Triple-S Management Corporation (GTS) Upgraded to Buy by Zacks Investment Research

Triple-S Management Corporation (NYSE:GTS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, October 17th. The firm currently has a $26.00 price objective on the stock. Zacks Investment Research‘s target price suggests a potential upside of 7.97% from the company’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 have also issued reports about the stock. TheStreet upgraded shares of Triple-S Management Corporation from a “c” rating to a “b-” rating in a research report on Thursday, August 17th. 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. Finally, Wells Fargo & Company upgraded shares of Triple-S Management Corporation from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $16.00 to $20.00 in a research report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating, Triple-S Management Corporation currently has a consensus rating of “Hold” and a consensus target price of $23.50.

Shares of Triple-S Management Corporation (GTS) traded down $0.09 during mid-day trading on Tuesday, reaching $24.12. 22,834 shares of the company’s stock were exchanged, compared to its average volume of 119,756. The company has a market cap of $591.54, a price-to-earnings ratio of 345.71, a PEG ratio of 2.81 and a beta of 0.33. Triple-S Management Corporation has a fifty-two week low of $15.05 and a fifty-two week high of $25.41. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.04.

Triple-S Management Corporation (NYSE:GTS) last released its quarterly 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. The firm had revenue of $745.90 million for the quarter, compared to analyst estimates of $723.25 million. Triple-S Management Corporation had a net margin of 0.63% and a return on equity of 0.19%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 earnings per share. research analysts anticipate that Triple-S Management Corporation will post 0.86 EPS for the current year.

Triple-S Management Corporation declared that its Board of Directors has initiated a share buyback program on Tuesday, August 8th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

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In other news, insider Arturo Carrion sold 1,100 shares of the company’s 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 transaction, the insider now directly owns 48,663 shares in the company, valued at $1,158,179.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc acquired a new position in shares of Triple-S Management Corporation during the first quarter worth approximately $102,000. Public Employees Retirement System of Ohio raised its stake in shares of Triple-S Management Corporation by 16.0% during the first quarter. Public Employees Retirement System of Ohio now owns 5,826 shares of the company’s stock worth $102,000 after buying an additional 803 shares during the last quarter. UBS Group AG raised its stake in shares of Triple-S Management Corporation by 81.1% during the first quarter. UBS Group AG now owns 7,677 shares of the company’s stock worth $135,000 after buying an additional 3,439 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Triple-S Management Corporation during the second quarter worth approximately $187,000. Finally, SG Americas Securities LLC bought a new stake in shares of Triple-S Management Corporation during the first quarter worth approximately $189,000. Institutional investors own 79.66% of the company’s stock.

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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