Citizens (NYSE:CIA) Stock Crosses Below Fifty Day Moving Average - Here's Why

Key Points

• Citizens shares fell below their 50-day moving average of $3.65, reaching $3.22 before last trading at $3.255, well below the 200-day average of $4.79.
• Analyst views were mixed: ratings ranged from “strong sell” to “buy,” while MarketBeat reported an overall “Moderate Buy” consensus and a $5.50 price target.
• Director Michael Philip Harwood bought 10,000 shares at an average price of $3.80, increasing his ownership by more than ninefold.

Citizens, Inc. (NYSE:CIA - Get Free Report)'s stock price passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $3.65 and traded as low as $3.22. Citizens shares last traded at $3.2550, with a volume of 246,376 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wall Street Zen lowered shares of Citizens from a "sell" rating to a "strong sell" rating in a research report on Saturday. Zacks Research raised shares of Citizens from a "strong sell" rating to a "hold" rating in a report on Thursday, November 5th. Weiss Ratings raised shares of Citizens from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, October 16th. Freedom Broker assumed coverage on shares of Citizens in a research report on Monday, August 24th. They set a "buy" rating and a $5.50 target price on the stock. Finally, Citigroup started coverage on shares of Citizens in a report on Monday, August 24th. They set a "buy" rating on the stock. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Citizens currently has an average rating of "Moderate Buy" and a consensus price target of $5.50.

Citizens Stock Performance

The stock has a market capitalization of $165.06 million, a price-to-earnings ratio of 20.35 and a beta of 0.46. The company has a fifty day simple moving average of $3.65 and a two-hundred day simple moving average of $4.79.

Insider Activity at Citizens

In related news, Director Michael Philip Harwood purchased 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 31st. The shares were bought at an average price of $3.80 per share, for a total transaction of $38,000.00. Following the completion of the transaction, the director owned 11,096 shares of the company's stock, valued at approximately $42,164.80. This trade represents a 912.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Citizens

A number of large investors have recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in Citizens by 37.1% in the 3rd quarter. Empowered Funds LLC now owns 352,103 shares of the insurance provider's stock valued at $1,215,000 after buying an additional 95,326 shares during the period. HighTower Advisors LLC raised its position in shares of Citizens by 19.4% in the 3rd quarter. HighTower Advisors LLC now owns 74,612 shares of the insurance provider's stock valued at $257,000 after buying an additional 12,112 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Citizens during the 3rd quarter worth approximately $75,000. Squarepoint Ops LLC lifted its holdings in shares of Citizens by 25.0% during the 2nd quarter. Squarepoint Ops LLC now owns 66,456 shares of the insurance provider's stock worth $381,000 after acquiring an additional 13,300 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of 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. 13.73% of the stock is currently owned by institutional investors and hedge funds.

Citizens Company Profile

Citizens, Inc. is an insurance holding company headquartered in Austin, Texas. Founded in 1969, it focuses primarily on life insurance and serves customers in the United States and international markets. In the United States, the company offers life insurance products that include coverage for final expenses and other individual needs. Internationally, it provides U.S.-dollar-denominated life insurance to policyholders living outside the country, with a presence in markets including Latin America and the Pacific Rim.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.