Triple-S Management Corporation (GTS) Upgraded to Buy at Zacks Investment Research
Triple-S Management Corporation (NYSE:GTS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $26.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 9.89% from the company’s current price.
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. “
GTS has been the topic of several other reports. 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 “strong sell” rating to a “sell” rating in a report on Thursday, August 10th. TheStreet raised Triple-S Management Corporation from a “c” rating to a “b-” rating in a report on Thursday, August 17th. Finally, Wells Fargo & Company raised 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 issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $23.00.
Shares of Triple-S Management Corporation (GTS) traded up 0.21% during trading on Tuesday, reaching $23.66. The company’s stock had a trading volume of 141,303 shares. Triple-S Management Corporation has a one year low of $15.05 and a one year high of $25.41. The stock’s 50 day moving average is $23.90 and its 200 day moving average is $19.22. The firm has a market cap of $573.66 million, a P/E ratio of 31.50 and a beta of 0.43.
Triple-S Management Corporation (NYSE:GTS) last released its earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to the consensus estimate of $723.25 million. During the same period in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities analysts forecast that Triple-S Management Corporation will post $0.86 EPS for the current fiscal year.
Triple-S Management Corporation announced that its board has approved a stock buyback program on Tuesday, August 8th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
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In other Triple-S Management Corporation news, insider Arturo Carrion sold 1,100 shares of the business’s stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.52% of the company’s stock.
Several large investors have recently made changes to their positions in GTS. SG Americas Securities LLC bought a new position in shares of Triple-S Management Corporation during the first quarter valued at $189,000. American International Group Inc. lifted its holdings in shares of Triple-S Management Corporation by 7.1% during the first quarter. American International Group Inc. now owns 14,350 shares of the company’s stock valued at $252,000 after purchasing an additional 949 shares in the last quarter. Systematic Financial Management LP lifted its holdings in shares of Triple-S Management Corporation by 31.4% during the first quarter. Systematic Financial Management LP now owns 70,389 shares of the company’s stock valued at $1,237,000 after purchasing an additional 16,835 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Triple-S Management Corporation during the first quarter valued at $102,000. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of Triple-S Management Corporation during the first quarter valued at $871,000. 80.47% of the stock is currently owned by hedge funds and other institutional investors.
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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