Citizens (NYSE:CIA) Downgraded by Wall Street Zen to Strong Sell

Key Points

• Wall Street Zen downgraded Citizens from “Sell” to “Strong Sell,” though other analyst ratings leave the consensus at “Moderate Buy” with a $5.50 target price.
• Citizens shares were reported down 11.3% and opened at $3.25, close to their 12-month low of $3.22.
• Director Michael Philip Harwood bought 10,000 shares at an average of $3.80; insiders own 2.20% of the stock.

Citizens (NYSE:CIA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued reports about the company. Weiss Ratings raised Citizens from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, October 16th. Freedom Broker assumed coverage on Citizens in a research report on Monday, August 24th. They issued a "buy" rating and a $5.50 target price for the company. Zacks Research raised Citizens from a "strong sell" rating to a "hold" rating in a research note on Thursday, November 5th. Finally, Citigroup initiated coverage on shares of Citizens in a research report on Monday, August 24th. They set a "buy" rating on the stock. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.50.

Citizens Stock Down 11.3%

Shares of CIA stock opened at $3.25 on Friday. The business has a 50-day moving average price of $3.65 and a two-hundred day moving average price of $4.79. Citizens has a 12-month low of $3.22 and a 12-month high of $6.54. The firm has a market cap of $165.06 million, a P/E ratio of 20.35 and a beta of 0.46.

Insider Buying and Selling

In other Citizens news, Director Michael Philip Harwood purchased 10,000 shares of the stock in a transaction on Monday, August 31st. The stock was acquired at an average cost of $3.80 per share, with a total value of $38,000.00. Following the completion of the purchase, the director directly owned 11,096 shares of the company's stock, valued at approximately $42,164.80. This trade represents a 912.41% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC grew its stake in shares of Citizens by 37.1% in the third quarter. Empowered Funds LLC now owns 352,103 shares of the insurance provider's stock worth $1,215,000 after purchasing an additional 95,326 shares during the last quarter. HighTower Advisors LLC increased its holdings in Citizens by 19.4% during the 3rd quarter. HighTower Advisors LLC now owns 74,612 shares of the insurance provider's stock valued at $257,000 after purchasing an additional 12,112 shares during the period. Ritholtz Wealth Management bought a new position in Citizens during the 3rd quarter valued at approximately $75,000. Squarepoint Ops LLC raised its position in Citizens by 25.0% during the 2nd quarter. Squarepoint Ops LLC now owns 66,456 shares of the insurance provider's stock valued at $381,000 after purchasing an additional 13,300 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Citizens by 15.7% during 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 during the last quarter. 13.73% of the stock is owned by institutional investors.

About Citizens

Citizens, Inc. is an insurance holding company headquartered in Austin, Texas. Founded in 1969, it focuses primarily on life insurance and serves customers in the United States and international markets. In the United States, the company offers life insurance products that include coverage for final expenses and other individual needs. Internationally, it provides U.S.-dollar-denominated life insurance to policyholders living outside the country, with a presence in markets including Latin America and the Pacific Rim.

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