Citizens (NYSE:CIA) Stock Moved Down to “Strong Sell” by Zacks Research

Zacks Research downgraded shares of Citizens (NYSE:CIA) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday,Zacks reports.

Several other equities analysts have also weighed in on CIA. Citigroup started coverage on Citizens in a research note on Monday, August 24th. They issued a “buy” rating on the stock. Weiss Ratings lowered shares of Citizens from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Wall Street Zen lowered shares of Citizens from a “sell” rating to a “strong sell” rating in a report on Saturday, October 3rd. Finally, Freedom Broker began coverage on shares of Citizens in a research report on Monday, August 24th. They set a “buy” rating and a $5.50 price target for the company. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Citizens currently has an average rating of “Hold” and a consensus target price of $5.50.

Citizens Stock Up 1.9%

NYSE:CIA opened at $3.54 on Wednesday. The company has a market cap of $197.97 million, a P/E ratio of 16.84 and a beta of 0.47. The firm’s 50 day moving average is $3.81 and its two-hundred day moving average is $4.81. Citizens has a fifty-two week low of $3.38 and a fifty-two week high of $6.54.

Citizens (NYSE:CIA) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Citizens had a return on equity of 4.73% and a net margin of 4.55%.The firm had revenue of $61.90 million for the quarter, compared to analyst estimates of $63.85 million. Research analysts forecast that Citizens will post 0.12 earnings per share for the current fiscal year.

Insider Activity at Citizens

In other news, CEO Jon Stenberg acquired 12,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were bought at an average price of $3.65 per share, for a total transaction of $43,800.00. Following the completion of the purchase, the chief executive officer directly owned 389,574 shares of the company’s stock, valued at approximately $1,421,945.10. This trade represents a 3.18% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Philip Harwood bought 10,000 shares of Citizens stock in a transaction dated Monday, August 31st. The shares were purchased at an average cost of $3.80 per share, for a total transaction of $38,000.00. Following the completion of the transaction, the director owned 11,096 shares of the company’s stock, valued at approximately $42,164.80. This represents a 912.41% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 27,376 shares of company stock valued at $102,390 in the last ninety days. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Citizens

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its position in shares of Citizens by 15.7% in the 1st quarter. Bank of America Corp DE now owns 42,405 shares of the insurance provider’s stock valued at $213,000 after purchasing an additional 5,746 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Citizens by 25.0% during the second quarter. Squarepoint Ops LLC now owns 66,456 shares of the insurance provider’s stock worth $381,000 after buying an additional 13,300 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Citizens by 8.3% in the first quarter. Empowered Funds LLC now owns 238,487 shares of the insurance provider’s stock worth $1,200,000 after buying an additional 18,244 shares during the last quarter. 13.73% of the stock is owned by hedge funds and other institutional investors.

Citizens Company Profile

Citizens, Inc (NYSE:CIA) is an insurance holding company headquartered in Austin, Texas. Through its subsidiaries, the company primarily provides life insurance and related products to individuals and families in the United States and selected international markets.

Its product offerings include final-expense and burial insurance, ordinary whole-life and term-life policies, endowment products, and certain accident and health insurance coverage. These products are designed to provide financial protection, death benefits, and other forms of insurance support for policyholders and their beneficiaries.

Citizens has historically served customers in the United States as well as markets in Latin America and Asia.