Triple-S Management Corporation (GTS) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Triple-S Management Corporation (NYSE:GTS) from a hold rating to a buy rating in a research report sent to investors on Wednesday, October 25th. They currently have $27.00 target price 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. “

A number of other brokerages also recently issued reports on GTS. ValuEngine upgraded shares of Triple-S Management Corporation from a sell rating to a hold rating in a research report on Tuesday, August 29th. BidaskClub upgraded shares of Triple-S Management Corporation from a sell rating to a hold rating in a research report on Thursday, August 24th. TheStreet upgraded shares of Triple-S Management Corporation from a c rating to a b- rating in a research report on Thursday, August 17th. Finally, Wells Fargo & Company upgraded shares of Triple-S Management Corporation from an underperform rating to a market perform rating and boosted their price target for the stock from $16.00 to $20.00 in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $25.50.

Triple-S Management Corporation (GTS) traded down $0.85 on Wednesday, reaching $26.48. 210,200 shares of the company’s stock were exchanged, compared to its average volume of 115,581. Triple-S Management Corporation has a 52-week low of $15.05 and a 52-week high of $27.61. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.04. The company has a market cap of $669.52, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 3.18 and a beta of 0.33.

Triple-S Management Corporation (NYSE:GTS) last posted its earnings results on Thursday, November 9th. The company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.59. The firm had revenue of $731.00 million for the quarter, compared to analyst estimates of $728.66 million. Triple-S Management Corporation had a net margin of 1.44% and a return on equity of 3.07%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.26) EPS. research analysts expect that Triple-S Management Corporation will post 0.86 EPS for the current fiscal year.

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Triple-S Management Corporation declared that its board has initiated a share buyback plan on Tuesday, August 8th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

In related news, insider Arturo Carrion sold 1,100 shares of the business’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 transaction, the insider now owns 48,663 shares in the company, valued at approximately $1,158,179.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its position in shares of Triple-S Management Corporation by 25.6% during the 2nd quarter. Northern Trust Corp now owns 1,054,116 shares of the company’s stock valued at $17,824,000 after acquiring an additional 214,812 shares during the period. Vanguard Group Inc. lifted its position in shares of Triple-S Management Corporation by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,026,213 shares of the company’s stock valued at $17,353,000 after acquiring an additional 29,547 shares during the period. State Street Corp lifted its position in shares of Triple-S Management Corporation by 8.0% during the 2nd quarter. State Street Corp now owns 571,596 shares of the company’s stock valued at $9,665,000 after acquiring an additional 42,575 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Triple-S Management Corporation by 28.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 307,588 shares of the company’s stock valued at $5,202,000 after acquiring an additional 68,210 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Triple-S Management Corporation by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 288,124 shares of the company’s stock valued at $5,062,000 after acquiring an additional 5,059 shares during the period. Institutional investors own 79.66% of the company’s stock.

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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