Citizens (NYSE:CIA) Shares Break Above 50 Day Moving Average - Here's What Happened

Key Points

• Citizens shares rose above their 50-day moving average, reaching $3.80 before trading at $3.714, up 2.6%. The stock’s 50-day average is $3.64, while its 200-day average is $4.85.
• Analyst sentiment is mixed: Citizens has an average rating of “Hold” and a consensus price target of $5.50, with ratings ranging from “Buy” to “Strong Sell.”
• The company recently missed quarterly expectations, reporting $0.01 in earnings per share versus a $0.07 estimate and revenue of $61.9 million versus $63.85 million expected. Insiders bought 27,376 shares worth approximately $102,390 during the last quarter.

Citizens, Inc. (NYSE:CIA - Get Free Report)'s share price passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $3.64 and traded as high as $3.80. Citizens shares last traded at $3.7140, with a volume of 132,550 shares trading hands.

Wall Street Analysts Forecast Growth

CIA has been the topic of several research reports. Citigroup assumed coverage on shares of Citizens in a research report on Monday, August 24th. They issued a "buy" rating on the stock. Wall Street Zen upgraded shares of Citizens from a "strong sell" rating to a "sell" rating in a research report on Sunday, October 11th. Weiss Ratings raised shares of Citizens from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, October 16th. Zacks Research cut shares of Citizens from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 7th. Finally, Freedom Broker started coverage on shares of Citizens in a report on Monday, August 24th. They issued a "buy" rating and a $5.50 target price on the stock. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Citizens presently has an average rating of "Hold" and an average target price of $5.50.

Citizens Stock Up 2.6%

The company has a market capitalization of $207.87 million, a price-to-earnings ratio of 17.69 and a beta of 0.47. The business has a 50-day moving average price of $3.64 and a 200-day moving average price of $4.85.

Citizens (NYSE:CIA - Get Free Report) last released 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). The company had revenue of $61.90 million during the quarter, compared to analyst estimates of $63.85 million. Citizens had a net margin of 4.55% and a return on equity of 4.73%. As a group, sell-side analysts predict that Citizens, Inc. will post 0.12 EPS for the current year.

Insider Activity

In other news, Director Michael Philip Harwood purchased 10,000 shares of the business's stock in a transaction dated Monday, August 31st. The shares were acquired at an average price of $3.80 per share, for a total transaction of $38,000.00. Following the completion of the acquisition, the director directly owned 11,096 shares of the company's stock, valued at $42,164.80. The trade was a 912.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jon Stenberg purchased 12,000 shares of Citizens stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average price of $3.65 per share, with a total value of $43,800.00. Following the transaction, the chief executive officer owned 389,574 shares in the company, valued at $1,421,945.10. This represents a 3.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 27,376 shares of company stock valued at $102,390. Corporate insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Citizens

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC raised its position in Citizens by 25.0% during 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. Bank of America Corp DE boosted 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 worth $213,000 after acquiring an additional 5,746 shares during the period. Finally, Empowered Funds LLC grew its stake in Citizens by 8.3% during the 1st quarter. Empowered Funds LLC now owns 238,487 shares of the insurance provider's stock valued at $1,200,000 after acquiring an additional 18,244 shares in 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 focused primarily on life insurance products. Through its operating subsidiaries, the company provides coverage designed to address final expenses, mortgage protection, income replacement and other long-term financial needs.

Its product offerings have included whole life, term life, universal life and other life insurance policies, as well as related insurance solutions. Citizens serves policyholders in the United States and selected international markets, including countries and territories in Latin America and the Caribbean.

The company is based in Austin, Texas, and has historically operated through insurance subsidiaries serving domestic and international customers.

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