Citizens (NYSE:CIA) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen lowered shares of Citizens (NYSE:CIA) from a sell rating to a strong sell rating in a report released on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also weighed in on the stock. Weiss Ratings lowered shares of Citizens from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 31st. Citigroup started coverage on shares of Citizens in a report on Monday, August 24th. They set a “buy” rating on the stock. Finally, Freedom Broker initiated coverage on shares of Citizens in a research report on Monday, August 24th. They set a “buy” rating and a $5.50 price target on the stock. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.50.

Citizens Stock Up 1.9%

Citizens stock opened at $3.54 on Friday. The firm has a market cap of $197.85 million, a price-to-earnings ratio of 16.83 and a beta of 0.47. Citizens has a 52 week low of $3.38 and a 52 week high of $6.54. The business’s 50-day moving average price is $3.93 and its 200 day moving average price is $4.85.

Citizens (NYSE:CIA) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). Citizens had a net margin of 4.55% and a return on equity of 4.73%. The company had revenue of $61.90 million for the quarter, compared to analysts’ expectations of $63.85 million. Equities analysts expect that Citizens will post 0.12 EPS for the current year.

Insider Buying and Selling

In other Citizens news, CEO Jon Stenberg acquired 12,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $3.65 per share, for a total transaction of $43,800.00. Following the completion of the transaction, the chief executive officer directly owned 389,574 shares of the company’s stock, valued at $1,421,945.10. This represents a 3.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Philip Harwood bought 10,000 shares of Citizens stock in a transaction dated Monday, August 31st. The shares were acquired at an average cost of $3.80 per share, with a total value of $38,000.00. Following the completion of the purchase, the director owned 11,096 shares in the company, valued at approximately $42,164.80. This trade represents a 912.41% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 27,376 shares of company stock worth $102,390 in the last quarter. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Citizens

A number of institutional investors have recently added to or reduced their stakes in CIA. 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 worth $381,000 after acquiring an additional 13,300 shares during the period. Bank of America Corp DE lifted its holdings in Citizens by 15.7% during the first quarter. Bank of America Corp DE now owns 42,405 shares of the insurance provider’s stock valued at $213,000 after purchasing an additional 5,746 shares in the last quarter. Finally, Empowered Funds LLC grew its position in shares of Citizens by 8.3% in the first quarter. Empowered Funds LLC now owns 238,487 shares of the insurance provider’s stock valued at $1,200,000 after purchasing an additional 18,244 shares during the period. Institutional investors and hedge funds own 13.73% of the company’s stock.

About Citizens

Citizens, Inc (NYSE: CIA) is an insurance holding company headquartered in Austin, Texas. Through its insurance subsidiaries, the company provides life insurance products designed to help individuals and families address final expenses, income protection and other financial needs.

Its product offerings include final expense insurance, ordinary life insurance and other forms of life coverage. Citizens distributes its policies through independent agents and other insurance representatives, serving customers in the United States and selected international markets.

The company traces its history to 1969 and has developed operations in parts of Latin America and the Caribbean in addition to its U.S.