Truffle Hound Capital LLC Acquires 323,137 Shares of Citizens, Inc. (NYSE:CIA)

Key Points

• Truffle Hound Capital LLC increased its stake in Citizens, Inc. by 85.7%, purchasing 323,137 additional shares to raise its total holdings to 700,000 shares, representing 1.1% of its investment portfolio.
• CEO Jon Stenberg bought 30,000 shares of Citizens' stock for approximately $110,700, increasing his ownership by 20.13%.
• Wall Street analysts have downgraded Citizens from a "hold" rating to a "sell" rating as of May 22nd, indicating a shift in market sentiment towards the company.

Truffle Hound Capital LLC boosted its holdings in Citizens, Inc. (NYSE:CIA - Free Report) by 85.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 700,000 shares of the insurance provider's stock after purchasing an additional 323,137 shares during the period. Citizens makes up 1.1% of Truffle Hound Capital LLC's portfolio, making the stock its 24th largest position. Truffle Hound Capital LLC owned 1.40% of Citizens worth $3,185,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership purchased a new position in shares of Citizens in the fourth quarter valued at about $357,000. Bank of America Corp DE increased its position in shares of Citizens by 7,178.5% in the fourth quarter. Bank of America Corp DE now owns 78,026 shares of the insurance provider's stock valued at $313,000 after acquiring an additional 76,954 shares during the period. 683 Capital Management LLC purchased a new position in shares of Citizens in the fourth quarter valued at about $304,000. Marshall Wace LLP increased its position in shares of Citizens by 350.8% in the fourth quarter. Marshall Wace LLP now owns 95,944 shares of the insurance provider's stock valued at $385,000 after acquiring an additional 74,662 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Citizens in the fourth quarter valued at about $291,000. 13.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Jon Stenberg acquired 30,000 shares of the stock in a transaction on Thursday, May 29th. The stock was acquired at an average price of $3.69 per share, for a total transaction of $110,700.00. Following the completion of the purchase, the chief executive officer owned 179,016 shares of the company's stock, valued at $660,569.04. This represents a 20.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing 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 valued at $138,105 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Citizens Stock Performance

Shares of NYSE CIA traded down $0.07 during midday trading on Tuesday, hitting $4.14. 72,876 shares of the company traded hands, compared to its average volume of 171,487. Citizens, Inc. has a 12-month low of $2.36 and a 12-month high of $5.95. The stock has a 50-day moving average price of $3.64 and a 200 day moving average price of $4.25. The firm has a market cap of $207.37 million, a P/E ratio of 24.26 and a beta of 0.39.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Citizens from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

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.