Citizens (NYSE:CIA) Stock Dropped to "Strong Sell" by Wall Street Zen

Key Points

• Wall Street Zen downgraded Citizens (NYSE: CIA) from “sell” to “strong sell,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $5.50.
• Citizens reported quarterly EPS of $0.01, missing the $0.07 consensus estimate, while revenue of $61.9 million also fell short of expectations. Shares opened at $3.54, near their 52-week low of $3.38.
• Company insiders purchased 27,376 shares worth approximately $102,390 over the past three months, and several institutional investors recently increased their holdings.

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

A number of other brokerages have also commented on CIA. Citigroup started coverage on Citizens in a research report on Monday, August 24th. They issued a "buy" rating on the stock. Weiss Ratings downgraded Citizens from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, August 31st. Finally, Freedom Broker assumed coverage on Citizens in a research note on Monday, August 24th. They set a "buy" rating and a $5.50 price target on the stock. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $5.50.

Citizens Trading Up 1.9%

Shares of CIA stock opened at $3.54 on Friday. Citizens has a 1 year low of $3.38 and a 1 year high of $6.54. The firm's 50 day moving average is $3.93 and its 200-day moving average is $4.85. The firm has a market capitalization of $197.85 million, a price-to-earnings ratio of 16.83 and a beta of 0.47.

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

Insider Buying and Selling

In other Citizens news, CEO Jon Stenberg acquired 12,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average cost of $3.65 per share, for a total transaction of $43,800.00. Following the completion of the acquisition, the chief executive officer directly owned 389,574 shares of the company's stock, valued at approximately $1,421,945.10. This represents a 3.18% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Philip Harwood acquired 10,000 shares of Citizens stock in a transaction on Monday, August 31st. The stock was acquired 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 owned 11,096 shares of the company's stock, valued at approximately $42,164.80. The trade was a 912.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 27,376 shares of company stock valued at $102,390. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CIA. Bank of America Corp DE grew its stake in shares of 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 purchasing an additional 5,746 shares during the period. Squarepoint Ops LLC lifted its stake in Citizens by 25.0% in the second quarter. Squarepoint Ops LLC now owns 66,456 shares of the insurance provider's stock valued at $381,000 after buying an additional 13,300 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Citizens by 8.3% during 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. Institutional investors and hedge funds own 13.73% of the company's stock.

Citizens Company Profile

Citizens, Inc NYSE: CIA is an insurance holding company headquartered in Austin, Texas. Through its insurance subsidiaries, the company provides life insurance products designed to help individuals and families address final expenses, income protection and other financial needs.

Its product offerings include final expense insurance, ordinary life insurance and other forms of life coverage. Citizens distributes its policies through independent agents and other insurance representatives, serving customers in the United States and selected international markets.

The company traces its history to 1969 and has developed operations in parts of Latin America and the Caribbean in addition to its U.S.

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