Citizens (NYSE:CIA) Issues Earnings Results

Key Points

• Citizens reported earnings of $0.13 per share for the quarter, exceeding estimates of $0.04, with a net margin of 4.57%.
• The stock rose 6.3% to $4.56 following the earnings announcement, with a market cap of approximately $228.73 million.
• Insider trading saw CEO Jon Stenberg purchase 30,000 shares at $3.69 per share, increasing his total ownership by over 20%.

Citizens (NYSE:CIA - Get Free Report) released its earnings results on Thursday, August 7th. The insurance provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09, Zacks reports. The business had revenue of $62.68 million for the quarter, compared to analyst estimates of $62.78 million. Citizens had a net margin of 4.57% and a return on equity of 6.42%.

Citizens Stock Performance

Shares of NYSE CIA traded down $0.12 during trading on Thursday, hitting $5.03. 27,805 shares of the company traded hands, compared to its average volume of 171,973. The business's fifty day moving average is $3.77 and its 200 day moving average is $4.25. Citizens has a fifty-two week low of $2.71 and a fifty-two week high of $5.95. The firm has a market capitalization of $252.00 million, a price-to-earnings ratio of 22.91 and a beta of 0.39.

Insider Buying and Selling at Citizens

In related news, CEO Jon Stenberg acquired 30,000 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were purchased at an average price of $3.69 per share, for a total transaction of $110,700.00. Following the completion of the acquisition, the chief executive officer owned 179,016 shares of the company's stock, valued at approximately $660,569.04. This trade represents a 20.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought a total of 37,350 shares of company stock worth $138,105 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Citizens

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Citizens by 118.0% in the 2nd 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 during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Citizens by 142.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 199,809 shares of the insurance provider's stock worth $909,000 after acquiring an additional 117,502 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Citizens by 133.6% in the 1st quarter. Jane Street Group LLC now owns 169,308 shares of the insurance provider's stock worth $770,000 after acquiring an additional 96,836 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Citizens by 8.2% in the 1st quarter. Empowered Funds LLC now owns 157,169 shares of the insurance provider's stock worth $715,000 after acquiring an additional 11,853 shares during the last quarter. Finally, WINTON GROUP Ltd raised its holdings in shares of Citizens by 16.8% in the 2nd quarter. WINTON GROUP Ltd now owns 86,711 shares of the insurance provider's stock worth $303,000 after acquiring an additional 12,479 shares during the last quarter. Institutional investors and hedge funds own 13.73% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Citizens from a "sell" rating to a "hold" rating in a report on Saturday, August 9th.

About Citizens

Citizens, Inc provides life insurance products in the United States and internationally. The company operates in two segments, Life Insurance and Home Service Insurance. The Life Insurance segment issues ordinary whole life insurance and endowment policies in the United States dollar-denominated amounts to non-U.S.