Triple-S Management (NYSE:GTS) Shares Down 6% on Analyst Downgrade
Triple-S Management Corp. (NYSE:GTS) fell 6% on Friday after Wells Fargo & Co lowered their price target on the stock from $27.00 to $21.00. Wells Fargo & Co currently has a market perform rating on the stock. Triple-S Management traded as low as $16.79 and last traded at $16.97, 784,100 shares were traded during trading. An increase of 480% from the average session volume of 135,177 shares. The stock had previously closed at $18.05.
A number of other equities research analysts also recently commented on the company. ValuEngine downgraded Triple-S Management from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. Zacks Investment Research downgraded Triple-S Management from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, TheStreet downgraded Triple-S Management from a “b” rating to a “c+” rating in a report on Monday.
Large investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC purchased a new stake in Triple-S Management during the 2nd quarter worth about $5,580,000. Prudential Financial Inc. grew its holdings in shares of Triple-S Management by 249.4% during the 2nd quarter. Prudential Financial Inc. now owns 213,362 shares of the company’s stock worth $5,089,000 after purchasing an additional 152,289 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Triple-S Management by 170.6% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 130,585 shares of the company’s stock worth $3,114,000 after purchasing an additional 82,322 shares during the period. Kennedy Capital Management Inc. purchased a new stake in shares of Triple-S Management during the 1st quarter worth about $1,712,000. Finally, Heartland Advisors Inc. grew its holdings in shares of Triple-S Management by 12.4% during the 2nd quarter. Heartland Advisors Inc. now owns 602,733 shares of the company’s stock worth $14,375,000 after purchasing an additional 66,438 shares during the period. 81.59% of the stock is owned by institutional investors and hedge funds.
Triple-S Management (NYSE:GTS) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.42 by $0.70. The firm had revenue of $878.60 million for the quarter, compared to analyst estimates of $792.75 million. Triple-S Management had a return on equity of 3.63% and a net margin of 1.17%. Triple-S Management’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. As a group, equities analysts predict that Triple-S Management Corp. will post 2.5 earnings per share for the current fiscal year.
About Triple-S Management (NYSE:GTS)
Triple-S Management Corporation, through its subsidiaries, provides a portfolio of managed care and related products in the commercial, Medicare Advantage, and Medicaid markets. It operates through three segments: Managed Care, Life Insurance, and Property and Casualty Insurance. The company offers various managed care products, including health maintenance organization plans; preferred provider organization plans; BlueCard program; Medicare Supplement products; Medicare Advantage products; Medicaid plans; and claims processing and other administrative services to employers, professional and trade associations, individuals, and government entities.
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