TheStreet upgraded shares of Triple-S Management Corporation (NYSE:GTS) from a c rating to a b- rating in a research report released on Thursday.
GTS has been the topic of several other research reports. Zacks Investment Research cut shares of Triple-S Management Corporation from a hold rating to a strong sell rating in a research note on Thursday, May 11th. BidaskClub upgraded shares of Triple-S Management Corporation from a strong sell rating to a sell rating in a research note on Thursday, August 10th. Finally, Wells Fargo & Company upgraded shares of Triple-S Management Corporation from an underperform rating to a market perform rating and increased their price objective for the stock from $16.00 to $20.00 in a research note on Wednesday, August 9th.
Triple-S Management Corporation (GTS) traded down 0.98% during midday trading on Thursday, hitting $23.20. 208,575 shares of the stock traded hands. The company has a market capitalization of $562.51 million, a price-to-earnings ratio of 30.89 and a beta of 0.58. Triple-S Management Corporation has a 52 week low of $15.05 and a 52 week high of $24.11. The stock’s 50-day moving average price is $17.59 and its 200 day moving average price is $17.61.
Triple-S Management Corporation (NYSE:GTS) last posted its earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.57. The business had revenue of $745.90 million for the quarter, compared to analysts’ expectations of $723.25 million. Triple-S Management Corporation had a net margin of 0.63% and a return on equity of 0.19%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. On average, equities research analysts predict that Triple-S Management Corporation will post $0.86 EPS for the current year.
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Triple-S Management Corporation announced that its board has approved a share repurchase program on Tuesday, August 8th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
In other Triple-S Management Corporation news, insider Arturo Carrion sold 1,100 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $23.80, for a total transaction 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 legal filing with the SEC, which is available at this link. 1.52% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in GTS. Public Employees Retirement System of Ohio raised its stake in shares of 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 buying an additional 1,204 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of 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 buying an additional 234 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Triple-S Management Corporation during the second quarter worth $187,000. State Street Corp raised 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 buying an additional 42,575 shares during the period. Finally, AHL Partners LLP raised 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 buying an additional 2,413 shares during the period. 80.91% of the stock is 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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