Traders Buy Large Volume of Put Options on Citizens (NYSE:CIA)

Citizens, Inc. (NYSE:CIA) was the recipient of some unusual options trading on Friday. Traders acquired 3,200 put options on the company. This represents an increase of 50% compared to the average daily volume of 2,127 put options.

Insider Activity at Citizens

In related news, CEO Jon Stenberg acquired 12,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were bought at an average price of $3.65 per share, for a total transaction of $43,800.00. Following the purchase, the chief executive officer directly owned 389,574 shares in the company, valued at approximately $1,421,945.10. This trade represents a 3.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Philip Harwood acquired 10,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was purchased at an average cost of $3.80 per share, with a total value of $38,000.00. Following the transaction, 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 disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 27,376 shares of company stock worth $102,390 in the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Trading of Citizens

Several institutional investors have recently modified their holdings of CIA. Squarepoint Ops LLC lifted its holdings in Citizens by 25.0% in 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 grew its holdings in Citizens by 15.7% in the first quarter. Bank of America Corp DE now owns 42,405 shares of the insurance provider’s stock worth $213,000 after purchasing an additional 5,746 shares during the period. Finally, Empowered Funds LLC increased its stake in 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 in the last quarter. Institutional investors own 13.73% of the company’s stock.

Citizens Stock Down 1.8%

Shares of CIA stock traded down $0.07 on Friday, reaching $3.56. The company had a trading volume of 10,576 shares, compared to its average volume of 114,750. The business’s 50-day moving average is $3.66 and its 200 day moving average is $4.72. Citizens has a one year low of $3.31 and a one year high of $6.54. The stock has a market capitalization of $199.53 million, a PE ratio of 16.98 and a beta of 0.47.

Citizens (NYSE:CIA) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Citizens had a return on equity of 4.73% and a net margin of 4.55%. The company had revenue of $61.90 million for the quarter, compared to analyst estimates of $63.85 million. On average, sell-side analysts forecast that Citizens will post 0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CIA shares. Freedom Broker started coverage on Citizens in a report on Monday, August 24th. They set a “buy” rating and a $5.50 target price for the company. Weiss Ratings upgraded Citizens from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 16th. Citigroup started coverage on Citizens in a research note on Monday, August 24th. They issued a “buy” rating for the company. Wall Street Zen upgraded shares of Citizens from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 11th. Finally, Zacks Research lowered shares of Citizens from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 7th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.50.

Citizens Company Profile

Citizens, Inc (NYSE:CIA) is an insurance holding company headquartered in Austin, Texas. Through its subsidiaries, the company primarily provides life insurance and related products to individuals and families in the United States and selected international markets.

Its product offerings include final-expense and burial insurance, ordinary whole-life and term-life policies, endowment products, and certain accident and health insurance coverage. These products are designed to provide financial protection, death benefits, and other forms of insurance support for policyholders and their beneficiaries.

Citizens has historically served customers in the United States as well as markets in Latin America and Asia.