Zacks Investment Research Upgrades Triple-S Management Corporation (GTS) to Strong-Buy
Triple-S Management Corporation (NYSE:GTS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Friday. The brokerage currently has a $26.00 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 17.01% from the stock’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. “
Other equities analysts also recently issued reports about the company. Wells Fargo & Company raised Triple-S Management Corporation from an “underperform” rating to a “market perform” rating and upped their price target for the company from $16.00 to $20.00 in a report on Wednesday. BidaskClub raised Triple-S Management Corporation from a “strong sell” rating to a “sell” rating in a report on Thursday.
Triple-S Management Corporation (NYSE GTS) traded down 0.58% on Friday, hitting $22.22. 202,594 shares of the stock were exchanged. The stock’s 50 day moving average price is $16.65 and its 200 day moving average price is $17.47. Triple-S Management Corporation has a 52-week low of $15.05 and a 52-week high of $23.92. The firm has a market cap of $542.88 million, a PE ratio of 29.63 and a beta of 0.58.
Triple-S Management Corporation (NYSE:GTS) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.57. The firm had revenue of $745.90 million during the quarter, compared to the consensus estimate of $723.25 million. Triple-S Management Corporation had a return on equity of 0.19% and a net margin of 0.63%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 earnings per share. Equities research analysts forecast that Triple-S Management Corporation will post $0.86 earnings per share for the current year.
Triple-S Management Corporation declared that its Board of Directors has initiated a share buyback plan on Tuesday, August 8th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
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Large investors have recently modified their holdings of the stock. State Street Corp boosted its stake in shares of Triple-S Management Corporation by 2.3% in the fourth quarter. State Street Corp now owns 511,057 shares of the company’s stock worth $10,577,000 after buying an additional 11,281 shares in the last quarter. Strs Ohio boosted its stake in shares of Triple-S Management Corporation by 22.5% in the first quarter. Strs Ohio now owns 39,200 shares of the company’s stock worth $688,000 after buying an additional 7,200 shares in the last quarter. 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 in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Triple-S Management Corporation by 48.1% in the first quarter. Wedge Capital Management L L P NC now owns 16,481 shares of the company’s stock worth $290,000 after buying an additional 5,354 shares in the last quarter. Finally, Algert Global LLC boosted its stake in shares of Triple-S Management Corporation by 127.8% in the first quarter. Algert Global LLC now owns 85,257 shares of the company’s stock worth $1,498,000 after buying an additional 47,833 shares in the last quarter. Institutional investors own 81.24% 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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