Zacks Investment Research upgraded shares of Triple-S Management Corporation (NYSE:GTS) from a hold rating to a strong-buy rating in a report published on Friday morning. They currently have $31.00 price target on the stock.
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 analysts have also recently issued reports about the company. BidaskClub upgraded Triple-S Management Corporation from a strong sell rating to a sell rating in a research report on Thursday, August 10th. Wells Fargo & Company upgraded Triple-S Management Corporation from an underperform rating to a market perform rating and boosted their price objective for the company from $16.00 to $20.00 in a research report on Wednesday, August 9th. ValuEngine upgraded Triple-S Management Corporation from a sell rating to a hold rating in a research report on Tuesday, August 29th. Finally, TheStreet upgraded Triple-S Management Corporation from a c rating to a b- rating in a research report on Thursday, August 17th. Three equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Triple-S Management Corporation presently has an average rating of Buy and an average target price of $25.50.
Shares of Triple-S Management Corporation (GTS) traded down $0.85 during midday trading on Friday, reaching $26.48. The company’s stock had a trading volume of 210,200 shares, compared to its average volume of 132,896. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.04. The company has a market cap of $647.28, a P/E ratio of 24.07, a P/E/G ratio of 3.08 and a beta of 0.33. Triple-S Management Corporation has a 52 week low of $15.05 and a 52 week high of $27.61.
Triple-S Management Corporation (NYSE:GTS) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.59. The company had revenue of $731.00 million for the quarter, compared to the consensus estimate of $728.66 million. Triple-S Management Corporation had a return on equity of 3.07% and a net margin of 1.44%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.26) EPS. sell-side analysts expect that Triple-S Management Corporation will post 1.23 earnings per share for the current year.
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Triple-S Management Corporation announced that its board has initiated a share repurchase plan on Tuesday, August 8th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, insider Arturo Carrion sold 1,100 shares of the business’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 transaction of $26,180.00. Following 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 SEC, which is accessible through the SEC website. Insiders own 1.52% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its stake in Triple-S Management Corporation by 19.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 126,318 shares of the company’s stock valued at $2,136,000 after buying an additional 20,400 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Triple-S Management Corporation by 28.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 307,588 shares of the company’s stock valued at $5,202,000 after buying an additional 68,210 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in Triple-S Management Corporation by 5.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 175,373 shares of the company’s stock valued at $2,966,000 after buying an additional 8,933 shares in the last quarter. Brandes Investment Partners LP boosted its stake in Triple-S Management Corporation by 32.1% in the 2nd quarter. Brandes Investment Partners LP now owns 92,639 shares of the company’s stock valued at $1,566,000 after buying an additional 22,501 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Triple-S Management Corporation in the 1st quarter valued at $102,000. 79.66% of the stock is currently 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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