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

Citizens, Inc. (NYSE:CIA) shares crossed below its 50 day moving average during trading on Friday. The stock has a 50 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 trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CIA shares. Citigroup began coverage on Citizens in a research note on Monday, August 24th. They set a “buy” rating for the company. Freedom Broker initiated coverage on Citizens in a research note on Monday, August 24th. They issued a “buy” rating and a $5.50 price target on the stock. Zacks Research raised Citizens from a “strong sell” rating to a “hold” rating in a report on Thursday, November 5th. Weiss Ratings upgraded Citizens from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 16th. Finally, Wall Street Zen downgraded Citizens from a “sell” rating to a “strong sell” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Citizens presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Citizens Price Performance

The stock has a market cap of $165.06 million, a P/E ratio of 20.35 and a beta of 0.46. The business’s fifty day moving average price is $3.65 and its 200 day moving average price is $4.79.

Insider Transactions at Citizens

In related news, Director Michael Philip Harwood acquired 10,000 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average cost of $3.80 per share, for a total transaction of $38,000.00. Following the transaction, the director directly owned 11,096 shares in the company, valued at $42,164.80. This trade represents 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 through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Citizens

A number of hedge funds have recently added to or reduced their stakes in CIA. Bank of America Corp DE lifted its holdings 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 buying an additional 5,746 shares during the period. HighTower Advisors LLC grew 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 during the last quarter. Squarepoint Ops LLC grew its position in shares of Citizens by 25.0% in the 2nd 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 last quarter. Empowered Funds LLC grew its position in shares of Citizens by 8.3% in the 1st quarter. Empowered Funds LLC now owns 238,487 shares of the insurance provider’s stock valued at $1,200,000 after buying an additional 18,244 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in shares of Citizens in the third quarter valued at about $75,000. Institutional investors and hedge funds own 13.73% of the company’s stock.

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.