple-S Management by 158.4% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 62,310 shares of the company’s stock worth $1,474,000 after acquiring an additional 38,200 shares during the period. Allianz Asset Management GmbH bought a new position in Triple-S Management in the third quarter worth approximately $586,000. OxFORD Asset Management LLP raised its position in Triple-S Management by 98.1% in the third quarter. OxFORD Asset Management LLP now owns 121,000 shares of the company’s stock worth $2,779,000 after acquiring an additional 59,918 shares during the period. Finally, Brandes Investment Partners LP raised its position in Triple-S Management by 8.6% in the third quarter. Brandes Investment Partners LP now owns 100,588 shares of the company’s stock worth $2,382,000 after acquiring an additional 7,949 shares during the period. Institutional investors own 84.79% of the company’s stock.
Several research analysts have weighed in on GTS shares. ValuEngine upgraded shares of Triple-S Management from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded shares of Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, October 17th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.50.
Triple-S Management Corp. (GTS) opened at $24.36 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.78 and a quick ratio of 0.78. Triple-S Management Corp. has a 52-week low of $15.05 and a 52-week high of $29.43. The firm has a market cap of $580.55, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 1.29 and a beta of 0.40.
Triple-S Management (NYSE:GTS) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.59. Triple-S Management had a net margin of 1.44% and a return on equity of 3.05%. The business had revenue of $731.00 million for the quarter, compared to the consensus estimate of $728.66 million. During the same period last year, the firm earned ($0.26) earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. sell-side analysts predict that Triple-S Management Corp. will post 1.23 EPS for the current fiscal year.
Triple-S Management 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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