Triple-S Management Corp. (NYSE:GTS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday.
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. “
Separately, TheStreet lowered Triple-S Management Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, November 3rd.
Triple-S Management Corp. (NYSE:GTS) traded up 0.09% during mid-day trading on Monday, hitting $22.42. 22,920 shares of the stock traded hands. The firm has a market capitalization of $546.73 million, a P/E ratio of 28.45 and a beta of 0.91. Triple-S Management Corp. has a 1-year low of $18.62 and a 1-year high of $27.70. The company has a 50-day moving average of $21.38 and a 200 day moving average of $22.97.
Triple-S Management Corp. (NYSE:GTS) last issued its earnings results on Thursday, November 3rd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.63. The firm earned $744.70 million during the quarter, compared to analysts’ expectations of $396.51 million. Triple-S Management Corp. had a return on equity of 1.41% and a net margin of 0.65%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 EPS. On average, equities research analysts anticipate that Triple-S Management Corp. will post $0.18 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Capital Management Holdings LLC. raised its stake in Triple-S Management Corp. by 118.3% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 84,700 shares of the company’s stock worth $1,857,000 after buying an additional 45,900 shares during the period. Mackenzie Financial Corp raised its stake in Triple-S Management Corp. by 10.6% in the third quarter. Mackenzie Financial Corp now owns 62,345 shares of the company’s stock worth $1,367,000 after buying an additional 5,964 shares during the period. D. E. Shaw & Co. Inc. raised its stake in Triple-S Management Corp. by 3.4% in the third quarter. D. E. Shaw & Co. Inc. now owns 315,009 shares of the company’s stock worth $6,908,000 after buying an additional 10,425 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Triple-S Management Corp. during the third quarter worth $333,000. Finally, Lakewood Capital Management LP raised its stake in Triple-S Management Corp. by 68.8% in the third quarter. Lakewood Capital Management LP now owns 763,705 shares of the company’s stock worth $16,748,000 after buying an additional 311,247 shares during the period. 86.51% of the stock is owned by hedge funds and other institutional investors.
Triple-S Management Corp. 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 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.