Triple-S Management Corp. (GTS) Stake Decreased by Ameriprise Financial Inc.
Ameriprise Financial Inc. cut its stake in Triple-S Management Corp. (NYSE:GTS) by 23.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,998 shares of the company’s stock after selling 94,286 shares during the period. Ameriprise Financial Inc. owned about 1.24% of Triple-S Management Corp. worth $7,328,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Emerald Acquisition Ltd. purchased a new position in Triple-S Management Corp. during the second quarter valued at about $4,979,000. Pzena Investment Management LLC increased its position in Triple-S Management Corp. by 10.0% in the second quarter. Pzena Investment Management LLC now owns 1,559,649 shares of the company’s stock valued at $38,102,000 after buying an additional 142,017 shares in the last quarter. Foundry Partners LLC purchased a new position in Triple-S Management Corp. during the second quarter valued at about $2,841,000. Spark Investment Management LLC increased its position in Triple-S Management Corp. by 563.6% in the first quarter. Spark Investment Management LLC now owns 94,900 shares of the company’s stock valued at $2,359,000 after buying an additional 80,600 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in Triple-S Management Corp. by 29.7% in the first quarter. Prudential Financial Inc. now owns 292,456 shares of the company’s stock valued at $7,270,000 after buying an additional 67,000 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of Triple-S Management Corp. (NYSE:GTS) traded up 0.33% during mid-day trading on Friday, hitting $21.50. 52,797 shares of the company’s stock traded hands. Triple-S Management Corp. has a 52 week low of $17.78 and a 52 week high of $27.70. The firm has a 50-day moving average of $22.08 and a 200 day moving average of $23.94. The company has a market cap of $529.42 million, a PE ratio of 20.81 and a beta of 0.95.
Triple-S Management Corp. (NYSE:GTS) last announced its earnings results on Thursday, August 4th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.16. Triple-S Management Corp. had a return on equity of 3.31% and a net margin of 0.84%. The business had revenue of $747.40 million for the quarter, compared to the consensus estimate of $749.56 million. During the same period in the prior year, the business posted $0.28 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities research analysts predict that Triple-S Management Corp. will post $1.03 EPS for the current year.
Several research analysts have issued reports on GTS shares. Zacks Investment Research downgraded Triple-S Management Corp. from a “hold” rating to a “strong sell” rating in a report on Friday, August 5th. TheStreet upgraded shares of Triple-S Management Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 21st.
About Triple-S Management Corp.
Triple-S Management Corporation operates as a managed care company. The Company offers a range of managed care and related products in the commercial 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.
Want to see what other hedge funds are holding GTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Triple-S Management Corp. (NYSE:GTS).
Receive News & Ratings for Triple-S Management Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Triple-S Management Corp. and related companies with MarketBeat.com's FREE daily email newsletter.