Citizens (NYSE:CIA) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Citizens, Inc. (NYSE:CIA) has seen its share price rise above the 200-day moving average, trading at $5.37 after reaching a high of $5.37 on Tuesday.
• Wall Street analysts have upgraded the stock from a "sell" rating to a "hold" rating, with an average rating of "Strong Buy" based on recent research.
• CEO Jon Stenberg has increased his ownership by purchasing 30,000 shares at an average cost of $3.69, indicating confidence in the company's future performance.

Citizens, Inc. (NYSE:CIA - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.25 and traded as high as $5.37. Citizens shares last traded at $5.37, with a volume of 51,005 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Citizens from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Strong Buy".

Citizens Trading Down 2.1%

The firm has a market capitalization of $265.02 million, a PE ratio of 23.98 and a beta of 0.39. The company has a fifty day moving average price of $4.17 and a two-hundred day moving average price of $4.25.

Citizens (NYSE:CIA - Get Free Report) last posted its earnings results on Thursday, August 7th. The insurance provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. Citizens had a return on equity of 6.42% and a net margin of 4.57%.The business had revenue of $62.68 million during the quarter, compared to the consensus estimate of $62.78 million. As a group, equities research analysts predict that Citizens, Inc. will post 0.32 earnings per share for the current year.

Institutional Trading of Citizens

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC raised its stake in Citizens by 3.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 428,533 shares of the insurance provider's stock valued at $1,496,000 after acquiring an additional 15,433 shares during the last quarter. Bank of America Corp DE raised its stake in Citizens by 3,686.7% during the 2nd quarter. Bank of America Corp DE now owns 14,541 shares of the insurance provider's stock valued at $51,000 after acquiring an additional 14,157 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Citizens during the 2nd quarter valued at approximately $86,000. The Manufacturers Life Insurance Company purchased a new stake in Citizens during the 2nd quarter valued at approximately $63,000. Finally, WINTON GROUP Ltd raised its stake in Citizens by 16.8% during the 2nd quarter. WINTON GROUP Ltd now owns 86,711 shares of the insurance provider's stock valued at $303,000 after acquiring an additional 12,479 shares during the last quarter. 13.73% of the stock is owned by hedge funds and other institutional investors.

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.