Triple-S Management Corporation (NYSE:GTS) issued its earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.57, MarketWatch Earnings reports. Triple-S Management Corporation had a net margin of 0.63% and a return on equity of 0.19%. The business had revenue of $745.90 million for the quarter, compared to the consensus estimate of $723.25 million. During the same quarter last year, the firm posted $0.11 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year.
Triple-S Management Corporation (GTS) opened at 23.20 on Friday. Triple-S Management Corporation has a 12-month low of $15.05 and a 12-month high of $24.11. The stock has a 50 day moving average of $17.59 and a 200 day moving average of $17.61. The firm has a market capitalization of $562.51 million, a price-to-earnings ratio of 30.89 and a beta of 0.58.
Several equities research analysts recently issued reports on GTS shares. Wells Fargo & Company raised shares of Triple-S Management Corporation from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $16.00 to $20.00 in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Triple-S Management Corporation from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a research note on Friday, August 11th. Finally, BidaskClub raised shares of Triple-S Management Corporation from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 10th.
In related news, insider Arturo Carrion sold 1,100 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 48,663 shares in the company, valued at approximately $1,158,179.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.52% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in GTS. Northern Trust Corp boosted its position in shares of Triple-S Management Corporation by 25.6% in the second quarter. Northern Trust Corp now owns 1,054,116 shares of the company’s stock worth $17,824,000 after buying an additional 214,812 shares in the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of Triple-S Management Corporation during the second quarter worth about $2,958,000. Renaissance Technologies LLC purchased a new stake in shares of Triple-S Management Corporation during the first quarter worth about $2,397,000. Heartland Advisors Inc. boosted its stake in shares of Triple-S Management Corporation by 26.0% in the first quarter. Heartland Advisors Inc. now owns 656,087 shares of the company’s stock worth $11,527,000 after buying an additional 135,327 shares during the period. Finally, Lakewood Capital Management LP boosted its stake in shares of Triple-S Management Corporation by 12.5% in the first quarter. Lakewood Capital Management LP now owns 952,458 shares of the company’s stock worth $16,735,000 after buying an additional 106,049 shares during the period. Institutional investors own 80.91% of the company’s stock.
Triple-S Management Corporation announced that its board has authorized a stock buyback program on Tuesday, August 8th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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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