Citizens (NYSE:CIA) Coverage Initiated by Analysts at Freedom Broker

Key Points

• Freedom Broker initiated coverage of Citizens with a “buy” rating and a $5.50 price target, implying 39.21% upside from the reported $3.95 share price. MarketBeat’s consensus view is “Moderate Buy,” with an average target of $5.50.
• Citizens recently missed quarterly expectations, reporting $0.01 in EPS versus the $0.07 consensus and revenue of $61.90 million versus estimates of $63.85 million. The stock has traded between $3.56 and $6.54 over the past year.
• CEO Jon Stenberg purchased 12,000 shares worth $43,800, while several institutional investors increased their positions. Insiders own 2.20% of the company, and institutions and hedge funds own 13.73%.

Stock analysts at Freedom Broker assumed coverage on shares of Citizens (NYSE:CIA - Get Free Report) in a report released on Monday,Benzinga reports. The firm set a "buy" rating and a $5.50 price target on the insurance provider's stock. Freedom Broker's price target indicates a potential upside of 39.21% from the stock's current price.

A number of other research analysts have also issued reports on CIA. Weiss Ratings lowered shares of Citizens from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, August 7th. Wall Street Zen cut Citizens from a "hold" rating to a "strong sell" rating in a report on Saturday, August 15th. Finally, Citigroup initiated coverage on shares of Citizens in a research report on Monday. They issued a "buy" rating for the company. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Citizens presently has a consensus rating of "Moderate Buy" and an average price target of $5.50.

Citizens Trading Up 5.1%

Shares of NYSE CIA opened at $3.95 on Monday. The company's 50-day moving average price is $5.06 and its 200 day moving average price is $5.23. Citizens has a 52 week low of $3.56 and a 52 week high of $6.54. The stock has a market cap of $221.14 million, a price-to-earnings ratio of 18.81 and a beta of 0.48.

Citizens (NYSE:CIA - Get Free Report) last announced its earnings results on Thursday, August 6th. The insurance provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The business had revenue of $61.90 million for the quarter, compared to analyst estimates of $63.85 million. Citizens had a return on equity of 4.73% and a net margin of 4.55%. As a group, research analysts expect that Citizens will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In other Citizens news, CEO Jon Stenberg purchased 12,000 shares of Citizens stock in a transaction on Tuesday, August 11th. The stock was bought at an average price of $3.65 per share, for a total transaction of $43,800.00. Following the transaction, the chief executive officer owned 389,574 shares of the company's stock, valued at $1,421,945.10. The trade was a 3.18% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.20% of the stock is owned by insiders.

Institutional Trading of Citizens

A number of institutional investors have recently made changes to their positions in the stock. Continental General Insurance Co. lifted its holdings in shares of Citizens by 34.8% in the fourth quarter. Continental General Insurance Co. now owns 2,176,694 shares of the insurance provider's stock valued at $10,513,000 after buying an additional 562,419 shares during the period. Geode Capital Management LLC raised its position in Citizens by 118.0% in the second quarter. Geode Capital Management LLC now owns 1,032,234 shares of the insurance provider's stock worth $3,603,000 after acquiring an additional 558,840 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Citizens by 142.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 199,809 shares of the insurance provider's stock valued at $909,000 after acquiring an additional 117,502 shares during the last quarter. Jane Street Group LLC lifted its holdings in Citizens by 133.6% in the 1st quarter. Jane Street Group LLC now owns 169,308 shares of the insurance provider's stock valued at $770,000 after acquiring an additional 96,836 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Citizens by 38.5% during the 3rd quarter. Barclays PLC now owns 202,219 shares of the insurance provider's stock valued at $1,062,000 after purchasing an additional 56,188 shares in the last quarter. 13.73% of the stock is owned by institutional investors and hedge funds.

About Citizens

Citizens, Inc NYSE: CIA is a bank holding company headquartered in Conway, Arkansas. Through its wholly owned subsidiary, Citizens Bank of Northern Arkansas, the company provides commercial and consumer banking services to individuals, small businesses and corporate clients across Northern and Central Arkansas.

Citizens offers a range of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside lending solutions such as residential mortgages, commercial real estate loans and consumer installment loans.

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