I have an Sony Alpha 55 and Photoshop Elements Organizer 9 does not report the GPS metadata correctly. PE9 reports 34,00.282N 109,27.498W. It should be either 34.004703 -109.458308 or 34 0' 16.9"N 109 27' 29.9"W
GPS coordinates are in Degree, Minute, Second format. Photoshop Elements doesn't display the Seconds of Arc, instead it uses a decimal value for Minutes.
So, for North, your value is 34 (degrees) 0' (minutes) 16.9" (seconds). Just like a clock, there are 60 minutes per degree and 60 seconds per minute. 16.9/60 = .28166 (2/3, so the six continues infinitely). Rounded up, that is .282. Thus, the value is still correct, just in a third format (similar to the first one you list as how it should display, but not combining the minutes into the degrees).