Trexquant Investment LP raised its stake in shares of Triple-S Management Co. (NYSE:GTS) by 61.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,164 shares of the company’s stock after purchasing an additional 5,764 shares during the quarter. Trexquant Investment LP owned 0.07% of Triple-S Management worth $396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in the business. Mackay Shields LLC bought a new stake in Triple-S Management during the first quarter valued at approximately $3,992,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in shares of Triple-S Management by 137.3% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 92,800 shares of the company’s stock worth $2,306,000 after acquiring an additional 53,700 shares during the last quarter. Sterling Capital Management LLC bought a new stake in shares of Triple-S Management in the 4th quarter worth approximately $841,000. MetLife Investment Advisors LLC bought a new stake in shares of Triple-S Management in the 4th quarter worth approximately $300,000. Finally, Macquarie Group Ltd. lifted its holdings in shares of Triple-S Management by 32.5% in the 4th quarter. Macquarie Group Ltd. now owns 18,357 shares of the company’s stock worth $456,000 after acquiring an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Triple-S Management from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Tuesday, May 15th. ValuEngine upgraded shares of Triple-S Management from a “buy” rating to a “strong-buy” rating in a report on Friday, March 2nd. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $28.00.
Triple-S Management (NYSE:GTS) last announced its quarterly earnings data on Tuesday, May 8th. The company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.36. The firm had revenue of $758.11 million during the quarter, compared to analyst estimates of $734.05 million. Triple-S Management had a net margin of 2.13% and a return on equity of 7.17%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.18) EPS. equities research analysts expect that Triple-S Management Co. will post 1.9 earnings per share for the current year.
Triple-S Management announced that its Board of Directors has authorized a share buyback program on Thursday, March 1st that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Triple-S Management Company Profile
Triple-S Management Corporation, through its subsidiaries, provides a portfolio of managed care and related products in the commercial, Medicare, and Medicaid markets in Puerto Rico, the United States. The company operates through three segments: Managed Care, Life Insurance, and Property and Casualty Insurance.
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