Citizens (NYSE:CIA) Stock Price Passes Above 200 Day Moving Average After Earnings Miss
Citizens, Inc. (NYSE:CIA) shares surpassed their 200-day moving average of $4.54, trading at $5.7270 after a disappointing earnings report. The company reported $0.04 earnings per share, missing estimates of $0.06, with revenue of $62.81 million against expectations of $63.46 million. Analysts have mixed ratings, with one Strong Buy and one Hold. Institutional investors have increased their stakes, owning 13.73% of the stock. Despite a current Buy rating, analysts suggest other stocks may be better investments.
Citizens, Inc. (NYSE:CIA - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday following a better than expected earnings announcement. The stock has a two hundred day moving average of $4.54 and traded as high as $6.25. Citizens shares last traded at $5.7270, with a volume of 136,303 shares trading hands.
The insurance provider reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.02). The firm had revenue of $62.81 million for the quarter, compared to analysts' expectations of $63.46 million. Citizens had a net margin of 4.57% and a return on equity of 6.42%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Citizens in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Citizens from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy".
View Our Latest Research Report on CIA
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Citizens during the second quarter valued at about $32,000. Bank of America Corp DE raised its stake in shares of Citizens by 3,686.7% during the 2nd quarter. Bank of America Corp DE now owns 14,541 shares of the insurance provider's stock worth $51,000 after acquiring an additional 14,157 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Citizens during the second quarter valued at approximately $63,000. Intech Investment Management LLC acquired a new stake in Citizens in the second quarter valued at approximately $77,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Citizens in the second quarter worth $86,000. Hedge funds and other institutional investors own 13.73% of the company's stock.
Citizens Stock Down 5.5%
The business has a 50-day moving average price of $5.52 and a 200-day moving average price of $4.54. The firm has a market capitalization of $287.75 million, a price-to-earnings ratio of 26.03 and a beta of 0.41.
About Citizens
(Get Free Report)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.
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