Citizens (NYSE:CIA) Shares Break Above 50 Day Moving Average – Here’s What Happened

Citizens, Inc. (NYSE:CIA) shares crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $3.64 and traded as high as $3.80. Citizens shares last traded at $3.7140, with a volume of 132,550 shares trading hands.

Analysts Set New Price Targets

Several research analysts have weighed in on CIA shares. Wall Street Zen upgraded shares of Citizens from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 11th. Citigroup started coverage on shares of Citizens in a research note on Monday, August 24th. They set a “buy” rating for the company. Weiss Ratings upgraded shares of Citizens from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 16th. Zacks Research downgraded shares of Citizens from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 7th. Finally, Freedom Broker assumed coverage on shares of Citizens in a research note on Monday, August 24th. They issued a “buy” rating and a $5.50 price target on the stock. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.50.

Citizens Stock Performance

The stock has a 50 day moving average price of $3.64 and a two-hundred day moving average price of $4.85. The company has a market capitalization of $207.87 million, a PE ratio of 17.69 and a beta of 0.47.

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

Insider Activity at Citizens

In other Citizens news, Director Michael Philip Harwood bought 10,000 shares of Citizens stock in a transaction on Monday, August 31st. The stock was purchased at an average cost of $3.80 per share, for a total transaction of $38,000.00. Following the completion of the purchase, the director directly owned 11,096 shares of the company’s stock, valued at $42,164.80. The trade was a 912.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon Stenberg bought 12,000 shares of Citizens stock in a transaction on Tuesday, August 11th. The stock was acquired at an average price of $3.65 per share, with a total value 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. The trade was a 3.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 27,376 shares of company stock worth $102,390. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Citizens

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

About Citizens

Citizens, Inc (NYSE: CIA) is an insurance holding company focused primarily on life insurance products. Through its operating subsidiaries, the company provides coverage designed to address final expenses, mortgage protection, income replacement and other long-term financial needs.

Its product offerings have included whole life, term life, universal life and other life insurance policies, as well as related insurance solutions. Citizens serves policyholders in the United States and selected international markets, including countries and territories in Latin America and the Caribbean.

The company is based in Austin, Texas, and has historically operated through insurance subsidiaries serving domestic and international customers.